Bank of England hikes interest rates by 50 points to five per cent after inflation shock June 22, 2023 The Bank of England today reverted to steeper interest rate rises in a sign that embattled Governor Andrew Bailey and co have been spooked by much tougher than feared inflation. Bailey and the rest of the monetary policy committee (MPC) – the nine-strong group who set official interest rates in Britain – backed a 50 [...]
Housing market reeling after BoE hike interest rates in fresh blow for mortgage holders June 22, 2023 Prospective buyers and homeowners looking to reinstate fixed rate or tracker deals on their homes were met with a fresh blow this afternoon following the central bank’s decision to hike interest rates for the 13th time in a row in efforts to cool soaring inflation. It is expected that the decision will lead high street [...]
Price of Bitcoin holds steady above $30k as crypto markets enjoy upside momentum June 22, 2023 Bitcoin and the rest of crypto continue to push upwards as news of institutional interest continues doing the rounds.
‘Totally without merit’: Judge rejects environmental challenge against Sizewell C nuclear plant June 22, 2023 The government's decision to grant development consent for the Sizewell C nuclear plant was lawful, a high court judge has ruled.
Credit fears send bank shares lower after Bank of England lifts rates by 50bps June 22, 2023 Shares in the UK’s biggest banks today fell after the Bank of England raised interest rates by 50 basis points, heaping more pain onto borrowers. The Bank’s Monetary Policy Committee reverted to a larger rate hike after inflation remained stuck at 8.7 per cent last month. It was the 13th rate hike in a row [...]
Uber to slash 200 jobs in layoff resurgence June 22, 2023 Uber is preparing to cut 200 employees from its recruiting team in its ongoing drive to improve efficiency. The ride-sharing app is slashing over a third of its recruitment division, less than one per cent of its total global workforce, according to sources cited by the Wall Street Journal. It comes as Uber is trying [...]
Government ‘penalising’ investors with ‘baffling’ stamp duty on shares, says Interactive Investor June 22, 2023 Ministers are “penalising” the UK’s investors by levying “baffling” taxes on holding British stocks, one of the UK’s top investment platforms said today.
Ocado share price soars over 40 per cent following Amazon takeover rumours June 22, 2023 Shares in Ocado soared over 40 per cent this morning following speculation that Amazon is eyeing a takeover of its grocery technology business. The tech giant is reportedly mulling an £8-a-share move, The Times has reported, with Goldman Sachs and JP Morgan said to be acting for the potential bidders. “Bid chatter helped lift web-based [...]
Sadiq Khan says Shaun Bailey should lose peerage over ‘Jingle & Mingle’ video June 22, 2023 Sadiq Khan has said his former mayoral rival Shaun Bailey should not receive his peerage after a video of staff dancing and drinking at a Christmas party during Covid-19 emerged. The mayor of London described the footage of staff, who joked about bending the rules in the video filmed at CCHQ on 14 December 2020 [...]
UK banks to ramp up data sharing in dirty money crackdown June 22, 2023 British banks are gearing up to share more data with their peers on suspected serious economic crime as part of wider efforts to stem dirty money flows into the country from Russia and elsewhere, four sources with knowledge of the matter told Reuters. More than half a dozen banks are in advanced talks with British [...]
