Forget the IMF, the Bank of England are the real doomsters in this UK recession merry-go-round February 2, 2023 This week the International Monetary Fund (IMF) became public enemy number one for saying the UK will be the only rich economy to suffer a contraction in 2023. Even Russia, hobbled by sanctions to punish it for its invasion of Ukraine, is poised to squeeze out more growth than Britain this year, the lender of [...]
BA and Virgin to restart flights to China after three years as Beijing welcomes back visitors February 2, 2023 Virgin Atlantic and British Airways have announced they will return to China for the first time in three years following Beijing’s reopening. Richard Branson’s airline – which stopped operating flights into China in December 2020 – announced today it will resume daily flights between Heathrow and Shanghai from 1 May. Meanwhile British Airways (BA) will [...]
Bank of England signals inflation has peaked but warns of 15-month long recession February 2, 2023 Inflation in the UK has peaked and is on course to fall rapidly over the coming year, easing the worst cost of living crisis in a generation, but a slow burning, mild recession is still a threat, the Bank of England said today. The rate of price increases is poised to more than halve from [...]
Shell caps off bumper trading year with record £32.2bn profits February 2, 2023 Shell capped off a highly lucrative year of trading with bumper fourth quarter earnings of £7.9bn - with full year profits of £32.2bn.
Sunak needs to stop fighting over tax and spend and overhaul the system February 2, 2023 The calls for tax cuts are ceaseless, even in the face of evidence they won’t help us to growth, Rishi Sunak needs to stop arguing over whether or not we can afford them, and start stripping back taxation as a whole, writes Will Cooling
Johnson piles pressure on Sunak: No.10 insists ex-PM ‘acting in own capacity’ with plea to give Ukraine UK fighter jets February 1, 2023 Boris Johnson has piled pressure on Western leaders to supply fighter jets to Ukraine, setting up a clash with Rishi Sunak. The UK said it is not practical to provide sophisticated planes used by the RAF, such as Typhoons and F-35s, and US President Joe Biden has ruled out sending F-16 fighters. Downing Street stressed [...]
Ukraine: Putin preparing major offensive in eastern region of Luhansk to mark anniversary of Russia’s war, officials say February 1, 2023 Russia is mustering its military might in the Luhansk region of Ukraine, local officials said, in what Kyiv suspects is preparation for an offensive in the eastern area as the first anniversary of Moscow’s invasion approaches. The Kremlin’s forces are expelling local residents from their homes near the Russian-held parts of the front line so [...]
Octopus swallows £150m loss from rising energy bills before Bulb buy-out customer boom February 1, 2023 Octopus has reported another year of losses after the supplier opted to swallow a £150m bill in rising wholesale costs.
German inflation bungle takes shine off euro figures as ECB remains committed to aggressive rate hikes February 1, 2023 Inflation in the eurozone fell again last month but experts have warned the drop will not convince the European Central Bank (ECB) to stop hiking interest rates aggressively. The rate of price increases among the group of 19 countries using the euro dropped to 8.5 per cent annually, down from 9.2 per cent, according to [...]
Taiwan scrambles fighter jets and puts navy on alert after Chinese incursions February 1, 2023 Taiwan has scrambled fighter jets, put its navy on alert and activated missile systems in response to nearby operations of 34 Chinese military aircraft and nine warships. The Chinese deployment is part of Beijing’s strategy to unsettle and intimidate the self-governing island democracy. The large-scale manoeuvres come as Beijing increases preparations for a potential blockade [...]