Stories tagged “Uk Economy.”
22 stories
Chancellor John Healey will present Labour's first Budget on October 28, balancing household support with fiscal rules amid high borrowing costs. Speculation includes a first-time buyer scheme and potential Capital Gains Tax changes.
UK government borrowing hit £18.3bn in August, exceeding forecasts by £2.7bn and the OBR's projection by £3.5bn, driven by higher inflation impacting public spending and a record debt interest bill. This creates a "fiscal straitjacket" for Chancellor John Healey ahead of …
UK government borrowing unexpectedly surged to £18.3bn in August, driven by higher inflation and record debt interest costs, intensifying pressure on Chancellor John Healey ahead of his first Budget.
Labour Party chair Bridget Phillipson criticized billionaire Sir Jim Ratcliffe for making negative comments about the UK's economy while living as a tax exile in Monaco. Ratcliffe, co-owner of Manchester United, cited high taxes and immigration as reasons for his lack of …
A new PwC report reveals that nearly half of UK households, equivalent to 12.5 million, live in areas where economic growth does not translate into improved living standards, highlighting a significant North-South divide.
UK house prices increased by 0.2% in August, marking the first rise in four months, according to Nationwide. The average home price reached £275,465 as the market awaits a crucial Bank of England interest rate decision.
Britons face a 4 percent increase in their energy price cap from October 2026, driven by soaring wholesale gas prices due to the intensifying US-Israel war on Iran and the closure of the Strait of Hormuz.
The late owner of streaming platform OnlyFans, Leonid Radvinsky, was paid more than $700m in dividends before his death from cancer earlier this year. The company made $714m in profit before tax last year, an increase of 5% from 2024.
Andy Burnham has refused to rule out tax rises in the upcoming autumn Budget, saying he 'won't be unrealistic' about the 'challenging' state of public finances.
UK graduate job vacancies have hit a 10-year low, with just 8,383 roles advertised in July, a 45% drop from last year. This comes as a record number of students prepare for university.
Oil prices, specifically Brent crude, have risen above $91 a barrel following the end of a US-Iran ceasefire, while the UK sees grocery inflation slow to a two-year low of 2.1%. The UK jobs market shows mixed signals, with slowing wage growth in the private sector but per…
Job vacancies in the UK have fallen to their lowest level in over five years, reaching 707,000, primarily due to smaller businesses cutting back on hiring amidst rising labour and operating costs.
Viral Welsh vodka firm Au Vodka is reportedly nearing a £500m sale to Southern Comfort and BuzzBallz owner Sazerac. The deal would earn Swansea-based founders Charlie Morgan and Jackson Quinn over £100m each.
A new assessment suggests UK productivity has seen a "meaningful pickup" since mid-2024, challenging previous gloomy official figures and raising questions about data reliability.
The UK economy expanded by 0.4% between April and June, driven by the services sector, manufacturing, and a boost from good weather and sporting events like the men's football World Cup.
UK house prices remained largely unchanged in July, with a minimal 0.1% annual increase, according to Lloyds. Higher mortgage rates and economic uncertainty are impacting buyer affordability.
EasyJet has agreed to a £5.7bn takeover by US firm Apollo after a rival bidder dropped out. The airline's shareholders will receive £7.15 per share.
Marks & Spencer is now selling Ann Summers crotchless knickers online, sparking outrage but also being seen as a strategic move to attract younger demographics and expand its brand offerings.
UK petrol prices have reached a new high of 160p a litre, driven by renewed US-Iran tensions and disruptions in the Strait of Hormuz, significantly increasing costs for households.
The FTSE 100 is set for its best monthly performance since February, defying geopolitical turmoil and rising UK petrol prices, while other major global markets also show mixed movements.
The rising cost of insuring against climate-related disasters will have significant knock-on effects for the UK economy. TheCityUK report highlights the challenges of pricing climate risk, which could lead to protection gaps and increased costs for investment.
Sterling today: Pound steadies near two-month low as political risks mount
The pound has steadied near a two-month low as political risks mount, despite a stronger-than-expected UK retail sales report. Sterling erased earlier losses to trade just above $1.32 on Friday.