Chelsea respond to supporters’ warning with season ticket price decision May 11, 2023 Chelsea have bucked the Premier League trend and announced a freeze on their cheapest general admission season ticket prices for next season. The majority of teams in English football’s top division, including Manchester United, Arsenal, Liverpool and Manchester City, have hiked their prices for the 2023-24 campaign. But Chelsea chiefs have decided to maintain their [...]
Hospitality: BoE interest rates hike could ‘significantly impact businesses’ May 11, 2023 The hospitality sector has expressed concerns that the Bank of England’s decision to raise interest rates could “significantly impact business viability,” as the interest rates on loans many pubs and restaurants took out to survive the pandemic are now set to rise. “Hospitality was the business sector most affected by the pandemic, with a large [...]
Bank of England governor Andrew Bailey rebuffs Huw Pill’s ‘accept you’re worse off’ comment May 11, 2023 The Governor of the Bank of England has suggested that the Bank’s most senior economist chose the wrong words when saying that people and businesses should accept they are poorer now because of inflation. Andrew Bailey said that there had been a hit to national income, and did not appear to criticise the substance of [...]
Bank of England hikes interest rates for twelfth time in a row and warns of ‘significant’ inflation risk May 11, 2023 The Bank of England today hiked interest for the twelfth time in a row and to their highest level since October 2008, but warned inflation will stay higher for longer than it previously thought. The monetary policy committee (MPC) – the nine-member group tasked with setting interest rates in the UK – voted 7-2 in [...]
Mortgages: How the BoE’s twelfth consecutive rate rise will affect homeowners May 11, 2023 Homeowners on tracker mortgages could see their annual bills increase by £5,008 a year following the Bank of England’s twelfth consecutive rate rise on Thursday, though analysts have said the latest rise will not have a substantial impact on the housing market. The monetary policy committee (MPC) voted 7-2 in favour of raising borrowing costs [...]
Bank of England ditches any threat of recession in biggest GDP upgrade since 1997 independence May 11, 2023 Any threat of a recession in Britain this year and over the medium term has today been scrapped by the Bank of England in what was the largest upgrade to the central bank’s GDP projections since it was made independent in 1997. The UK economy is now tipped to broadly flatline this year and start [...]
Crypto investors feeling the ups and downs as inflation figures set the tone May 11, 2023 The price of Bitcoin is settling around $27.4K this morning, in the red by a marginal 0.62%. Ethereum at $1.822 is down by 1.5%.
Nissan sees profit rise but anticipates continuation of ‘harsh’ business environment May 11, 2023 Nissan said that it expects 38 per cent rise in operating profits this year, as it continues a strong resurgence from the lows of the global semiconductor shortage and China shutdown. The Japanese automaker beat analysts expectations, raising profit expectations for the coming year to 520bn yen (£3.07bn) on the back of a stronger sales [...]
FTSE 100 Live: London markets fall following Bank of England’s interest rate decision May 11, 2023 London’s FTSE 100 index fell this afternoon following the Bank of England’s latest interest rate decision, when the Bank’s base rate was lifted by 25 basis points. The capital’s premier index fell 0.64 per cent to 7,691.42 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
UK needs a strategy to develop home-grown battery industry before it’s too late, tech boss warns May 11, 2023 The UK government must continue to support the creation of a British battery industry, a senior tech boss has warned.