Bank of England holds interest rates and downgrades growth forecasts December 19, 2024 The Bank of England held interest rates at 4.75 per cent today, while downgrading economic forecasts for the UK towards stagnant growth. Only six members of the Bank’s Monetary Policy Committee voted to keep interest rates steady, less than had been expected, as three voted to cut rates by 0.25 per cent citing fears over [...]
Inflation spike ‘raises questions’ over health of UK economy December 18, 2024 The spike in inflation to 2.6 per cent today has raised questions about the health of the UK economy, according to analysts. The news comes ahead of the Bank of England’s meeting to decide the path of interest rates tomorrow, with markets agreeing that combined with higher-than-expected wage growth yesterday, a cut is off the [...]
UK inflation spikes ahead of Bank of England rates decision December 18, 2024 UK inflation spiked to 2.6 per cent ahead of the Bank of England’s meeting to decide interest rates later this week. Year-on-year inflation matched expectations of 2.6 per cent in November, up from 2.3 per cent in October, data from the Office for National Statistics revealed. Meanwhile, core inflation, which strips out volatile commodities like [...]
Haribo boss: How I went from being too ‘optimistic and challenging’ to leading sweet giant December 17, 2024 The UK boss of Haribo has revealed how he's changed from being too "optimistic and challenging" now he's leading the sweets giant.
Cook: ‘Upmarket ready meal business is like a 27-year game of Monopoly’ December 16, 2024 Upmarket ready meal maker Cook has compared its financial position to a near-three decade long game of Monopoly as it hailed being in “the best shape it has been in for a long while”. The Kent-headquartered business said that it if the firm was a 27-year game of Monopoly, “we would now be in a [...]
UK inflation expected to rise again in fresh blow to Labour December 16, 2024 Official data this week is expected to show inflation moved further away from the Bank of England's two per cent target in November, dealing another blow to the government after a contraction in GDP.
US inflation ticks up as market holds breath for Fed cut December 11, 2024 US inflation ticked up to 2.7 per cent in November, a rise from 2.6 per cent in October and matching analyst expectations. This was the highest level of inflation that the US has experienced since July, after dipping to as low as 2.4 per cent throughout September. Inflation has not been below its 2 per [...]
M&S and Waitrose meal deal maker Greencore rebuilds profits December 3, 2024 Food manufacturer Greencore has experienced a “stronger than expected” year of trade as the meal deal producer rebuilds profitability ahead of 2025. The Irish business, which supplies sandwiches and sushi to the likes of M&S and Waitrose, told markets this morning that like-for-like sales jumped from 29.7 per cent to 33.2 per cent in the [...]
Manufacturing activity drops to nine-month low following Budget December 2, 2024 Rob Dobson, director at S&P Global Market Intelligence, said manufacturing was struggling due to a combination of high costs, weak demand and concerns over the economic outlook.
Nando’s to open new UK restaurants as peri-peri chicken chain cuts loss November 29, 2024 Nando’s has revealed plans to open new restaurants across the UK after it cut its pre-tax loss during its latest financial year. The chain, famed for its peri-peri chicken, is to open 14 sites during its current financial year. It has already launched new restaurants in Edinburgh, Newcastle, Doncaster, Taplow, Bognor, Watford, Northampton and Belfast. In [...]