Liz Truss to become Britain’s next Prime Minister after winning Tory leadership race September 5, 2022 Liz Truss will be crowned as the UK’s new Prime Minister tomorrow, after winning the Conservative party leadership contest. Truss today beat out rival Rishi Sunak at the end of the two-month contest and will be appointed as Prime Minister by the Queen tomorrow in Balmoral. Truss won just over 57 per cent of the [...]
Sadiq Khan: Liz Truss, let’s turn the page for London and the UK’s benefit alike September 5, 2022 Sadiq Khan: One of my biggest hopes it that Liz Truss will put a stop the divisive, anti-London approach pursued by her predecessors
Pound Sterling crashes to jaw-dropping 37-year low as City awaits name of new Prime Minister September 5, 2022 Pound Sterling dropped this morning below its pandemic lows against the dollar after weeks of weakening, sending it to the lowest point in decades. It means that it has been 37 years since British holidaymakers in the US, and importers bringing products into the UK, got so little bang for their pound. It briefly fell [...]
Londoners defaulting on debt faster than rest of UK as borrowing used to meet rising costs September 5, 2022 Londoners are defaulting on their debts faster than the rest of the country, as Brits are forced to borrow more at higher rates to keep up with soaring inflation. Figures released by the Urban Institute in its Financial Vulnerability Index showed households increased borrowing in spite of interest rates going up, in a bid to [...]
Bitcoin holding ground in a narrow range, but struggling to breach $20,000 September 5, 2022 Bitcoin is currently changing hands for $19,783.04, up 0.25 per cent over the past 24 hours as it holds below $20,000.
Sigh of relief in Britain’s automotive space as new car market stabilises after months of decline September 5, 2022 New figures show this morning that months of decline in the new car market has come to a halt. Registrations of new cars increased by 1.2 per cent last month compared with August 2021, according to the Society of Motor Manufacturers and Traders (SMMT). Some 68,858 new cars were registered in the first monthly growth [...]
This week: Housebuilding space to come under spotlight with key players revealing results September 5, 2022 Investors will get a good idea of how the housing market is faring with a trio of leading housebuilders unveiling financial results this week. Barratt Developments, Berkeley Group and Vistry are all set to update shareholders on their performance amid reports the housing sector is losing steam. London-listed housebuilding giants Barratt, Berkeley, Persimmon and Taylor [...]
Britain is being failed by a lumbering digital state September 5, 2022 If you’re struggling to heat your home, how would you feel if you just missed out on £1,467 because of a computer glitch? In May this year, Rishi Sunak was blocked from raising benefits in line with inflation. The culprit? A 40-year-old IT system unable to process more than one benefit rise a year. Ineffective [...]
Truss appears to soften Bank of England independence stance September 4, 2022 Liz Truss appeared to soften her stance on the Bank of England’s level of independence today as the Tory party prepares to crown a new leader and Prime Minister. Truss, the presumptive next Prime Minister, said she was a “great believer” in the Bank of England’s independence and that she would not “countermand to the [...]
Central banks highlight week ahead on global stage September 4, 2022 Central banks will yet again be closely watched this week, with policymakers right across the world still attempting to get a handle on out of control inflation pressures. This week will see Aussie chief Philip Lowe announce what markets expect to be a further rate rise, up north of 2 per cent. Then on Wednesday, [...]