Brexit has contributed to UK inflation crisis, BoE’s Pill claims November 30, 2022 Brexit is partly to blame for UK inflation surging to a 41 year high and engineering a recession, the Bank of England’s top economist claimed today. Speaking at an event hosted by the Institute of Chartered Accountants, Huw Pill said worker shortages in Britain had been “met by the inflow” of EU migrants while the [...]
Truss budget fallout will drag on growth, LendInvest warns November 30, 2022 Property fintech LendInvest has warned that the fallout of Liz Truss’s disastrous mini-budget in September will drag on growth in the second half of the year, as borrowing slows amid sharp interest rate hikes.
Eurozone inflation drops for first time since mid 2021 and may have ‘passed its peak’ November 30, 2022 Inflation in Europe fell for the first time since mid 2021 and may have passed its peak, fresh figures out today reveal. Prices across the 19 countries using the euro climbed 10 per cent over the year to November, down from a rate of 10.6 per cent in October, according to Eurostat. The drop was [...]
City grinds to a halt as Just Stop Oil’s slow walk protest comes to Square Mile November 30, 2022 Just Stop Oil brought Square Mile traffic to a halt on Wednesday by slowly walking through the street. The environmental group’s tactic is designed to cause maximum disruption in protest of the government pursuing new oil and has licenses. The City of London Police tweeted earlier this morning, that: “We’re aware of a slow-walking protest [...]
Brits sit pat on Covid-19 savings mountain in sign of tougher recession November 29, 2022 Brits are sitting pat on the mountain savings they built up over the course of the Covid-19 crisis during lockdowns, official figures out today reveal. Households set aside £6.4bn in savings last month, £1.6bn higher than the average monthly deposit flow before the pandemic, according to the Bank of England. The figures illustrate consumers are [...]
Open banking should be a blueprint to create more competition across sectors November 29, 2022 When Transport for London opened up their data, it enabled the creation of Citymapper.
Crypto industry recovery fund tops $2 billion as investor allocations grow November 28, 2022 Data from CryptoCompare shows that the price of Bitcoin started last week around the $16,000 mark and quickly plunged to $15,500.
Retail sales fall off cliff in November in sign of Christmas spending slump November 28, 2022 Retail sales have fallen off a cliff, pushed by consumers reining in spending as scorching inflation eats away at their finances, a new survey out today reveals. A net 19 per cent of retailers said spending fell over the year to November, down from a net rise of 18 per cent in October, according to [...]
Police prepare for new wave of Just Stop Oil disruption in run up to Christmas November 28, 2022 The Met Police are preparing for a month of disruption from Just Stop Oil in the run up to Christmas. The force said the environmental campaign group will launching a new wave of protests from 28 November until 14 December. This comes after more than 750 activists were arrested in October and November, with over [...]
Optimism abounds in OBR forecasts, but just how feasible are they? November 28, 2022 When former Tory chancellor George Osborne created the Office for Budget Responsibility (OBR) in 2010, he was unlikely to have envisioned it would become the source of financial market turmoil. But, that upheaval was not the budget watchdog’s fault. Instead, it was former prime minister Liz Truss and ex-Number 11 incumbent Kwasi Kwarteng’s disdain toward [...]