Bank of England shirks historic rate hike despite warning of longer inflation September 22, 2022 The Bank of England today shirked the biggest interest rate hike since the late 1980s despite inflation threatening to run hot for months. Borrowing costs climbed 50 basis points to 2.25 per cent, their highest since November 2008 and the seventh rise in a row, the Bank announced. Before the decision, City economists and markets [...]
Failure to cut energy demand risks ‘reckless’ waste of taxpayer money September 22, 2022 Capping energy prices without boosting insulation would risk a “reckless” use of taxpayers’ money, warned the Social Market Foundation.
Are you ready for multidimensional metaverses? September 22, 2022 Dr Chris Kacher explains how recession and on-risk assets are heading towards multidimensional metaverses.
Lidl now highest-paying supermarket in UK with £39.5m investment in staff salaries September 22, 2022 Discount giant Lidl has committed £39.5 in salary increases to its store and warehouse staff, becoming the highest-paying supermarket in Britain. The retailer is increasing hourly rates from £10.10 to £10.90 outside the capital, and within London, hourly wages will go up to £11.30 and £11.95 inside the M25. , Some workers are set to [...]
Ethereum’s post-merge slide continues to cause concern September 22, 2022 The price of Ethereum continues to slip this morning, falling another 3.77 per cent over the past 24 hours to $1,278.
Sadiq Khan: Income tax cuts to ‘disproportionately benefit’ wealthiest September 22, 2022 The Chancellor’s proposed cuts to income tax will “disproportionately benefit” society’s wealthiest, according to an analysis by the Greater London Authority (GLA). Figures showed that, by introducing a 1p cut, those on a £150,000 per year salary would have a tax relief of £1,950 while those earning the least would not see any benefit. “Tomorrow’s [...]
UK music biz struggles to keep up with pre-pandemic economic boom September 22, 2022 The UK music industry is still struggling to keep up with pre-pandemic levels, as the sector calls for more support. According to fresh data from industry body UK Music, the sector’s contribution to the UK economy in 2021 was £4bn – up 26 per cent on the £3.1bn figure for 2020, but still down 31 per [...]
Let’s be honest, stamp duty is a terrible tax killing economic growth and productivity September 22, 2022 Tomorrow’s mini-budget is turning into a super-budget. The changes were already looking drastic, from the energy price freeze and scrapping the bankers’ bonus to reversing the national insurance and corporate tax rises. The latest reports suggest the prime minister and her chancellor are even intending to cut stamp duty. “This is about growing the size [...]
London’s FTSE 100 bumps higher after government halves firms’ energy bills September 21, 2022 London’s FTSE 100 bumped higher today as investors digest the details of the government’s energy support package for UK businesses. The capital’s premier index climbed 0.63 per cent to 7,237.64 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 1.01 per cent to 18,714.67 [...]
Oxford Street candy stores to face tougher rules amid claims of ‘dirty money’ and tax evasion September 21, 2022 Westminster Council will come down hard on its so-called ‘dirty money’ problem, zeroing in on US-style candy stores in Oxford Street. A motion will be passed this evening as 30 confectionary shops are under investigation for business rates evasion totalling £3m. The council leader said the war in Ukraine highlighted Russian oligarch investment in Westminster, [...]