UK inflation will drop back to Bank of England two per cent target by end of this year, economists predict February 22, 2023 Inflation in the UK is on track to fall exactly back to the Bank of England’s target by the end of this year, according to forecasts by two top City of London economists. The rate of price increases will tumble to two per cent in the final three months of 2023, according to Pantheon Macroeconomics. [...]
Cost of living crisis forces Brits to abandon saving, with more than one in five taking on EXTRA debt February 22, 2023 The cost of living crisis is poised to force Brits to shun setting cash aside each month for a rainy day, official figures out today show. More than four in 10 of the population expect to save no money whatsoever over the next year, according to the Office for National Statistics (ONS). Inflation has raced [...]
Hundreds of jobs at risk as Chinese-owned British Steel set to announce closure of Scunthorpe plant February 22, 2023 Unions fear British Steel is set to announce the closure of coking ovens at one of its plants, with the loss of hundreds of jobs as the company warns it faces “significant challenges”. Union officials were told earlier this month the Chinese-owned company was considering closing coke ovens at its site in Scunthorpe. An announcement [...]
EU carbon hits €100 taking cost of polluting to record high February 21, 2023 The price of permits on the EU's carbon market hit €100 per tonne (£88.01) for the first time on Tuesday, exposing costs of polluting.
Jeremy Hunt faces calls for March budget giveaways after UK borrows £30bn less than forecast February 21, 2023 The UK government spent less than it reaped in from taxpayers last month helping to push yearly borrowing £30bn lower than projected by forecasters, officials figures out today reveal. The difference between what the government generated in revenue and spent hit a positive £5.4bn, meaning the UK’s public finances were in surplus last month, according [...]
Glimmers UK will avoid recession this year emerge as experts cheer return to growth in PMI February 21, 2023 Warnings that the UK is headed for a recession may have been misplaced after figures out today revealed private businesses returned to growth for the first time in half a year. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) composite flash purchasing managers’ index (PMI) for February hit 53 points, up from [...]
BHP profits dive £2.6bn as world’s largest miner falls victim to China’s pandemic restrictions February 21, 2023 BHP has suffered a heavy decline in profits, following pandemic restrictions in China and reduced demand for iron ore.
Nuclear industry defends Sizewell C project as Hinkley Point C is priced at £33bn February 20, 2023 Sizewell C will be a huge boost to the UK's energy ambitions, argued the leading nuclear industry body amid concerns over costs.
Energy providers demand government incentives to stop UK providers losing out on green projects February 20, 2023 The energy sector is ramping up pressure on the government to bolster the investment climate for green projects.
Audit reform plans ‘ready to go’ but government delays now holding UK back, accountancy chief warns February 20, 2023 The UK government’s failure to overhaul the country’s audit sector risks seeing Britain lose its position as a world-leading investment hub, the head of the Institute of Chartered Accountants in England & Wales has warned. ICAEW chief Michael Izza told City A.M. continued delays to the UK’s planned reshaping of the country’s audit sector could see foreign investors [...]