UK borrowing falls as debt pile revised to under 100 per cent of economy uk economy The Government’s debt pile was bigger than the country’s economic output in June – the first time this has happened for more than 60 years, official data shows. Public sector net borrowing hit £18.5 billion last month, down from £20 billion a month earlier, the Office for National Statistics (ONS) said. It pushed the total [...]
Britons are worst investors in Europe and have £1.8trn sitting idle in savings London Stock Exchange Britons’ are the worst investors in Europe and have around £1.8trn sitting idle in savings accounts, around the entire value of the FTSE 100, a new report released today has found.
Starmer vows to break high-tax, low-growth ‘doom loop’ Labour Sir Keir Starmer has vowed the Labour Party will ensure “investment thrives” in order to boost growth in the UK economy if he is elected Prime Minister. The opposition leader hinted he would step up government investment and launch policies to boost private investment. Asked by CityAM about investment and tax and spending policies, [...]
Mortgage approvals snap back following mini budget chaos, but net lending at lowest since 2016 March 29, 2023 Mortgage approvals have improved for the first time since August, as the market begins to shake off the stress of the mini-budget, however experts have warned that the housing market will “remain price sensitive”. According to the Bank of England’s Money and Credit report for February, net mortgage approvals for house purchases increased to 43,500 [...]
‘Britcoin’: Bank and Treasury explore the need for a digital pound February 6, 2023 The Bank of England and Treasury are exploring launching a digital pound in a move that officials claim would firm up financial stability in Britain. “No decision has been taken at this stage,” the pair’s experts said yesterday, but added that what some are dubbing ‘Britcoin’ is “likely to be needed in the future”. The [...]
London markets remain open as UK mourns death of Queen Elizabeth II September 9, 2022 LONDON’s markets continue to operate as usual as the UK enters a period of official mourning following the passing of Her Majesty Queen Elizabeth II. The London Stock Exchange said yesterday its bourses will operate according to their normal schedule today and throughout the “official period of mourning” for the Monarch, which is now set [...]
US hints at sanctions on Russian oil March 7, 2022 A senior US official yesterday dangled the prospect of a worldwide ban on Russian oil imports, ratcheting up tensions between both sides.
Energy prices spike after Russia invades Ukraine February 25, 2022 Russian President Vladimir Putin’s decision to launch a full-blown incursion of Ukraine sent energy prices soaring raising fears the UK's living squeeze will tighten.
Buckle up: Wild ride on Wall Street as rate rise talk spooks investors January 10, 2022 An explosive Goldman Sachs note triggered a day of drama on Wall Street today after the investment bank warned of as many as four US Fed rate rises in 2022 alone. The tech-heavy Nasdaq crashed by as much as 2.7 per cent in early trading, tipping it briefly into correction territory. A late rally saw [...]
As London passes the peak and transport reopens, could it really be a happy new year? January 10, 2022 London may be emerging from the worst of the new Covid-19 peak, with the capital’s public health boss saying London appears to be past the peak of infections and vital transport infrastructure kicking back into gear today. Professor Kevin Fenton, London’s public health director, said the data suggests “we may have passed or are at [...]
