Recession spreads to British construction as experts brace for a jump in unemployment and the cost of living January 6, 2023 British builders are being dragged into a slump by the recession that has taken hold in the wider economy, a closely watched survey has revealed.. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for the construction sector for December fell to 48.8 from 50.4. The reading means [...]
CBDCs – the future of banking or an Orwellian Nightmare? January 6, 2023 Susie Violet Ward presents the case against central bank digital currencies, arguing they're a one-way ticket to trouble.
Pound sterling: 2023 could be another torrid year as it tumbles to November low against US dollar January 6, 2023 The pound has tumbled to its lowest level against the US dollar since November, pushed down by investors on both sides of the Atlantic betting the Federal Reserve will keep raising interest rates aggressively this year. The currency dropped a shade over 0.2 per cent to $1.19 this morning, leaving it trading at pre-Christmas levels. [...]
London house prices grow in December with UK homes falling, but 2023 set to bring good news for property owners January 6, 2023 London’s average property price grew by almost 3 per cent, while the average UK home fell 1.5 per cent between November and December 2022. The average property actually rose two per cent when compared with the same month in 2021, according to the latest Halifax house price data, while annual rate of house price growth [...]
The verdict: Experts react to Keir Starmer’s plan for the economy January 5, 2023 Keir Starmer is right to harness the power of government and business working together to fix the UK economy, but “time will tell” whether Labour sticks to sensible spending, economists judged after his maiden speech of 2023 today. Speaking in East London, the opposition leader promised to work side by side with private firms to [...]
Cricket champions Surrey swap Adidas for Andy Murray-backed City boys’ startup January 5, 2023 Surrey County Cricket Club have become the latest team to sign a deal with Castore, the Andy Murray-backed British sportswear startup founded by two former City workers. The reigning men’s County Champions today announced a multi-year agreement for their men’s and women’s teams to swap Adidas kit for apparel made by Castore, starting in the [...]
Starmer promises Labour will deliver ‘decade of renewal’ after doubts cast over Sunak pledges January 4, 2023 A Labour government will deliver “a decade of national renewal” to show “the light at the end of the tunnel” for the British people, opposition leader Sir Keir Starmer will claim in his first speech of 2023 tomorrow. Speaking in Stratford, East London, Starmer, 60, is set to characterise the more than decade of Conservative [...]
Recession in “full swing” as inflation puts small businesses in “critical” state January 4, 2023 Recession in Britain is now in full swing with experts warning of a “critical” situation for small businesses up and down the country, according to fresh data, as the economy turns sour to start 2023. Brits are reining in spending to withstand the impact of record-high inflation on their budgets, resulting in one in four [...]
Bank of England publishes list of questions asked by suitors for its CBDC wallet January 4, 2023 The Bank of England has revealed more than 70 questions asked by applicants keen to win the contract create a wallet for its CBDC project.
Crypto horse bolted well before US regulators’ warning shot, analysts say January 4, 2023 Crypto analysts warned that US regulators may be trying to “shut the stable door after the horse has bolted” today after the US central bank and financial watchdogs sounded the alarm over the risks that cryptocurrencies could pose to mainstream lenders. The Federal Reserve, alongside the Federal Deposit Insurance Corporation and the Office of the [...]