Home sellers in for a shock as house prices drop across UK and overall growth slows November 7, 2022 House prices across Britain recorded the biggest monthly fall in October since early 2021, according to an index out this a.m. The average property value fell by 0.4 per cent, marking the third month-on-month drop seen in the past four months, Halifax said. The latest month-on-month decrease follows monthly falls of 0.1 per cent in [...]
Cost of living special: Which everyday items have risen in price by how much recently? November 6, 2022 New figures showed recently that retail sales volumes have plummeted to 1.3 per cent lower than pre-coronavirus levels, as rising prices and the cost of living continues to bite. The ONS data said at the end of October that in particular food store sales were down, by 1.8 per cent last month, which is 3.2 [...]
Exclusive: Brexit bites into London’s FX trading as Singapore and New York seize City’s derivatives share November 5, 2022 London’s status as the global hub for FX and derivatives trading is under threat for the first time since Brexit. According to new findings shared exclusively with City A.M. today, a study by the Bank of International Settlements (BIS) found that while the UK remains the leading hub for currencies and interest rate derivatives trading, [...]
Exclusive: ‘We have to believe the FCA does things in our best interest’ says fintech chief November 5, 2022 Telecom giant EE said this morning it is planning to burst onto the fast-growing cyber security scene. The operator unveiled new products such as alarm systems and an online cyber security package. The telco’s move underpins the fast-growing character of the cyber security space. Particularly the need for ID verification online seems to be stronger than [...]
Businesses scrambling to hire staff in heated job market despite recession picking up November 5, 2022 Businesses are still desperate for staff, with increases in adverts for occupations including childminders, school secretaries and dental practitioners, new research suggests. The Recruitment and Employment Confederation (REC) said there were 154,000 new job adverts in the week of 17-23 October, slightly lower than a month earlier. The number of adverts has remained stable at [...]
Badenoch hits back at claims India-UK trade deal could hike prices for NHS after agreement is leaked November 5, 2022 Trade secretary Kemi Badenoch has hit back at claims the NHS could be set to pay higher costs for drugs as a result of a UK-India trade deal. It has emerged that a leaked chapter of the free trade agreement (FTA) between UK and India contains provisions that suggests, amongst other things, pharmaceutical companies would be allowed [...]
Musk massacre: Thousands of Twitter staff expect to be sacked via email at 9am today November 4, 2022 Social media giant Twitter is expected to tell staff later today whether they are to be dismissed as part of job cuts in the wake of Elon Musk’s takeover. There have been suggestions that as many as half of the social media giant’s global workforce could be cut. Twitter employs more than 7,500 people around [...]
Sizewell C nuclear power plant ‘under review’ as Sunak looks to limit spending November 4, 2022 The Sizewell C nuclear power plant in Suffolk is reportedly under review as the Government looks to limit spending. The new reactor, located some 30 miles north-east of Ipswich, was expected to be built by energy firm EDF. Boris Johnson promised £700m of taxpayers’ money to the project in his final policy speech in early [...]
Rise in capital gains tax on the cards as Chancellor Hunt scrambles to raise £50bn November 4, 2022 As the Chancellor is weighing up “difficult decisions” to address a £50bn black hole in the public finances, Jeremy Hunt is looking at raising taxes on the sale of assets such as shares and property. Hunt is also considering an increase in dividend tax, in a move that would come as a blow to entrepreneurs. [...]
Recession starts to rage as UK service sector sees first decline since February 2021 November 3, 2022 The UK’s service sector saw activity decline last month for the first time since February last year. The S&P Global/CIPS UK services PMI survey showed a reading of 48.8 in October, down from 50 in the previous month. Any reading above 50 is considered growth, below that means the sector is shrinking. It was nevertheless [...]
