The UK FTSE 100 stock index has reached a new record closing price on Monday 22nd April 2024 The new all-time high was likely propelled by a weakening pound and reduced tensions in the Middle East. The FTSE 100 has been the laggard for many months. The index concluded MondayRead More →
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 →
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 →
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 →
One tenth of 1% is very little but we can at least hope the UK is on it’s on way out of recession Let’s blame the weather The economy grew by 0.1%, figures show, boosted by production and manufacturing in areas such as the car sector. The Office for NationalRead More →
The Office for National Statistics (ONS) has released updated UK GDP figures, confirming that the UK entered a technical recession in the last six months of the previous year. The new data shows the economy contracted by 0.1% in the three months from June to August 2023, with a furtherRead More →
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 →
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 →
Fact or Fiction? Oxford University, founded in the 12th century, stands as a beacon of scholarship and tradition. Its roots trace back to 1096 during William II’s reign. The university is approximately 230 years older than the Aztec Empire. Teaching would have likely existed in some form within its hallowed halls. ImagineRead More →
The economy grew by 0.2%, ONS figures show, boosted by sales in shops and online and from more construction activity. Hopefully this means the UK is on its way out of recession. The Office for National Statistics (ONS) said the services sector led the bounce back. This is an earlyRead More →
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 →
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 →
The U.K. logged a record £16.7 billion net budget surplus in January 2024, according to official figures released on Wednesday 21st February 2024 The Office for National Statistics noted that the country’s public finances usually run a surplus in January, unlike during other months, as receipts from annual self-assessment taxRead More →
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 →
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 →
UK interest rates have been left unchanged at 5.25% by the Bank of England as widely expected by commentators. It is the fourth time in a row the Bank has held rates at 5.25%. The Bank of England had previously raised rates 14 times in a row to curb inflation,Read More →
The election is coming soon, and to a town near you…Read More →
Spinning the benefits of a tax cut scenario as Chancellor Jeremy Hunt hints at further tax cuts The Chancellor, Jeremy Hunt, has given strong hints that he wants to cut taxes in the spring Budget. Mr Hunt reportedly said that countries with lower taxes have more ‘dynamic, faster growing economies.‘Read More →
Retail sales volumes fell by 3.2% in December in the sharpest drop since the UK was in a Covid lockdown says the ONS. Official figures revealed a sharp decline in demand for goods, but surprisingly food sales also declined in the run-up to Christmas. The Office for National Statistics (ONS)Read More →
Inflation, rose marginally to 4% in December, up from 3.9% in November 2023. Economists had forecast a slight fall but unexpected rises in alcohol and tobacco prices were behind the surprise rise. However, with energy bills predicted to come down in 2024, there are still expectations of interest rate cutsRead More →
The bumper festive period led to the High Street giant to raise its profit forecast by 5% to £960m for 2024. NEXT has about 460 outlets in the UK and Ireland. The company also expects sales to grow by 3% in 2024/25 but warned that attacks on shipping in theRead More →
Wasted wind power will add £40 to the average UK household’s electricity bill in 2023, according to a think tank. That figure could increase to £150 in 2026, Carbon Tracker has estimated. When it is very windy, the grid cannot handle the extra power generated. So, wind farms are paidRead More →
Are you selling online and making a little extra income? Well, if you are, as from 1st January 2024 you will now fall foul of UK tax rules if you do not declare the income generated from these sales. Companies like Etsy, eBay, Vinted, Airbnb etc. are obliged to collectRead More →
House prices have ended the year 1.8% lower in the UK, according to Nationwide Building Society The Nationwide forecasts no growth or a further fall in 2024. The lender said the average house price across the UK was £257,443 in December 2023. This was flat compared to November 2023 butRead More →
The UK is at risk of recession after revised figures indicate the economy shrank between July and September 2023. A recession is defined as when the economy shrinks for two three-month periods in a row. Gross Domestic Product (GDP), which measures the health of the economy, contracted by 0.1% afterRead More →
UK inflation fell by more than expected in November 2023, driven largely by a drop in fuel prices. Inflation dropped to 3.9% in the year to November 2023, down from 4.6% in October 2023. Other than fuel, slowing food and household items were also behind the drop. Inflation has fallenRead More →