Borrowers ‘needn’t panic just yet’ after interest rates hike February 3, 2022 Real estate experts have said a rise in interest rates is “unlikely to dampen motivation to move” despite warnings that the news signals higher mortgage costs down the line. The Bank of England has hiked rates at successive meetings for the first time since 2004, with a majority of the Bank’s rate setters voting to [...]
Biden: US has taken ISIS leader “off the battlefield” in special forces operation February 3, 2022 US President Joe Biden has said American military forces have “taken off the battlefield” the leader of ISIS. Abu Ibrahim-al Hashimi al-Qurayshi was targeted in an operation in northwest Syria. “All Americans have returned safely from the operation. I will deliver remarks to the American people later this morning. May God protect our troops,” the [...]
Sunak unveils £9bn package to slash £350 off energy bills this year February 3, 2022 The “vast majority” of households will get government help on their energy bills to the tune of £350 to partially offset soaring prices as a part of a £9bn package announced by Rishi Sunak today. The announcement comes as Ofgem today announced an increase in the energy price cap from April, which will mean the [...]
Brits brace for worst cost of living squeeze since 1990 February 3, 2022 Brits are set for the worst cost of living squeeze in recent history in just a few months’ time, reveals fresh forecasts released by the Bank of England today. A combination of swelling energy bills and soaring food prices will erode real incomes at the fastest pace since in over 30 years. Rampant price rises [...]
Bank of England hikes rates at successive meetings for first time since 2004 February 3, 2022 The Bank of England today flexed its inflation fighting muscles and hiked interest rates at successive meetings for the first time since 2004. A majority of the Bank’s committee of rate setters voted to lift rates 25 basis points to 0.5 per cent. The consecutive rate hikes mark a sharp policy shift from Threadneedle Street [...]
Private equity market soars as dealmakers shrug off uncertainty February 3, 2022 Private equity dealmaking in the UK soared to record levels last year as dealmakers shrugged off pandemic and Brexit uncertainty, new data has revealed today.
PMI: Recovery of UK services sector regaining momentum February 3, 2022 The recovery of the UK services sector regained momentum last month, according to new figures. The closely watched IHS Markit/CIPS UK Services PMI survey scored 54.1 in January, bouncing back from a 10-month low of 53.6 in December. Any score above 50 shows growth in the sector. The latest data showed that activity in the [...]
FTSE-100 flat as investors await BoE rate decision February 3, 2022 London's premier index has opened flat today as investors await the Bank of England's decision on a rate hike.
Exclusive: Bank of England to launch quickest tightening cycle since 2004 February 3, 2022 The Bank of England will this year embark on the fastest rate hike cycle since 2004 in a bid to tame rampant inflation in the UK, starting at its meeting of rate setters today, reveals an exclusive City A.M. poll of top City economists. The first back-to-back rate hike in 18 years is a foregone [...]
Pret coffee subscription service to increase £5 amid rising costs February 2, 2022 Sandwich chain Pret A Manger is hiking the price of its coffee subscription service 25 per cent amid soaring ingredient and labour costs. Pret said the monthly cost – which covers five barista-made drinks a day – would increase from £20 to £25 from tomorrow. This will apply to new subscribers straight away while those [...]