London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Businesses warn of £400m in extra costs after Reeves’s Budget tax raid November 8, 2024 Businesses across the UK are sounding the alarm over rising costs after Rachel Reeves raised taxes by some £40bn at the Budget last week. The Chancellor announced that employer’s national insurance contributions (NIC) will increase by 1.2 per cent to 15 per cent, and the threshold at which businesses start paying the levy will be [...]
Fed cuts rates by 25 basis points just days after Donald Trump’s victory November 7, 2024 The decision, the second in the cutting cycle, was widely anticipated by markets and means the federal funds rate stands in a range of 4.50-4.75 per cent.
Prospect of fewer rate cuts buoys sterling and UK-focused stocks November 7, 2024 The pound and UK-focused stocks rose this afternoon after the Bank of England indicated it would take a more “gradual” approach to cutting rates in the year ahead. The Bank’s Monetary Policy Committee (MPC) voted to lower the base rate to 4.75 per cent in a widely anticipated move that follows a sharp fall in [...]
US election: ‘You can’t love your country only when you win,’ Biden says November 7, 2024 The US electoral system “can be trusted, win or lose”, President Joe Biden said today following Donald Trump’s election win.
The Bank of England has a lot to be cautious about November 7, 2024 The Bank of England's latest interest rate decision could hardly have come at a busier time.
Bentley pushes back full all-electric switch to 2035 November 7, 2024 Bentley Motors has pushed back its switch to only making electric cars to 2035, it has been confirmed. The Crewe-headquartered luxury car maker, which is owned by Volkswagen, had originally announced in November 2020 that it intended to go all-electric by 2030. The aim was again reiterated in January 2022 when Bentley revealed plans to launch [...]
Tata Steel: Plans submitted for new electric arc furnace in Port Talbot November 7, 2024 Tata Steel has submitted a planning application for a new electric arc furnace at its Port Talbot plant. The Indian steel manufacturer wants to build the new state of the art furnace after it closed its blast furnaces in September, cutting 2,000 jobs. Tata says the move would be a “significant step in the company’s [...]
Price rises loom as Budget hits Sainsbury’s with £140m costs November 7, 2024 Sainsbury’s chief executive Simon Roberts has cautioned that new government measures will hit shoppers with higher prices by adding £140m to the supermarket’s costs. These include a National Insurance hike, and a rise in the UK minimum wage. The increased National Insurance contributions, as announced by Chancellor Rachel Reeves in her Autumn Budget, will surge [...]
House prices hike push owners to renovate, not relocate November 7, 2024 As house prices surge at their fastest annual rate in two years, many UK homeowners are opting to renovate rather than relocate due to high property costs and the highest tax rates in four decades. House prices have hit a record high, as analysts suggest higher demand has come up against a continued shortage in [...]
Wood Group shares slump as it launches write-offs review November 7, 2024 Wood Group shares nosedived 55 per cent today after the engineering firm unveiled a Deloitte-led review of its operations, sparking investor concern. The review, launched in response to recent large-scale project write-offs, will assess the firm’s contract accounting and governance. It may also potentially lead to financial restatements. The review was announced alongside a trading [...]