Bank of England MPC members: ‘Weak recession’ won’t change timing of interest rate cuts February 20, 2024 Andrew Bailey, governor of the Bank, came under fire from MPs for having failed to cut interest rates even as inflation approaches target and the UK struggles with very weak growth.
Scottish affordable house builder Springfield Properties latest to feel the pain of property slowdown February 20, 2024 A Scottish house building company is one of the latest to be financially bruised by last year’s slowdown in property sales.
Plus500 plotting deals spree as it readies £138m payout to shareholders February 20, 2024 Retail trading platform Plus500 topped market expectations and announced plans to put $175m back in shareholders pockets today despite a squeeze on revenues and profits over the past year.
Barclays plans to return £10bn to shareholders and cut £2bn in costs by 2026 February 20, 2024 Barclays has unveiled a drop in annual profits as the bank undergoes a sweeping restructuring designed to save £2bn in costs and return £10bn to shareholders by 2026.
Regulator launches investigation into baby formula market February 20, 2024 The CMA investigation, which was launched today, came off the back of a November study which found manufacturers raised prices by 25 per cent over two years, increasing profit margins during the cost-of-living crisis.
Transitory? UK inflation can’t be explained away by Bank of England’s easy answers February 20, 2024 Last week new figures on the UK economy suggested that something unusual is happening - inflation and unemployment are falling at the same time.
Hunting for a legacy? These are the taxes Jeremy should tweak February 20, 2024 If the Chancellor is looking to secure his legacy ahead of the General Election, he should use next month’s Budget to fix the thresholds and cliff edges that are distorting the economy, argues Tim Sarson Budgets are almost as much about political theatre as they are about policy, especially in the run-up to a general [...]
China’s central bank slashes mortgage rates in high-stakes bid to revitalize property market February 20, 2024 China's central bank slashed the benchmark mortgage interest rate on Tuesday in a bid to jumpstart the country's sluggish property market and boost its struggling economy.
Superdry founder in talks with US private equity firm for rescue bid February 19, 2024 The founder of Superdry, Julian Dunkerton, is reportedly in talks with US investor Davidson Kempner to rescue the ailing fashion retailer.
Leaving interest rates on hold risks deepening recession, Haldane warns February 19, 2024 Leaving interest rates on hold for too long risks deepening the UK's recession, the Bank of England's former chief economist has said.