Electric dreams: Volt founder on the rise and rise of the electric bike August 5, 2022 Between the oven-like temperatures on the tube, the promise of rail strikes stretching into infinity and the ever-present threat of another airborne pandemic, things are looking up for the e-bike industry. Last year saw a record 22m e-bike sales according to the Confederation of the European Bicycle Industry, a 10 per cent increase on the [...]
The Week in Review August 5, 2022 Bitcoin has been bouncing around a little over the last week, but always within its well established range around $22,000.
Andrew Bailey hits back at Suella Braverman saying Bank of England did not raise rates too late August 5, 2022 The Governor of the Bank of England, Andrew Bailey, has defended not raising interest rates earlier. His comments come after Attorney General Suella Braverman said interest rates “should have been raised a long time ago and the Bank of England has been too slow in this regard”. Bailey told BBC Radio 4’s Today programme: “If [...]
Average UK house price falls for first time in a year to sit at £293,221 August 5, 2022 House prices marked their first decrease since June last year, dropping slightly last month to stand at an average price of £293,221. Prices fell by a marginal 0.1 per cent in July, according to Friday’s Halifax House Price Index. The annual rate of growth eased to +11.8 per cent (from +12.5 per cent), with Wales [...]
Tough markets offset growth in Hargreaves Lansdown’s business August 5, 2022 Hargreaves Lansdown today said “difficult” market conditions in the first half of 2022 have halted its growth trajectory in causing the value of the assets administers to drop 9 per cent to £123.8bn. The Bristol headquartered company said major downturns in the FTSE, Nasdaq, and S&P 500 offset £5.5bn worth of new business in [...]
Don’t blame shops for prices if leaders can’t stop inflation August 5, 2022 Inflation is soaring and the UK’s food and drink manufacturers are under incredible pressure. No one can remember such sustained, relentless price rises across all our inputs – everything, from energy and ingredients to transport and wages, is more expensive. With food price inflation now at 9.8 per cent, everyone is asking: how much further [...]
Letters: Ripple through the economy August 5, 2022 [Re: Brits face jump in interest payments of £1.67bn, yesterday] A rate rise will have ripple effects for the wider economy, with commodities prices falling sharply as demand dips. As the global economy slows down and central banks execute tighter monetary policy in conjunction with a gloomy picture emerging from China – the biggest commodity [...]
Analysis: Historic day in the Bank of England’s 25 years of independence August 4, 2022 Today was one for the history books. The biggest jump in interest rates since the Bank of England was made independent 25 years ago. A looming recession similar in length to the financial crisis. The first time the Bank has raised rates while forecasting a protracted slump in recent memory. It is a lot to [...]
Brace for another financial crisis style recession, Bank of England warns August 4, 2022 The UK is set to slump into a recession comparable to the financial crisis, driven by the biggest inflation surge in 42 years, the Bank of England warned today. Britain’s economy will shift into reverse in the final three months of this year and stay there until the final months of next year, placing it [...]
Dealmakers circle British firms as UK tops inward investment August 4, 2022 International dealmakers have set their sights on British firms this year with the UK now the top target in Europe for inbound and domestic investment, research today reveals.