Has Rachel Reeves talked the UK economy into a downturn? November 15, 2024 The economy expanded just 0.1 per cent in the three months to September, below expectations and down from a 0.5 per cent expansion in the previous quarter.
Landsec returns to profit as London property market stabilises November 15, 2024 British property investment trust Land Securities, known as Landsec, swung back into profit and hiked its forecast for the year today after a rebound in occupancy and rental income in London. Landsec told markets this morning that it had returned to the black in the first half of the year, reporting profit after tax of £243m [...]
Firms blame Budget uncertainty as economy slows sharply in third quarter November 15, 2024 The UK grew at a slower pace than expected in the third quarter, according to new figures, with business groups pointing to the impact of uncertainty ahead of last month’s Budget. New figures from the Office for National Statistics (ONS) showed that the economy grew 0.1 per cent in the third quarter, after contracting 0.1 [...]
Cinemas warn tax hikes may cause credits to roll November 15, 2024 The UK cinema industry has warned that higher taxes on employees’ wages announced in the Budget will be the final straw for some venues in what has become a core cultural industry. Chancellor Rachel Reeves increased the amount employers have to pay in NICs by 1.2 per cent, and lowered the wage threshold employers must start paying [...]
Use development orders to tackle housing crisis, ministers told November 15, 2024 The UK government should use development orders to circumvent the planning regime, build homes and address the housing crisis, a new report has argued. Ministers should deploy existing powers – known as local development orders, which allow specific development in certain areas without a planning application – to turbocharge housebuilding, the Adam Smith Institute (ASI) [...]
Former fintech ‘unicorn’ Truelayer laid off a quarter of staff in one day November 15, 2024 Former fintech ‘unicorn’ Truelayer laid off roughly a quarter of its workforce in a single day as part of an effort to slash costs and become profitable, City AM can reveal. The London-based firm axed 71 roles at the end of September a week before announcing a $50m funding round that lowered its valuation, according [...]
Reeves warns financial regulation has gone ‘too far’ in pledge to unleash the City November 14, 2024 The Chancellor Rachel Reeves warned that financial regulation had “gone too far” last night as she pledged to rip up red tape and put the City watchdogs on a growth footing. In her maiden Mansion House speech in the Square Mile, Reeves said that regulatory measures brought in since the financial crisis in 2008 have [...]
Bank of England boss touts benefits of free trade as Trump tariffs loom November 14, 2024 With protectionism coming back into fashion around the world, Bailey owned up to being an "old-fashioned free trader at heart".
Why Rachel Reeves’s pension reforms might not be as ‘radical’ as she thinks November 14, 2024 While her changes may constitute the biggest overhaul of the pensions sector in decades, some in the City say the truly radical option remains firmly in the back pocket.
Which FTSE 100 companies are most exposed to Donald Trump? November 14, 2024 The FTSE 100 has dropped by more than one per cent following the election of Donald Trump as US president, hitting a three-month low earlier this week. Meanwhile, the S&P 500 has been soaring, leading to a clear divergence between the two indexes. While not all of the poor performance of the FTSE 100 can [...]
