What do falling interest rates mean for my finances? February 14, 2025 The Bank of England trimmed interest rates to 4.5 percent in February, the first of what could be multiple cuts this year aimed at kickstarting the UK’s weak economic growth. This raises questions about what loosening monetary policy could mean for savers’ finances. The BoE now expects GDP growth “to be notably weaker in the near [...]
Rachel Reeves ‘investigated over expenses’ in HBOS banking job February 13, 2025 Rachel Reeves was investigated over her use of expenses while working in a banking job before becoming an MP. The Chancellor, alongside two colleagues, was subject to an internal probe into expenses claims, while she was a senior manager at Halifax Bank of Scotland (HBOS) in the late 2000s, the BBC has revealed. Reeves is [...]
‘Temporary share price glitch’ sends Barclays shares lower February 13, 2025 Shares in Barclays slumped on Thursday morning after the bank posted its annual results. The Big Four bank reported a £8.1bn pre-tax profit, up 24 per cent from 2024, surpassing analyst expectations of £8.07bn. However, its stock dropped five per cent, as low as 290.34p after the market opened. Still, despite the drop, Peel Hunt [...]
British American Tobacco shares drop in tough consumer environment February 13, 2025 British American Tobacco has maintained its outlook for profit and sales next year as it doubled down on a pledge to become a “smokeless business” by 2035. Shares, however, fell more than nine per cent in early trades. “Consumer companies are stuck in somewhat of a difficult environment just now,” Chris Beckett, head of equity [...]
Barclays beats expectations after Tesco Bank takeover February 13, 2025 Barclays surpassed analyst expectations in its annual results report on Thursday, after a strong year for its investment banking arm and day one benefits of its Tesco Bank takeover. The FTSE 100 bank reported a pretax profit of £1.7bn in the fourth quarter, ahead of the £1.62bn expected by analysts. For 2024 as a whole, the [...]
GDP grows 0.1 per cent as UK economy skirts recession February 13, 2025 Chancellor Rachel Reeves received a small boost after the economy unexpectedly grew at the end of last year, ensuring the UK does not face an imminent recession. Output expanded 0.1 per cent in the final three months of the year, according to the Office for National Statistics (ONS), after GDP rose 0.4 per cent in [...]
Rich people’s problems: Confidence in economy hits record low among wealthy Brits February 13, 2025 Confidence in the economy among high net worth Brits has tanked since the election of a Labour government last summer, according to data from the Saltus Wealth Index. The study, which questioned 2,000 people in the UK with assets of £250,000 or more, revealed just under half – 48 per cent – of these so-called [...]
How Sweden left socialism behind February 13, 2025 The myth of socialist Sweden persists but in fact it has left many of the policies of the 70s and 80s behind and become one of the most market-oriented societies in the world, says Rainer Zitelmann For decades, the production and sale of alcohol was heavily regulated by the state in Sweden. When it came [...]
BoE’s Greene backs ‘cautious’ interest rate cuts despite ‘uncomfortable’ growth performance February 12, 2025 A rate-setter at the Bank of England backed a “cautious” approach to cutting interest rates despite the “uncomfortable” recent performance of the economy. “The macroeconomic news over recent months has been uncomfortable,” Megan Greene, an external member of the Monetary Policy Committee (MPC) said. “GDP has roughly flatlined since Spring of last year and expectations [...]
Households will still feel the squeeze even if Budget boosts growth February 12, 2025 Poorer households will not see their living standards recover to pre-2022 levels for another two years despite an anticipated acceleration in economic growth, new forecasts suggest. The forecasts highlight the challenges in ensuring households across the country feel the benefit of any growth that the Labour government is able to stimulate. The National Institute for [...]