Nearly one million UK homeowners to have £500 a month eaten up by higher mortgage payments July 12, 2023 UK homeowners are poised to hand over a bigger chunk of their income to their lenders every month after they roll on to a new mortgage with a much higher interest rate, the Bank of England has warned today. By the end of 2026, around 1m families will be paying an at least additional £500 [...]
Bitcoin and Ethereum continue to hold the line ahead of today’s CPI figures July 12, 2023 Bitcoin and most other cryptocurrencies continue to march steadily sideways with the market leader trading around $30,700.
Corporate debt swells to record £6tn as interest rates begin to cool borrowing appetite July 12, 2023 The debt pile sitting under global corporates has swelled to record levels in the past year despite rate hikes beginning to cool firms’ appetite for borrowing, new research has revealed.
Renault and Aston Martin backer Geely to launch UK firm injecting £6bn and creating 19,000 jobs July 12, 2023 Renault and Aston Martin backer Geely have announced the launch of a new UK-based powertrain technology company, to manufacture low-emission hybrid and internal combustion engines. An investment of up to £6bn will injected into the new outfit, which will employ 19,000 workers. The two automakers said the new group would operate 17 engine plants and [...]
Oil markets await US inflation data as IEA maintains tight supply predictions July 12, 2023 Oil prices are flat in this morning trading session, as investors await the latest US inflation data for signs of future rate-hikes.
Loungers: Cafe and Bar operator looks for further expansion as cooling inflation for hospitality boosts revenue July 12, 2023 Cafe and bar operator Loungers revenues jumped 19 per cent during the year, as the owner of the Lounger and Cosy Club was bolstered by 29 new site openings. The London-listed hospitality chain recorded earnings of £47.3m which represents growth of 66 per cent since it first listed on the stock exchange in April 2019. [...]
The Interview: A hacker vigilante who could break the Internet July 12, 2023 Elena Siniscalco interviews Chris Wysopal, a friendly neighbourhood hacker who also happened to crack into Microsoft back in the '90s
Michael O’Leary slams aviation minister as Ryanair quits ‘waffling and useless’ govt advisory group July 12, 2023 Ryanair pulled out of a key advisory group launched by the UK government to support its aviation strategy, slamming the body as a “talking shop” that delivered no real change for passengers or the sector. Michael O’Leary, the budget airlines combative CEO, said yesterday that aviation minister Baroness Vere should disband the “useless council,” instead [...]
Hostelworld has record revenues thanks to ‘bed price inflation’ and return of Aussie holidays July 12, 2023 Hostelworld reported record revenues of €51.5m (£43.3m), on the back of resurgent demand for big trips to Asia and Australia and “bed price inflation” helped prop up its margins. The travel platform saw revenue growth of 57 per cent year on year, on the back of 3.4 million bookings across Europe, Asia and Australian markets [...]
Bank of England says UK’s big banks passed stress test and are ‘resilient’ to rising rates July 12, 2023 The UK’s largest lenders passed the Bank of England’s stress tests with flying colours, even as concerns grow around the health of the mortgage market. In its latest stress test, the Bank of England concluded that banks were “resilient”, enabling them to withstand persistently higher inflation and a deep global recession. “The UK banking system [...]
