Inflation spike ‘raises questions’ over health of UK economy December 18, 2024 The spike in inflation to 2.6 per cent today has raised questions about the health of the UK economy, according to analysts. The news comes ahead of the Bank of England’s meeting to decide the path of interest rates tomorrow, with markets agreeing that combined with higher-than-expected wage growth yesterday, a cut is off the [...]
Shoe Zone: Firm slams Budget tax hikes as it’s forced to close ‘unviable’ stores December 18, 2024 Shoe Zone has said it has been forced to close “a number” of stores following higher costs announced in the Autumn budget. The affordable footwear company said a combination of lower consumer confidence following the budget, plus “significant additional costs” due to the increases in National Insurance and the National Living Wage, have made the stores [...]
UK inflation spikes ahead of Bank of England rates decision December 18, 2024 UK inflation spiked to 2.6 per cent ahead of the Bank of England’s meeting to decide interest rates later this week. Year-on-year inflation matched expectations of 2.6 per cent in November, up from 2.3 per cent in October, data from the Office for National Statistics revealed. Meanwhile, core inflation, which strips out volatile commodities like [...]
The intersection between the capital markets and the insurance industry December 17, 2024 Insurance is part of the DNA of global capitalism, but due to concerns around complexity and liquidity, the market has historically struggled to attract the capital needed for growth. Aon’s Capital Advisory division works with insurance clients to enhance return on capital by matching risk with capital to make better business decisions. It’s been built [...]
Budget sparks 13 per cent jump in business insolvencies December 17, 2024 The number of business insolvencies in England and Wales rose 13 per cent in November, as the impact of the Budget continues to hit firms hard. Experts have also warned that things are not going to get better, with April’s looming Employers’ National Insurance increase leaving firms in a “perilous position”. Nearly 2,000 firms went [...]
London law firm DAC Beachcroft to launch in US December 17, 2024 DAC Beachcroft is set to launch into the US with offices planned in New York and Los Angeles, as the push for English firms to go stateside continues
Retail jobs slashed as high costs lead to automation and outsourcing December 17, 2024 The number of jobs offered by the UK’s largest private sector employer – retail – has dropped again, as companies shift to outsourcing and automation in an effort to deal with higher costs. This trend has been ongoing for some time, and is responsible for both job loss and a lack of job creation as [...]
UK wages continue to surge as Bank of England set to decide on interest rates December 17, 2024 UK unemployment remained steady over the last three months as wage growth surged over the quarter to October. Unemployment was unchanged at 4.3 per cent for the second straight month during October, data from the Office for National Statistics revealed. The number of people claiming jobless benefits climbed by just 300 in November, beating the [...]
Reeves’ pension review pause could be ‘hugely detrimental’ December 16, 2024 Experts have slammed the chancellor’s decision to pause a review into pensions, saying failure to act could “leave millions of people at greater risk of an income shortfall”. Rachel Reeves has reportedly shelved plans to reform pension adequacy in a bid to avoid piling more pressure on business. The Financial Times first reported that it [...]
Car insurers set to return to profit following record losses December 16, 2024 A report from accountancy giant EY estimates car insurers paid out 93p in claims and expenses for every £1 made in premiums in 2024.