Property analysts forecast strong spring as stamp duty deadline looms January 10, 2025 Activity in the UK’s property market closely followed government policies on tax last year, something set to continue as the reality of the stamp duty deadline sinks in for first-time buyers. Real estate experts have predicted a burst of activity in early spring ahead of the end of stamp duty relief for first homes, which [...]
Bank of England’s Breeden backs ‘gradual’ interest rate cuts January 9, 2025 A Bank of England rate-setter said she expects to back “gradual” interest rate cuts this year due to continued uncertainties about the economic outlook. Speaking in Edinburgh, Sarah Breeden said inflation had come down faster than expected throughout 2024, which will enable the Bank to continue lowering borrowing costs. “The recent evidence further supports the [...]
What’s behind the bond market turmoil? January 9, 2025 Although the jitters had calmed somewhat by Thursday afternoon, traders will be on high alert over the coming days.
Liz Truss sends cease and desist letter to Starmer over economy crash claims January 9, 2025 Liz Truss has sent a cease and desist letter to Keir Starmer demanding he stops claiming she crashed the economy. Lawyers acting on behalf of the former Prime Minister wrote that the statement is “false and defamatory”, in a letter to Starmer in which they threatened to pursue legal action if he keeps making the [...]
De La Rue: Bank of England supplier’s stock surges on takeover offer January 9, 2025 Bank of England supplier De La Rue has received a £246m takeover offer, according to reports, sending its stock price surging more than 12 per cent. The banknote printer has been offered 125p a share in a conditional offer, roughly 25 per cent higher than its stock price before the news, by companies founded by [...]
Bond tumult prompts comparisons with Britain’s 1970s debt crisis January 9, 2025 The turmoil engulfing the UK gilt market has shades of the country’s debt crisis in the 1970s which culminated in the then Labour government needing a bailout from the IMF, according to multiple financial heavyweights. Nigel Green, chief executive of of the the world’s largest independent advisory businesses, called the market bedlam, which has seen [...]
Canary Wharf life science hub appoints contractor to transform Elizabeth Line-linked site January 9, 2025 Construction services organisation Morgan Sindall has been appointed lead contractor for a huge office-to-labs conversion in Canary Wharf. The plans for 17 Columbus Courtyard (17CC), which were approved by Tower Hamlets in 2023, will see the existing building transformed into a new state-of-the-art life science and technology hub. When the building is completed in 2026, [...]
Price hikes are coming as firms battle Reeves tax raid, Bank of England survey suggests January 9, 2025 The Bank's latest decision maker panel, which surveys finance chiefs around the country, showed that firms' inflation expectations picked up in December.
Pound sterling continues to sink as UK economy ‘clearly on very shaky ground’ January 9, 2025 Pound sterling has continued to sell off this morning, and UK government bond yields have ticked higher as UK risk assets remain under pressure. The pound fell below $1.23 against the dollar in early trade and is currently down 0.7 per cent against the dollar and 0.6 per cent against the euro. Meanwhile, the domestically [...]
Food inflation to hit 4.2 per cent in 2025 as cost pressures loom, BRC warns January 9, 2025 According to projections from the BRC, food prices will rise by an average of 4.2 per cent in the second half of 2025.