Rishi Sunak has promised to scrap VAT on household fuel bills for a year to tackle the cost of living crisis, in a dramatic U-turn, as he battles to remain in the race to become the next prime minister. With Truss promising £30bn in immediate tax cuts, Sunak has repeatedly stressed the risks of unfunded […]
The railways will again grind to a halt on Wednesday as workers strike over pay, job security and working conditions. The latest talks to avert the action failed last week, a month since three days of industrial action in June. The strikes involve more than 40,000 workers at Network Rail, 14 train companies, and members […]
Monzo has been censured by the competition watchdog after the digital bank failed to provide thousands of customers who were closing accounts with copies of their transaction histories. Banks are required to send this information as a matter of course, but Monzo omitted to do so for 13,566 account-holders between the end of May last […]
Gas prices in Britain surged yesterday to highs not seen since March after Russia further curtailed supplies to Europe, just as European Union leaders agreed a weakened emergency plan to curb demand. UK wholesale gas prices for the month ahead rose by 17 per cent to more than 375p a therm — four times higher […]
The International Monetary Fund cut its global growth outlook for this year and next, warning that the world economy may soon be on the cusp of an outright recession. Kathleen Hays reports on Bloomberg Television. ——– Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: https://www.bloomberg.com Connect with us on… […]
Steen Jakobsen, chief investment officer and chief economist at Saxo Bank, discusses the US economy, what to expect from the Fed decision and his investment strategy for markets. He speaks on Bloomberg Television. ——– Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: https://www.bloomberg.com Connect with us on… Twitter: https://twitter.com/business […]
President Joe Biden will speak with Chinese leader Xi Jinping on Thursday amid fresh tensions over Taiwan, according to people familiar with the matter. John Liu reports on Bloomberg Television. ——– Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: https://www.bloomberg.com Connect with us on… Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: […]
Spending on travel and entertainment by UK SMEs using American Express corporate cards exceeded pre-Covid figures during the second quarter. In a further sign that SMEs have been leading the recovery in corporate travel, their overall spending reached 108 per cent of the figure recorded in the second quarter of 2019. There are also positive […]
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