Week in Business: Non-dom tax U-turn makes sense but what about the rest of us? June 19, 2025 The Chancellor is scrambling to hang on a few non-doms, but what about the tax bomb dropped on the rest of the country?
Bank of England holds interest rates at 4.25 per cent June 19, 2025 The Bank of England has held interest rates to “squeeze out persistent inflationary pressures” amid tensions between Israel and Iran risking an alarming uptick in energy prices later this year. Officials said high inflation predictions and sticky wage growth figures had led them to opt for interest rates to be kept at 4.25 per cent [...]
Exclusive: Government admits fossil fuels use is cheaper than net zero technology June 19, 2025 The UK government has quietly admitted that using low-carbon technologies essential to the rapid drive to net zero are more expensive than when fossil fuels are used an energy source, City AM can reveal. Labour ministers are expected to double down on expanding the use of green technologies to lower costs as the Treasury and [...]
Reform UK: Treasury should intervene on Bank interest rates decisions June 18, 2025 Reform UK has suggested the Treasury should be allowed to contribute to the Bank of England’s interest rates decision in what would represent an intervention on its independence for the first time in nearly 30 years. Deputy leader Richard Tice told The Times ministers should have greater power over the Bank’s key decisions while it [...]
Shell and BP: FTSE 100 giants get analyst backing after oil surge June 18, 2025 FTSE 100 oil heavyweights are back in analysts favour after oil prices surged from the intensifying Middle Eastern conflict. BP and Shell shares have jumped around three per cent in the last week and climbed further as President Donald Trump weighed in on the attacks in Israel and Iran. Russ Mould, investment director at AJ [...]
Inflation overshoots expectations ahead of Bank of England meeting June 18, 2025 Inflation hit 3.4 per cent in the year to May, official data has revealed, which is set to be the final set of data Bank of England officials receive before coming to an interest rates decision on Thursday. Data published by the Office for National Statistics showed services price growth, which is closely monitored by [...]
Tax hikes dragging investment to worst level since pandemic, CBI says June 18, 2025 Chancellor Rachel Reeves’ dramatic tax hike on employment has helped push firms’ investment plans down to the worst level in five years, contributing to a downgrade in the Confederation of British Industry (CBI)’s latest economic outlook. The CBI now believe that the UK economy will only grow 1.2 per cent this year and slow down [...]
Why the Bank of England will hold interest rates June 17, 2025 At every other meeting, the Bank of England publishes its monetary policy report alongside its interest rate decision. Each lengthy report includes fresh details on revisions to central forecasts, which are poured over with glee by economists and investors.. But this Thursday’s Monetary Policy Committee (MPC) meeting will offer few statistical goodies. Officials will meet [...]
Dollar weakens as ‘confidence in US assets continues to erode’ June 17, 2025 The US dollar’s traditional safe-haven status has continued to take a bruising, as investors shun the currency amid rising global tensions. The dollar index (DXY) – which tracks the dollar’s value against a basket of currencies – has tumbled to around 98, compared to nearly 110 at the beginning of the year, as the currency [...]
Further job cuts needed to cope with tax raid, businesses warn June 17, 2025 Businesses across Britain are planning another round of job cuts to deal with the pain of Rachel Reeves’ national insurance raid, laying bare the scale of the financial pressure wrought by the government’s £20bn tax hike after it came into effect in April. As many as one in three businesses said they were planning to [...]