Bank of England warns pace of rate cuts ‘shrouded in uncertainty’ June 3, 2025 The pace of UK interest rate cuts is “shrouded in a lot more uncertainty” due to the “unpredictable” global economic situation, the governor of the Bank of England has said. Andrew Bailey told MPs during a Treasury Committee session that while rates are on a “glide path” downwards the Bank had “genuine concerns” about escalating [...]
Sizewell C nuclear power station to get green light in July June 3, 2025 Sizewell C well get the green light at the Franco-British summit in July as talks between ministers and the private sector continue. The UK government is expected to reaffirm its intention to invest in the nuclear power station at the spending review on June 11, with details about how much taxpayer support the project will [...]
Thames Water: What next after KKR walks? June 3, 2025 Thames Water was dealt a crushing blow this morning after its preferred bidder, the US private equity giant KKR, abruptly withdrew from its pursuit of the embattled utility. The decision leaves the UK’s largest water supplier without a buyer and puts it back on the brink of administration. It follows just a week after it [...]
Is June the time to buy Premium Bonds? June 3, 2025 Premium Bond prizes range from £25 to £1m, but the odds of winning can feel very small compared to the rate savings accounts offer right now. Over 24m people in the UK own Premium Bonds, a savings vehicle offered by Treasury-backed National Savings and Investments (NS&I). Winners for June are due to be announced over [...]
Big Four giants eye AI assurance tools to tap in on client concerns June 3, 2025 The majority of the Big Four giants are developing a new audit system for AI tools as they hope to tap into a new revenue stream
Environment secretary says Thames Water has ‘a number’ of options June 3, 2025 Environment secretary Steve Reed told LBC’s Nick Ferrari that there are “a number” of potential investors for Thames Water, just minutes after news broke that US private equity firm KKR had dropped out of a last ditch effort to save the embattled water giant. Reed had already been booked to appear for a ‘Call the [...]
OECD: Rachel Reeves’ ‘insufficient’ fiscal headroom poses risk to UK economy June 3, 2025 The OECD has warned Rachel Reeves’ wafer thin fiscal headroom poses a significant risk to the UK economy as it cut its growth outlook for Britain in 2025 and 2026. The economic organisation urged the Treasury to “step up” efforts to bolster its “very thin” fiscal headroom, expressing concern that it could cause “significant downside [...]
MJ Gleeson: Shares plummet after profit warning as property market struggles June 3, 2025 Housebuilder MJ Gleeson has warned of a 15-20 per cent hit to its profit this year due to a slow housing market recovery and the collapse of a land sale in Yorkshire. The company told markets this morning that the pace of housing market recovery in the UK has “not been sufficient” to offset the [...]
F1 Arcade: London spot where you pay £100 to taste Formula 1 lifestyle June 3, 2025 With Formula 1’s rapid fandom rise, it was only a matter of time before you paid £100 to watch an F1 race down at your local. Matt Hardy takes a look at F1 Arcade. The seemingly sudden rise in Formula 1 interest among non-petrol heads has been nothing short of astonishing. In its 75th year [...]
Pennon Group: FTSE 250 water firm swings to loss after parasite scandal June 3, 2025 Pennon Group, the British utility firm which owns South West Water, swung to a loss in the latest financial year after struggles driven by the Brixham water supply scandal. The FTSE 250 company made a loss of £35.1m for the year, which the firm said was in line with management expectations. It marked a steep [...]