Recession, what recession? Firms shrug off UK economy fears to focus on growth May 2, 2023 Britain’s small businesses are turning their attention away from worrying about whether the country will slip into a recession to focus on growth, a new survey out today shows. Confidence among the country’s small firms – which drive output – climbed sharply from its depths at the end of last year, according to the Federation [...]
London rents surge to record high of more than £2,500 as experts warn of no let up in sight April 28, 2023 London rents have surged to their highest level on record and experts have warned there is little sign of the capital’s housing market improving any time soon, fresh figures out today reveal. The cost per month of renting a property in London climbed 14 per cent over the last year to £2,501, according to search [...]
UK to avoid recession but inflation won’t return to Bank of England target until end of next year April 28, 2023 Britain is poised to dodge a recession this year, but inflation will not return to the Bank of England’s two per cent target until the end of next year, new forecasts out last night revealed. The fresh projections from consultancy PwC add to the growing body of organisations who have canned their prediction that the [...]
FTSE 100 close: Barclays surge fails to prevent losses on London index April 27, 2023 London’s FTSE 100 slipped today, pushed lower by investors wobbling over concerns about the health of the global economy amid banking and interest rate fears. The capital’s premier index dropped 0.27 per cent to 7,831.59 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed [...]
FTSE 100 close: Persimmon and Standard Chartered peg losses on London index April 26, 2023 London’s FTSE 100 skidded lower today despite a decent batch of results pumping up banks and house builders. The capital’s premier index lost 0.49 per cent to close at 7,852.63 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged 0.04 per cent lower to [...]
Sick days in UK reach record high of 185m as Covid-19 hangs over economy April 26, 2023 Working days lost in the UK due to people being sick have climbed to a record high of just over 185m, official figures out today reveal. The new figures released by the Office for National Statistics (ONS) indicate that Covid-19 is still having a nagging impact on the UK economy and the health of the [...]
UK workers clocked zero productivity growth in last year continuing long trend of sluggishness April 26, 2023 British workers clocked no improvement in the amount of goods and services they can produce per hour over the last year, official statistics released today show. According to the Office for National Statistics (ONS), output per hour worked in the three months to December last year was no different compared to the same period in [...]
Bank of England interest rate hikes would squeeze Jeremy Hunt’s room for tax cuts by £8bn, City economist claims April 26, 2023 The Bank of England could squeeze Chancellor Jeremy Hunt’s room to cut taxes in the run up to the next general election if it keeps hiking interest rates to tame inflation, a City economist has calculated. Officials at Threadneedle Street would swell Britain’s debt interest bill by around £8bn if they send borrowing costs to [...]
Credit Suisse and Silicon Valley Bank collapses flood City with idled talent April 25, 2023 Credit Suisse and Silicon Valley Bank’s failures have flooded the City with idled bankers looking for new work, a new report out today reveals. Over 4,000 more workers in the UK’s financial services sector were looking for a new gig in the first three months of this year, according to recruiter Morgan McKinley. Available financial [...]
FTSE 100 close: London ends down ahead of Google and Microsoft results as Primark owner slumps April 25, 2023 London’s FTSE 100 was dragged lower today as investors fretted over the state of a batch of big tech results on Wall Street rolling in over the coming days. The capital’s premier index shed 0.27 per cent to drop to 7,891.13 points, while the domestically-focus mid-cap FTSE 250 index, which is more aligned with the [...]