Storm Lilian: British Airways cancels flights as Leeds Festival shuts two stages August 23, 2024 The impending chaos from Storm Lilian is already causing massive disruption across the UK as millions of Brits look to get away for the Bank Holiday Weekend. Weather warnings have been issued on Friday as the tail-end of the hurricane has brought strong winds exceeding 70mph to northern parts of England and Wales on Friday, [...]
Bank of England warned to be wary of public sector pay deals August 23, 2024 "The big risk is that by setting a benchmark for private sector firms, these pay deals prevent wage growth and services inflation from falling much further," Ashley Webb, UK economist at Capital Economics said.
UK economy still Europe’s ‘bright spot’ after latest PMI surveys August 23, 2024 The latest 'flash' purchasing managers' index (PMIs), released yesterday by S&P, showed that the UK maintained its advantage over rivals on the continent in August.
Consumer confidence unchanged in August despite worsening outlook August 23, 2024 Consumer confidence remained unchanged in August, a closely watched survey suggested, despite a deterioration in households’ expectations for the broader economy. GfK’s overall consumer confidence index remained at -13 with an improving picture on the personal finance side helping to offset worsening confidence in the economy as a whole. This meant overall consumer confidence remained [...]
‘Sticky’ hurdle rates contributing to resilient UK business investment August 22, 2024 Research from the Bank shows that firms' use of 'hurdle rates' might be slowing the impact of higher interest rates.
UK credit unions report surge in loans after demise of payday lenders August 22, 2024 Lending by UK credit unions has surged in recent years, following the collapse of major payday lenders and cost of living pressures fueling a rise in demand for credit.
Growth set to continue as confidence in the economy builds August 22, 2024 A closely watched survey suggests that the UK will continue growing at a robust pace in the second half of the year as confidence in the economy continues to build. S&P’s ‘flash’ purchasing managers’s index (PMI) accelerated to 53.4 in August, up from 52.8 last month and ahead of the 52.9 expected by economists. PMIs, [...]
AI can jump-start UK productivity – we just need to get over our trust issues August 22, 2024 Artificial intelligence can be the productivity cure it promises to be - but we need a little trust, writes Daniel Pell.
Social rent increases may not ‘move dial’ on housebuilding, Rachel Reeves warned August 21, 2024 Rachel Reeves’ plans to increase social rent may not “move the dial in a material way” on council housebuilding, a corporate finance firm is warning. The Chancellor will reportedly up social rent by bringing in a decade-long formula to raise housing costs in England boosted by the CPI inflation measure – currently 2.2 per cent [...]
Watkin Jones: Property developer lowers profit guidance warning of ‘slow’ outlook August 21, 2024 Property developer Watkin Jones has warned investors that a “slower than expected” summer market and “uncertainty” over the pace of interest rate cuts will weigh on its full year results, as it lowered profit guidance. In a trading update, the Aim-listed firm, which in its half-year results in May returned to profit thanks to a [...]