This week’s rate rise: Brits face immediate jump in interest payments of £1.67bn August 6, 2022 With the Bank of England Monetary Policy Committee confirming its base rate will rise by 0.5 per cent to 1.75 per cent, UK households face an immediate increase in interest payments of £1.67bn. UK households are currently paying £24.1 billion annually in interest payments on floating rate debt that are likely to be immediately impacted by [...]
Exclusive: A third of all small businesses in Britain set to fold unless they get access to fresh funding August 6, 2022 One in three UK small and medium enterprises (SMEs) say their survival is dependent on accessing finance by the end of the year, according to new research shared exclusively with City A.M. this weekend. A third of all SMEs in Britain fear their business will collapse if they are unable to access finance, such as [...]
More businesses to go bust after today’s rate rise as £2bn is added to borrowing costs overnight August 4, 2022 With the Bank of England Monetary Policy Committee increasing its base rate by another 0.5 per cent to 1.75 per cent, UK businesses face an immediate increase in interest payments of more than £2bn. Analysis of Bank of England data shows UK businesses are currently paying £14bn annually in interest payments on their £409bn in floating rate [...]
Fraud on the rise as cost of living soars, FCA warns August 4, 2022 The UK’s top financial watchdog sounded the alarm over rising fraud rates today as scammers look to swoop on vulnerable consumers amidst a cost of living crunch.
D-Day in the City: Bank of England set to make history today by raising interest rates by record 50bps August 4, 2022 Today the Bank of England could make history by raising interest rates by 50bps for the first time since the Monetary Policy Committee was set up back in 1997. In June, the vote was a split decision, and it is quite likely that this one could be too. Then, three members of the MPC voted [...]
Vast majority of UK businesses struggle to get staff back into the office as workers demand flexibility August 4, 2022 Three in five UK business leaders are struggling to get employees back in the office, with younger workers in particular seeking flexibility and better workspaces. In fact, two-fifths seeking a new workspace to reflect their changing office needs, according to new research shared exclusively with City A.M. this morning. infinitSpace found that more than a third of [...]
Battle for Number 10: From tax to NHS, here are all the promises Liz Truss and Rishi Sunak have made so far August 3, 2022 Yesterday, Liz Truss has this morning performed a screeching U-turn on a policy to pay regional public sector workers less than their London counterparts. it came after a severe backlash from Tory MPs and Tees Valley mayor Ben Houchen. The embarrassing move comes as Truss and her rival Rishi Sunak continue to flesh out their [...]
UK is ‘card fraud capital of Europe’, warns top think tank August 3, 2022 The UK is the 'card fraud capital of Europe' with Brits falling foul of scammers at a higher rate and bigger cost than any other country, a top think tank warned today.
This Is The Best Day To Be In The Office August 1, 2022 We never thought we’d get there in the middle of the WFH-depths of the pandemic, but here we are: many of us are now back in the office a couple of days a week. It’s an opportunity to connect with colleagues, spend exorbitant amounts of money on overpriced oat milk lattes from the hipster cafe [...]
Searches for overseas jobs by Brits surge with Dubai most popular destination August 1, 2022 Searches for work abroad have surged among UK workers with Dubai the most sought-after destination. Over the last 12 months, searches for overseas work by British workers soared by 56 per cent, according to data by overseas job website Anywork Anywhere, which analysed Google search data over the past year. Dubai was the most popular [...]
