UK economy shows early signs of recovery after ‘Awful April’ May 22, 2025 The UK economy looks set to recover from a torrid month for businesses in which higher energy costs and employment tax rises kicked into effect, fresh data has suggested. S&P Global’s latest flash purchasing managers’ index (PMI) showed that the UK’s services sector has seen moderate growth in output in May while contractions in manufacturing [...]
Reeves’ impossible mission to save the public finances – in four charts May 22, 2025 Government borrowing spiked in April, according to official data, in a stark illustration of the difficult fiscal tightrope that the Chancellor Reeves is walking. The £20.2bn in monthly borrowing was steeper than economists’ prediction of £18bn. So, Reeves might have shivered when she heard Keir Starmer tell the House of Commons winter fuel payments would [...]
Tate & Lyle lifts profits as CP Kelco deal kicks in May 22, 2025 Tate & Lyle has posted a rise in profits and free cash flow for the year to 31 March 2025, as the FTSE 250 firm integrates its $1.8bn acquisition of ingredients maker CP Kelco and declares its long-running transformation “complete”. The sweetener producer reported a four per cent increase in earnings before interest, tax, depreciation [...]
Investec rakes in £1bn profit after lending and deposit boost May 22, 2025 Investec’s profit soared to more than £1bn in its latest financial year after increased lending and deposits bolstered its revenue. The FTSE 250 bank recorded a 7.8 per cent annual jump in operating profit to just over £1bn for the year to 31 March, 2025. This beat the bank’s own upgraded forecast in March, where [...]
London defies ‘Awful April’ slump with more job postings May 22, 2025 London was one of two regions across the UK to have seen a rise in job postings, with fresh data suggesting businesses in the capital city defied the double whammy of tax hikes and President Trump’s tariff threats. Europe’s richest city has continued to buck the trend of low confidence felt across the country as [...]
UK government borrowing blows past estimates on Labour’s spending plans May 22, 2025 Government borrowing spiked in April, official data has shown, reflecting Rachel Reeves’s difficulties in controlling public finances. The rise to £20.2bn in monthly borrowing was more than economists’ prediction of £18bn. Capital Economics suggested that the rise in borrowing costs since March via debt interest payments has slashed Reeves’ headroom down to £5.7bn. Tax receipts [...]
Mark Kleinman: Reeves’ City IPO push still lacks momentum May 22, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column Reeves’ City IPO push still lacks momentum It’s the City’s most oft-recurring question: how do you reverse the alarming decline in London’s attractiveness as a destination for IPOs? The bald statistics legitimise the urgency of the [...]
The UK is a financial world leader, so why are our numeracy levels so poor? May 21, 2025 Poor numeracy skills have real financial consequences. If the City is to remain a financial powerhouse, we must address the nation’s deteriorating maths, writes Andy Haldane on National Numeracy Day Financial services is a numbers game. Success in finance requires mastery of a wide range of skills, professional and interpersonal. But without a command of [...]
Cyber and AI fuel surge in UK tech M&A deals May 21, 2025 The UK’s software M&A market has hit a record high, with £13.2bn deployed across 420 deals over the past year, marking a 27 per cent year on year rise and revealing the nation’s pivotal role in Europe’s tech investment scene. A recent survey from BearingPoint Capital found that despite escalating macroeconomic headwinds and growing valuation [...]
Reeves’ taxes push inflation to 3.5 per cent in ‘Awful April’ May 21, 2025 Inflation bounced back up to 3.5 per cent in April, official data has revealed, underlining the cost burden firms are taking on after Chancellor Reeves’ tax hikes on employers and rise to the national living wage came into effect. Consumer price inflation rose by 1.2 per cent on a month-on-month basis, higher than the last [...]