UK services sent into decline amid ‘market turbulence’ May 6, 2025 UK output was sent into decline by “market turbulence” in April for the first time in one and a half years, prompting fears that Chancellor Reeves’ £40bn tax raid last autumn was damaging the country’s services economy. The services sector, which is seen as the engine behind UK growth, had been on a 17-month winning [...]
UK tariff threats put small businesses on alert May 6, 2025 UK small businesses have already taken steps to reduce trading with the US amid a temporary reprieve from tariffs, a leading industry group has suggested. The Labour government is yet to rule out retaliatory tariffs on US goods given President Trump’s trade war could hit UK exporters in under three months. But new research indicates [...]
When words matter more than numbers at the Bank of England May 5, 2025 City analysts have pencilled in their predictions for Thursday. Here’s how almost all of them likely read. Interest rates will be cut to 4.25 per cent, the Bank of England’s inflation forecast for this year will exceed its two per cent target and President Trump’s tariffs will be highlighted as a detriment to UK growth. [...]
Amazon row proves Trump’s America is an unreliable partner for business May 5, 2025 Trump’s overreaction to an unconfirmed story about Amazon including the cost of tariffs on its price labels businesses must now navigate a landscape where loyalty to the President matters more than logic, says Eliot Wilson It started with Punchbowl News. On Tuesday last week, as Donald Trump was marking 100 days in office, the Capitol [...]
Bank of England set to cut interest rates as US tariffs in focus May 4, 2025 UK interest rates are set to be cut to 4.25 per cent as the Bank of England eases costs for borrowers while it digests the impact of US tariffs on the economy. Most economists are expecting rates to be reduced by 0.25 percentage points on Thursday. Sandra Horsfield, an economist for Investec, said it is [...]
Breadmakers Hovis and Kingsmill in merger talks May 3, 2025 The owners of two of Britain’s biggest bread producers – Hovis and Kingsmill – are reportedly in discussions regarding a merger between the two firms as challenges deepen for the market. Associated British Foods (ABF), the owner of Kingsmill’s parent company Allied Bakeries, and investment firm Endless, which owns Hovis, are in talks about a [...]
US manufacturing sees job losses despite Trump’s hopes of a revival May 2, 2025 US manufacturing suffered 1,000 job losses in April in a blow to President Trump’s hopes to drive up employment in the sector. Trump’s ‘Liberation Day’ tariffs set out to cut the country’s goods deficit as he looked to protectionist measures to revive the country’s stuttering manufacturing sector. But new data showed no immediate improvement to [...]
Chelsea move to digital tickets after banning 2,000 fans for touting May 1, 2025 Chelsea have revealed further details of their switch to digital tickets next season, which the football club says it hopes will stamp out touting. The Premier League outfit have cancelled 2,000 memberships linked to touting this season and believe that the new digital system will provide greater security. It comes a year before the top [...]
Mortgage borrowing surges ahead of stamp duty changes May 1, 2025 Net borrowing or mortgages spiked by £9.7bn in March as house buyers looked to clinch deals before higher stamp duty taxes came into effect. Net borrowing levels exceeded £13bn, according to the Bank of England, as the rise compared to February beat market forecasts of £3.2bn. EY ITEM Club’s Matt Swannell said the surge in [...]
Manufacturing edges towards year of decline amid ‘noticeable impact’ of tariffs May 1, 2025 UK manufacturing’s falling production levels show no signs of ending as the spectre of tariffs brings a “noticeable impact” on exporters’ sales, leading analysts have said. Firms have had to navigate through sticky inflation and high energy costs for the best part of three years as the UK’s weakened economy has failed to bounce back [...]