UK inflation will drop back to Bank of England two per cent target by end of this year, economists predict February 22, 2023 Inflation in the UK is on track to fall exactly back to the Bank of England’s target by the end of this year, according to forecasts by two top City of London economists. The rate of price increases will tumble to two per cent in the final three months of 2023, according to Pantheon Macroeconomics. [...]
Cost of living crisis forces Brits to abandon saving, with more than one in five taking on EXTRA debt February 22, 2023 The cost of living crisis is poised to force Brits to shun setting cash aside each month for a rainy day, official figures out today show. More than four in 10 of the population expect to save no money whatsoever over the next year, according to the Office for National Statistics (ONS). Inflation has raced [...]
UK tech firm numbers double in two years – with London start-up growth lower than nearly all other regions February 22, 2023 The number of newly-created UK tech firms is up by a fifth, with London marginally below the national average. There were 46,474 new tech companies created in Britain in 2022, up from 38,240 in 2021. Based on data from Companies House, the uptick in registrations of new firms is almost double that of 2020, when [...]
Crypto investors look through hawkish Fed minutes to focus on fundamentals February 22, 2023 Experienced crypto investors will be prepared to look through any near-term inflation and interest rate news, says Nigel Green.
The Notebook: Victoria Scholar on a wave of bank results, Elon Musk, and a holiday read February 22, 2023 The Notebook is where interesting people say interesting things. Today it’s Victoria Scholar, head of investment at interactive investor, on bank results, Elon Musk and an unputdownable holiday read Bank on it? With UK banks currently reporting earnings, key themes so far have been rising interest rates, growing credit loss provisions, share buybacks, volatile financial [...]
Last orders? Pubs ‘won’t stay afloat’ without energy bill help in Spring Budget, hospitality bosses warn February 22, 2023 The hospitality sector has urged that many businesses “wont stay afloat” if the government does not look to provide extra support with soaring energy bills in its upcoming spring budget. “The steep increase in utility costs is having a significant impact on our business, it’s now one of the largest cost to manage,” Simon King [...]
Hundreds of jobs at risk as Chinese-owned British Steel set to announce closure of Scunthorpe plant February 22, 2023 Unions fear British Steel is set to announce the closure of coking ovens at one of its plants, with the loss of hundreds of jobs as the company warns it faces “significant challenges”. Union officials were told earlier this month the Chinese-owned company was considering closing coke ovens at its site in Scunthorpe. An announcement [...]
Rio Tinto rocked by weaker commodity prices as it reports steep downturn in profits February 22, 2023 Higher energy costs, inflation, and downward pressure on commodity prices has weighed on profits at multinational miner Rio Tinto.
UK risks falling behind US and EU in green energy race, warn MPs February 22, 2023 MPs are piling pressure on the government to compete with rival markets for green energy investment, such as the US and EU.
Growing ‘valley of death’ funding gap could scupper UK tech ambitions, industry bosses warn February 22, 2023 A growing ‘valley of death’ funding gap facing the UK’s tech sector could scupper the government’s Silicon Valley ambitions as firms struggle to raise cash and fuel growth, tech investors have warned. Venture capital funding into the UK faltered last year amid a global slowdown as soaring inflation and market volatility caused investors to pull [...]