UK economy expected to rebound August 11, 2025 The UK economy is expected to have returned to growth in June after two consecutive months of declines amid concerns about the impact President Donald Trump’s tariffs have had on the economy. Economists polled by Bloomberg expect the Office for National Statistics (ONS) to post UK growth of 0.2 per cent for June when the [...]
Starting pay growth at slowest pace since 2021 August 11, 2025 Pay for new hires rose at the slowest pace in over four years, fresh data has indicated, in signs redundancies and higher taxes are depressing wage growth. The lack of demand among recruiters and the larger number of job seekers in the UK economy has led to starting salary inflation slowing down to its lowest [...]
Interest rates likely to remain higher for longer August 8, 2025 Markets are indicating interest rates are set to stay higher for longer than expected after the Bank of England’s “hawkish cut” and gloomy inflation and growth forecasts shocked City analysts. Prior to the Bank’s interest rate cuts, markets had all but priced in a further 25 basis point cut by the end of the year, [...]
Bank of England: Future of interest rate cuts now ‘more uncertain’ August 7, 2025 The future of interest rate cuts is now “more uncertain” as the Bank of England suggested it was more worried about inflation ticking up higher than expected. In its decision on Thursday, the Bank voted 5-4 for interest rates to be cut by 25 basis points to four per cent. But the Bank now believes [...]
Tom Hayes on life as a free man: ‘I was in a very dark place’ August 7, 2025 Tom Hayes became one of the most infamous names in the Square Mile after he was convicted to 14 years in prison for rigging the Libor interest rate in 2015. It took a decade for him to clear his name. Ali Lyon meets the former banker to hear about life in prison, and what comes [...]
Bank of England cuts interest rates in historic vote August 7, 2025 The Bank of England has cut interest rates to four per cent in an unprecedented double vote as Monetary Policy Committee members clashed on the impacts of a crumbling jobs market and higher food prices. Monetary Policy Committee (MPC) members were told to vote a second time after four members voting for a 25 basis [...]
Revolut drafts in EY amid banking licence push August 7, 2025 Revolut has tapped accountancy giant EY to replace BDO as its auditor as the firm pushes to secure its UK banking licence. The UK fintech juggernaut said EY will act as the firm’s auditor for the financial year ending December 2026 after a formal bidding process. This comes as Revolut expects to launch as a [...]
House builder blames ‘broken planning system’ and interest rates for loss August 7, 2025 In independent house builder has blamed the “broken planning system” and high interest rates putting off first time buyers for it falling into the red. Cheshire-based Eccleston Homes has reported a pre-tax loss of £1.2m for the 12 months to 31 October, 2024, down from the £2m profit it achieved in the prior year. New [...]
House prices rise ahead of key Bank of England rate decision August 7, 2025 House prices rose at their fastest pace since the start of the year in July, as buyers shake off concerns about higher property taxes and push ahead with purchases. Prices rose 0.4 per cent in June, according to the latest index from Halifax, with the average property price now £298,237 compared to £297,157 last month. [...]
LIVE: Bank of England cuts interest rates to four per cent August 7, 2025 The Bank of England has slashed interest rates to the lowest level in more than two years at four per cent. The decision to cut rates from 4.25 per cent comes after members were told to vote for a second time after facing a split decision. It follows the Bank’s chief economist, Huw Pill, telling [...]