UK services growth slumps to six-month low despite record hiring rates September 3, 2021 UK services firms hired workers at the fastest pace on record in August to cope with soaring demand, but growth in the industry slumped to a six-month low amid severe shortages, according to a closely watched survey released today. The latest IHS Markit / CIPS UK services PMI survey dropped to 55.0 in August, the [...]
Extinction Rebellion blocks roads outside Bank of England September 2, 2021 Roads outside the Bank of England remain closed as Extinction Rebellion protestors, including 50 activists who are breaking bail conditions, stage a sit-in. In a Tweet this afternoon, the Metropolitan Police confirmed that Queen Victoria Street is closed after green activists made their way from the Tate Modern to the doors of the Bank of [...]
Another Goldman banker or a much needed hawkish voice: Who is Huw Pill? September 2, 2021 Much has been made over whether the corridors of the Bank of England will resemble a Goldman Sachs office following the appointment of Huw Pill as the Old Lady’s new chief economist. It does follow a string of high-profile appointments at the Bank in recent years from the pool of Goldman alumni. Mark Carney, who [...]
IoD appoints former Labour MP Kitty Ussher as new chief economist September 2, 2021 The Institute of Directors has named former Labour MP Kitty Ussher as its new chief economist, the organisation announced today. Ussher has vast experience in providing macroeconomic and public policy advice, serving as the chief economic adviser to the cross-party think tank, Demos, and economic secretary to the Treasury during the financial crisis. Kitty Ussher [...]
Ex-chancellor Philip Hammond accused of lobbying the Treasury by watchdog September 2, 2021 A parliamentary committee has judged that former chancellor Phillip Hammond, breached lobbying rules. The Advisory Committee on Business Appointments (ACOBA) claims that by contacting a senior Treasury secretary on behalf of a bank he works for Lord Hammond broke committee guidance. Hammond defended the action in a letter to committee chair Lord Eric Pickles. He [...]
Huw Pill succeeds Andy Haldane as Bank of England’s chief economist September 1, 2021 The Bank of England has appointed Huw Pill as its new chief economist, ending a prolonged search for Andy Haldane’s successor, it announced today. Pill joins the Bank of England from Harvard Business School, where he has been a senior lecturer since 2018. Prior to teaching, he was Goldman Sachs’ chief European economist and has [...]
Britons save £7bn in July amid covid money worries September 1, 2021 Britons saved £7bn in July as concerns over Covid-19 and the pingdemic prompted people to hide away their cash. The jump in savings caused total funds deposited in bank accounts since the since the start of the pandemic to rise to almost £230bn, according to the Bank of England. A spokesperson for Hargreaves Lansdown, the [...]
Traffic chaos: Extinction Rebellion occupy London Bridge and BoE sites August 31, 2021 Traffic in the heart of London has ground to a halt as Extinction Rebellion (XR) activists stage occupations of key roads during the ninth consecutive day of protests. Helicopters could be heard overhead as Police blocked off London Bridge, the site of an Extinction Rebellion occupation where activists have glued themselves to a bus blocking [...]
Stamp duty taper triggers dip in mortgage approvals August 31, 2021 Mortgage approvals declined over the last month as the tapering of the stamp duty holiday deterred Brits from pushing ahead with homepurchases, according to official data published today. Data from the Bank of England shows there were 75,152 mortgage approvals in July, the first full month after the stamp duty taper, down from 80,272 in [...]
Calls for four more bank holidays on last national break before Christmas August 30, 2021 Union leaders are calling on the Government to create four new public holidays as workers enjoy the last national break before Christmas. The TUC said the eight bank holidays a year that workers in England and Wales are entitled to is much less than other countries. Workers in Scotland have 11 public holidays this year, [...]