Vehicles are the UK’s most valuable export as revenues reach £27bn October 12, 2021 UK export revenues for vehicles have reached £27bn in 2020, making vehicles Britain’s most valuable trade good. In a report published today, the Society of Motor Manufacturers and Traders (SMMT) highlighted how the British automotive sector kept on generating revenue even during the Covid-19 pandemic. As a whole, the country’s industry produced a £74bn total [...]
FTSE 100 dips despite jobs market recovery October 12, 2021 A resurgence in the UK jobs market back to pre-pandemic strength was not enough to lift London markets into positive territory this morning. The capital’s premier FTSE 100 index dipped 0.71 per cent to 7,096.23 points during the opening session. More to follow.
OnTheMarket lifts profit expectations on the back of strong interim results October 12, 2021 The company behind property search website OnTheMarket.com saw profits soar in the first half of FY21 amid strong interest. The company saw revenues climb to £14.9m in the first half of the year, an increase of 46 per cent compared to the same period in 2020, while adjusted operating profit soared by 163 per cent [...]
Wednesday’s GDP figures will remind Brits of sunnier economic times October 12, 2021 The economic mood at the moment is not upbeat. Households are facing an acute cost of living crisis, businesses are warning of shortages at Christmas, inflation is likely to run hotter and for longer than the Bank of England initially expected. Doom and gloom. However, on Wednesday, positivity will be partly revived as the Office [...]
Markets brace for Christmas BoE rate hike October 12, 2021 THE UK could be stung by an earlier than expected rate hike as the Bank of England moves to hose down runaway inflation. Investors kicked off the week yesterday by repositioning their bets toward a first rate increase since the onset of the Covid-19 crisis at the Bank’s last rate setting meeting of the year [...]
Looming cost of living crisis pinches Brits’ confidence in finances October 12, 2021 The spectre of inflation is acutely impacing Brits’ confidence in the health of their finances. Nine in 10 households are worried about their finances, found research by Barclaycard. Brits across the country are facing a severe cost of living crisis caused by soaring energy prices, wider inflation and looming tax hikes, which is weighing down [...]
Trevelyan hits out at ‘unfair trading practices’ in swipe at China October 11, 2021 The UK’s new international trade secretary will tomorrow hit out at countries engaging in “unfair trading practices” in an apparent attack on China. Anne-Marie Trevelyan will use her first G20 trade meeting in Sorrento, Italy to say “we will not allow British businesses who play by the rules to be damaged and undercut by market-distorting [...]
German investors plug £847m into City property October 11, 2021 German investors have injected £847m into property in the Square Mile so far this year. This is the second-highest level invested into properties in the City of London since 2013, the Telegraph newspaper reported. One in five property transactions in the City were carried out by German investors in the year to mid September, according [...]
Brits can expect more and cheaper fish from £21bn post-Brexit trade deal with Norway and Iceland October 11, 2021 The recently signed free trade agreement between the UK and Norway, Iceland and Liechtenstein is likely to reduce fish processing costs which may lead to more and cheaper fish for British consumers. A report by the House of Lords European Affairs Committee said today the deal, which was signed in July, will mean cheaper fish [...]
Jenny Watson: New chair of UK accounting regulatory board wants to be a driver of change October 11, 2021 Jenny Watson CBE, newly appointed as the chair to the regulatory board of the UK body of chartered accountants, the Institute of Chartered Accountants in England and Wales (ICAEW), is a woman on a mission: the former chair of the Electoral Commission wants to be a driver of change. “We already know that there is much [...]