UK inflation rate jumps to 1.8 per cent in January February 19, 2020 UK inflation rose to a six-month high of 1.8 per cent in January, a significant increase from December’s rate of 1.3 per cent, according to official data released today. The rate remains below the Bank of England’s (BoE) target of two per cent. The bump comes as a surprise to analysts, who had forecast the [...]
Free speech risks being sacrificed on the altar of offence culture February 19, 2020 Harry Miller never considered that he might be national news-worthy. A former police officer turned businessman, during late 2018 he posted a series of tweets which questioned the biological sex of transgender individuals. One of his musings stated “I was assigned mammal at birth, but my orientation is fish. Don’t mis-species me.” What should have [...]
Pound rallies as UK employment hits record high and wages beat 2008 peak February 18, 2020 Wages beat their pre-financial crisis peak for the first time at the end of 2019, as the level of UK employment rose to a record high of 32.9m people. A total of 180,000 people entered the workforce between October and December 2019, the Office for National Statistics (ONS) said today. That took the number of [...]
HSBC: Profit plunges as bank plans 35,000 job cuts February 18, 2020 HSBC has outlined plans to offload $100bn (£77bn) of assets and dramatically downsize its investment banking arm in a restructure that will cost 35,000 jobs over the next three years. Profit before tax tumbled by a third to $13.6bn in 2019, HSBC said as it revealed its most radical overhaul since the financial crisis in [...]
Glencore braced for coronavirus impact as earnings fall February 18, 2020 Glencore saw earnings drop 26 per cent to $11.6bn (£9bn) last year as the commodities giant warned that it was “closely watching” the coronavirus outbreak’s impact on global markets. Shares in the blue-chip stock fell 0.8 per cent as markets opened. The figures Although earnings declined to $11.6bn from $15.8bn in 2018, Glencore still beat [...]
Ousting Sajid Javid could limit Boris Johnson’s options February 18, 2020 Any time a Prime Minister reshuffles his or her cabinet, there are bound to be disappointed ministers — or ex-ministers — turfed out from a job they enjoy in a system that can sometimes prize loyalty over ability. But last week’s surprise resignation of Sajid Javid, the UK’s short-lived chancellor, could actually limit Boris Johnson’s [...]
DEBATE: Does it make sense to run the Treasury out of Number 10? February 17, 2020 Does it make sense to run the Treasury out of Number 10? Will Tanner, director of Onward, says YES. Boris Johnson is not the first resident of Number 10 to want a closer hold on Number 11. Pitt the Younger, Peel, Disraeli, Gladstone and Baldwin all served as chancellor and Prime Minister concurrently. The two [...]
Question marks surround Boris Johnson’s first budget February 16, 2020 The timing and content of the forthcoming budget was thrown into doubt this weekend, with the government refusing to confirm either the date of the announcement or that the current spending limits would remain in place. Boris Johnson is considering scrapping fiscal spending rules written just months ago as Number 10’s plans to take greater [...]
Rory Stewart wants to set up City of London embassies across EU February 16, 2020 City of London embassies will be set up across EU capital if Rory Stewart is elected mayor of London. The ex-international development secretary is running as an independent mayoral candidate in the May election, after having the Conservative whip removed last year over his opposition to a no-deal Brexit. Stewart believes as mayor of London [...]
When is the UK Budget 2020? February 14, 2020 The UK Budget 2020 is due next month but after the shock resignation of Sajid Javid this week the government may be forced to delay the date. The official date for the Budget 2020 is 11 March but the government so far has not confirmed it will go ahead after the reshuffle which saw Rishi [...]