Barratt Developments share price in focus following Bank of England rate rise July 10, 2023 The market will turn its focus to Barratt Developments’ trading update next Thursday to see how soaring mortgage rates and a tumultuous period for the property sector is impacting UK house building companies. The housebuilder’s shares have fallen by around a tenth over the past 12 months and more than half from their pre-pandemic levels, [...]
Families unfairly penalised by UK tax system, CPS report warns July 10, 2023 The UK tax system must be reformed so that families are no longer unfairly penalised, a think tank has warned. Couples with two children and a single earner of £60,000 will pay over £7,000 more tax than if both parents earned £30,000 each, Centre for Policy Studies (CPS) researchers found. Research found single-earner married couples [...]
Jeremy Hunt unveils plans to boost pension funds’ investment July 10, 2023 Jeremy Hunt is set to announce hotly-anticipated plans to supercharge pension funds to invest in high-growth sectors and boost British businesses. The Chancellor will spell out his plans today to encourage schemes to invest cash in infrastructure, startups and green tech – in a bid to rocket power the UK’s growth while avoiding adding to [...]
Wage growth has ‘passed its peak’ as Andrew Bailey prepares to address City on interest rates July 10, 2023 Workers returning to the jobs markets and boosting the volume of candidates available to businesses are poised to put a lid on wage growth, analysts are predicting official numbers this week will show. Pay growth is said to have “passed its peak” after raging for more than a year, fuelled by staff demanding wage increases [...]
London economy steams ahead of every other UK region but interest rate hikes contain growth July 10, 2023 London’s economy is steaming ahead of every other region in the UK, but there are signs higher interest rates and a return of recession jitters is holding the capital back, a new survey out today shows. Economic growth in London in June was far above the UK average and even its closest competitor, the south [...]
Utilities sector hits rock bottom as customer satisfaction plummets July 10, 2023 Poor handling of complaints has powered a record plunge in customer satisfaction across all sectors of the UK economy.
Accelerating redundancies ‘big concern’ for UK economy as firms sweat over recession July 10, 2023 Accelerating redundancies sparked by businesses sweating over whether the UK economy is on course for a recession are a “big concern” for the country, experts have warned today. Company layoffs have pushed the volume of unemployed workers available for jobs to its highest level since December 2020, when the UK was in the teeth of [...]
Oil sorted? OPEC gambles on demand revival to boost flagging prices July 10, 2023 OPEC and its allies are banking on demand to rebound and prop up oil prices. If they're wrong, it's time to reassess their influence.
Iceland looks set to reveal red hot profit amidst supermarket surveillance July 10, 2023 Iceland has revealed forecasts that would mean the frozen food chain makes its highest profit in a decade this year, according to The Times. Iceland said last week in a set of financial results shared with bondholders that this year’s underlying profit will likely be its strongest in ten years. The news comes as supermarkets [...]
Labour mortgage summit amid brewing repayments crisis July 9, 2023 Labour are set to hold crunch talks with mortgage brokers this week amid a brewing repayments crisis. Shadow chancellor Rachel Reeves has pledged homeownership will be the core of her ‘securenomics’ philosophy as she claimed Labour is now the party of house buyers. Reeves and shadow levelling up secretary Lisa Nandy will attend the summit [...]