UK law firms see billable hours fall as sector struggles with inflation October 16, 2023 The UK’s biggest law firms are concerned by a fall in billable hours this year as they struggle to cover cost pressures from inflation through pricing, according to a survey obtained by the Financial Times. PwC’s annual law firm survey, which City A.M. understands will be published on Tuesday, reportedly notes a slowdown in mergers [...]
FTSE 100 close: London markets lifted by higher oil and gas prices October 16, 2023 Geopolitical uncertainty has impacted markets over the past week.
Bank of England’s Huw Pill: Interest rates must remain high to tackle ‘persistent’ inflation October 16, 2023 Markets doubt whether a further rate hike will be necessary, but Pill reiterated that the Bank "still has some work to do in order to get back to two per cent".
Trump wants to give evidence in London court over ‘Steele dossier’ October 16, 2023 Donald Trump wants to give evidence in a London court to attempt to prove claims Russia supported his 2016 election campaign are false, the former US president’s lawyers said on Monday as he tried to continue his case against a British private investigations firm. Trump, front-runner for the 2024 Republican presidential nomination, is suing Orbis [...]
D&D: Bluebird Chelsea owner gets £40m boost from new investors October 16, 2023 The business behind such popular London haunts as Bluebird Chelsea and Coq d’Argent is set to be bought by investment firm Breal Capital and Byron Burgers chain owner Calveton, as it looks to raise funds following a challenging period for the hospitality sector. D&D London, which started out as Sir Terence Conran’s Conran Restaurants, said [...]
Hoberman-led Tech Nation pledges £10bn funding bonanza for start-ups October 16, 2023 The start-up group freshly revived by Brent Hoberman has pledged to facilitate a £10bn investment bonanza for UK tech today as it restarts operations. The group wound down earlier this year after ministers pulled its funding.
ITM Power to enter US market in blow to UK’s green hydrogen ambitions October 16, 2023 ITM Power has announced plans to enter the US market, enticed by the vast subsidies offered under the country's Inflation Reduction Act.
UK to avoid recession despite Bank of England interest rate rises, EY predicts October 16, 2023 The UK will avoid a recession despite the impact of the Bank of England's interest rate hikes, new forecasts from the EY Item Club say.
Liz Truss allies set to publish ‘growth budget’ days ahead of autumn statement October 15, 2023 Liz Truss allies are set to publish their so-called ‘growth budget’ just days ahead of Jeremy Hunt’s autumn statement. The former Prime Minister, who spent just 49 days in power, set up the Growth Commission after leaving Downing Street in a bid to challenge what she termed ‘Treasury orthodoxy’. Now the task force has announced [...]
Inflation to continue falling despite rising energy prices, experts predict October 15, 2023 Falling food prices are expected to help bring down the annual rate of inflation in September.