UK election

On 22nd May 2024, UK Prime Minister Rishi Sunak announced a snap general election for 4th July 2024 This decision caught many by surprise, as the election was called more than around six months earlier than legally required. Election Date: 4th July 2024 – let the fireworks begin The Conservative Party, led by Rishi Sunak, isRead More →

AI Kill Switch!

Leading technology companies, such as Microsoft, Amazon, and OpenAI, have united under a significant international accord for artificial intelligence (AI) safety measures, established at the Seoul AI Safety Summit on Tuesday 21st May 2024. Following the agreement, firms from various nations, including the UK, China, Canada, the U.S., France, SouthRead More →

UK recession is over... already!

The U.K. economy has recovered from its ‘technical’ recession, with the gross domestic product (GDP) increasing by 0.6% in the first quarter, surpassing expectations. Official figures released on Friday revealed this growth, which exceeded the 0.4% predicted by economists surveyed by Reuters for the previous quarter. In the latter halfRead More →

Slow growth in UK

Forecasts indicate that the UK economy will experience sluggish growth among the largest developed nations in 2025. The Organisation for Economic Co-operation and Development (OECD) has projected a 1% increase in the UK’s gross domestic product (GDP) for 2025, which lags behind the growth rates of other G7 nations, includingRead More →

Oil

The International Monetary Fund calculates that Russia’s economy will expand more rapidly than all advanced economies this year. According to the latest World Economic Outlook released by the IMF, Russia’s economy is projected to expand by 3.2% in 2024. This growth outpaces the anticipated growth rates for the U.S. atRead More →

Bank of England forecasts

The Bank of England (BoE) stands as a bastion of economic stability, guiding the United Kingdom through the ebbs and flows of financial tides.  Modernising the Bank of England’s forecasting system has become a critical necessity. A recent independent review has cast a spotlight on the ‘serious deficiencies’ within itsRead More →

UK jobs

The latest figures on UK pay growth and unemployment present a complex picture of the country’s labour market. The unemployment rate has seen a slight uptick to 4.2%, a rise from the previous 3.9%. This increase, which is more than anticipated, suggests a softening in the labour market. Conversely, wage growthRead More →

UK inflation

In February 2024, inflation decreased to 3.4%, a decline from January’s 4%, moving closer to the Bank of England’s self-imposed target of 2% This reduction signifies that the cost of living is increasing at its least rapid rate since September 2021, when it was recorded at 3.1%. Since reaching aRead More →

Not working

More than a fifth of working-age adults in the UK are currently not actively seeking employment, according to recent figures. The economic inactivity rate during the period from November 2023 to January 2024 stood at 21.8%, a slight increase compared to the previous year. This means that approximately 9.2 million people aged between 16 and 64 are neither employed nor activelyRead More →

British ISA

The new UK British ISA  UK chancellor Jeremy Hunt revealed the British ISA as part of the Spring Budget 2024. The British ISA aims to boost demand for UK businesses and encourage investment in UK-focused assets. Key Features Additional Allowance The British ISA provides a separate £5,000 annual allowance in addition to the existingRead More →

Iconic BT Tower

British telecoms group BT said Wednesday 21st February 2024 that it had agreed to sell London’s iconic BT Tower – once an important piece of network infrastructure It has been sold to developer MCR Hotels for £275 million ($346.6 million). The 189-meter structure has loomed over the capital city’s central Fitzrovia sinceRead More →

Fake AI news

Most of the world’s largest tech companies, including Microsoft, Amazon and Google have agreed to tackle what they are calling deceptive artificial intelligence (AI) in elections The tech accord The twenty companies have signed an accord committing them to fighting voter-deceiving content. They say they will deploy technology to detectRead More →

UK inflation statistics

The UK’s inflation rate remained at 4% in January 2024, despite the first monthly fall in food prices in two years, ONS figures show. January U.K. inflation held steady at 4% year-on-year benefitting from easing prices for furniture and household goods, food and non-alcoholic beverages. According to the latest figuresRead More →