After the economy grew again, will Bank of England’s rate hikes tip the UK into recession? August 11, 2023 The UK economy grew faster than expected in June, expanded 0.5 per cent, helping to bring growth in the second quarter to 0.2 per cent – but analysts are divided about what the figures say for the coming months. Growth in June was given a boost by a strong performance from the production sector, which [...]
Bitcoin anchored in calm waters, but crypto’s fickle waves always loom on the horizon August 11, 2023 Bitcoin maintained its course of flat, sideways movement this morning, tacking between $29,300 and $29,000 as it has for much of the week.
UK economy shrugs off recession risk after growing faster than expected August 11, 2023 The UK grew faster than expected in the second quarter of the year as the economy proved itself more resilient to rising rates than many had expected, helping to reduce the risk of recession. Across the second quarter, the economy grew 0.2 per cent following a 0.1 per cent expansion in the first quarter, the [...]
Profit not process: How our banks grew too bureaucratic for their own good August 11, 2023 Judgement is being impaired by bureaucratic process, write two of the City's foremost lawyers
The key to reducing our emissions is in our buildings, not meatless burgers August 11, 2023 No matter how many meatless burgers we eat, it won’t save us from climate change unless we deal with the emissions hiding in our buildings.
Explainer: Mark Rowley vs the government on sacking abusive Met officers August 10, 2023 The Met police is under the spotlight again, but this time, it’s because its chief Sir Mark Rowley has openly accused the government of standing in the way of getting rid of abusive officers within the force. Rowley, who became the Met commissioner last September, has made it his mission to clear up the force. [...]
Savills’ share price tumbles as estate agent warns over health of housing market August 10, 2023 Savills’ share price has plummeted after the estate agent blamed “obvious challenges” in the housing market for slumping revenues in the first half of the year. As rising mortgage rates knocked buyer confidence, the real estate advisor said group profit before tax fell to a weak £6.0m in the first six months of the year [...]
Yorkshire Post owner signals interest in buying Daily Telegraph newspaper August 10, 2023 The owner of the Scotsman and the Yorkshire Post has indicated it could be interested in buying the Daily Telegraph and Sunday Telegraph if the papers are put up for sale later this year. National World said it “will consider participating in a sale process” if owners Lloyds decide to sell Telegraph Media Group. Lloyds [...]
FTSE 100 close: London markets close in the green after US inflation print August 10, 2023 London’s markets ended higher as investors were boosted by data which suggested the US had got a firm grip on its inflation problem. The FTSE 100 index ended 0.4 per cent higher up to 7,616.38 while the mid-cap FTSE 250 index climbed 0.3 per cent to 18,986.76. Although US inflation increased slightly for the first [...]
Persimmon slashes number of homes built as rate rise rattles business August 10, 2023 Persimmon has cut the number of homes it’s building by more than a third as the housebuilder faces up to rapidly rising mortgage rates and a slowdown in consumer confidence. The construction company built a total of 4,249 homes in the first half of the year down from 6,652 homes compared to the same period [...]