Canary Wharf life science hub appoints contractor to transform Elizabeth Line-linked site January 9, 2025 Construction services organisation Morgan Sindall has been appointed lead contractor for a huge office-to-labs conversion in Canary Wharf. The plans for 17 Columbus Courtyard (17CC), which were approved by Tower Hamlets in 2023, will see the existing building transformed into a new state-of-the-art life science and technology hub. When the building is completed in 2026, [...]
Price hikes are coming as firms battle Reeves tax raid, Bank of England survey suggests January 9, 2025 The Bank's latest decision maker panel, which surveys finance chiefs around the country, showed that firms' inflation expectations picked up in December.
Pound sterling continues to sink as UK economy ‘clearly on very shaky ground’ January 9, 2025 Pound sterling has continued to sell off this morning, and UK government bond yields have ticked higher as UK risk assets remain under pressure. The pound fell below $1.23 against the dollar in early trade and is currently down 0.7 per cent against the dollar and 0.6 per cent against the euro. Meanwhile, the domestically [...]
Food inflation to hit 4.2 per cent in 2025 as cost pressures loom, BRC warns January 9, 2025 According to projections from the BRC, food prices will rise by an average of 4.2 per cent in the second half of 2025.
Give parliament a vote on quantitative easing January 9, 2025 QE should not be the preserve of bean-counting central bankers – money printing is not an abstract issue, it has real consequences for people’s ordinary lives, says Sam Bidwell If one thing characterises British politics in the post-Thatcher era, it is a serial addiction to avoiding questions about the structure of our economy. On the [...]
Budget will force majority of firms to hike prices, survey suggests January 8, 2025 A majority of businesses will lift prices in the next six months due to the government's national insurance hike, a new survey suggests.
UK hotel sector warns on inflation despite pre-Christmas boost January 8, 2025 Occupancy rates at UK hotels rose last November in a pre-Christmas boost, but higher prices have again raised fears about inflation. The average occupancy rate of UK hotels rose from 76.6 per cent to 79.1 per cent in November year-on-year, while London also saw an increase from 79.6 per cent to 82.8 per cent in [...]
Former Bank of England governor Carney eyes Canadian PM role January 7, 2025 Former Bank of England governor Mark Carney is eyeing up the soon-to-be vacant role of Canada’s next Prime Minister. The Canadian-born economist confirmed he is considering the position in an interview today, following Justin Trudeau’s announcement that he will resign after nine years yesterday. Outside his residence at Rideau Cottage, in Ottawa, Trudeau said “internal battles” [...]
Construction momentum fades amid fragile consumer confidence January 7, 2025 Construction activity in the UK economy fell to a six-month low in December, a new survey shows, with momentum slowing across the sector. Housebuilding activity slipped deeper into contraction, according to S&P’s construction purchasing managers’ index (PMI), while growth in commercial and civil engineering work slowed compared to the month before. This meant that the [...]
Buying a house? Pay in cash for a £28k discount January 7, 2025 Buying a house is the largest purchase most of us will make in a lifetime – but it may be cheaper for some than others. Cash buyers now pay £28,000 less on average for a home than those relying on a mortgage, and the ‘cash discount’ has risen by 12.4 per cent in just two [...]