UK sinks into unprecedented, record-breaking trade deficit with USA as low pound balloons imports value August 16, 2022 The latest trade in goods data demonstrates a weakening trade performance of the UK with the United States, the nation’s largest single-country export partner. In Q1 and Q2 2022, the UK imported £15bn – a quarterly record – and £13.8bn worth of goods from the United States as imports bounced back from a pandemic-induced dip [...]
Kenya descends into political chaos as ‘Hustler’ William Ruto is named new president but electoral committee falls apart August 15, 2022 Kenya’s electoral committee has just said William Ruto has won the country’s 2022 presidential election, which took place last Tuesday. The announcement comes minutes after fighting broke out at Bomas of Kenya, where the election results were announced. Despite four electoral committee members walking out and ‘disowning’ the result, the IEBC went ahead and said [...]
BREAKING – Kenya in shock as election descends into chaos: Electoral committee falls apart and fighting erupts August 15, 2022 Kenya’s electoral committee has fallen apart in a surprise development that is sending shockwaves through Kenya. Four committee members have “distanced” themselves from the IEBC in an unprecedented historic move. The four officials walked out minutes before the electoral body was supposed to announce formal election results this afternoon. In dramatic scenes in Nairobi, fighting [...]
Hospitality sector sounds alarm bells: Pub and restaurant closures loom as energy bill jumps of 300 per cent August 15, 2022 There will be mass closures without urgent support on soaring energy prices, pubs, restaurants and music venue leaders warned the Government today. Industry bodies UK Hospitality, Night-Time Industries Association, Music Venue Trust, The British Institute of Innkeeping and The British Beer and Pub Association, have written to the prime minister, Boris Johnson, the Chancellor, Nadhim [...]
Govt reassures commuters next year’s rail fares rise will be below inflation rate August 15, 2022 The government said this morning that next year’s increase in rail fares in England will be below the current rate of inflation. Changes in regulated fares such as season tickets are traditionally implemented on the first working day of the year and based on the previous July’s retail price index (RPI), which for 2022 will [...]
House prices continue to climb in nightmare scenario for first-time buyers even though buyer interest is slowing August 15, 2022 House prices continue to move firmly upwards and are still expected to be higher in a year’s time, according to the Royal Institution of Chartered Surveyors (RICS) this afternoon. The numbers are somewhat surprising given that surveyors have seen the longest stretch of shrinking buyer demand in the housing market since the early stages of [...]
Brits in EU slide into Brexit banking limbo as some UK banks shut their accounts August 15, 2022 Thousands of Brits residing in the EU have been informed by UK banks that their EU-based bank accounts will soon be shut. A range of British banks, including Barclays, have told UK citizens living in the EU that they will no longer be able to have and use their account in member states, primarily in [...]
New virus outbreak: As Langya spreads across China, just how worried should we be? August 13, 2022 A new virus, Langya, is suspected to have caused infections in 35 people in China’s Shandong and Henan provinces. It’s related to Hendra and Nipah viruses, which cause disease in humans. However, there’s much we don’t know about the new virus – known as LayV for short – including whether it spreads from human to human. Therefore, [...]
Record £300bn wiped off UK bonds and gilts as investors flee in biggest market collapse in decades August 13, 2022 Just under £300bn has been wiped off the value of UK corporate bonds since the start of this year following a major sell-off in the bond market in what is considered the biggest collapse in two decades. In the first six months of this year, the total outstanding value of UK corporate bonds has fallen [...]
What the new interest rates mean for the City: ‘The UK fares worse than the EU and US’ August 13, 2022 The Bank of England’s decision to further raise interest rates from 1.25 per cent to 1.75 per cent and its two-year predictions means bad news for investors and UK residents alike. And the pain is far from over. A top City analyst expects this to further rise to 2.25 per cent in September. Other than [...]
