Households are facing a “groundhog year” in 2023, as soaring gas bills and planned tax rises squeeze disposable incomes and send living standards tumbling for the second year running. Higher mortgage costs as fixed-rate loans come to an end and new deals are negotiated will add to the financial burden already felt by millions of […]
House prices recorded their “worst run” since 2008 following a fourth consecutive monthly decline in December, according to a closely-watched measure. Mortgage lender Nationwide’s index charted a sharp slowdown in the annual rate of price growth – to 2.8% this month following the 4.4% recorded in November. It said prices dipped 0.1% in December compared […]
Tesla stocks have slid to their lowest value in more than two years as the electric car maker plans to reduce its production cycle and investors worry how much time Elon Musk is dedicating to managing Twitter. Musk emailed Tesla staff telling them not to be “bothered by stock market craziness” and that Tesla will […]
Restrictions on travellers from China are likely to be pointless, Britain’s vaccine chief has said as Spain became the latest country to impose Covid tests on arrivals from the country. European public health chiefs also said that border measures were “unjustified” because the continent is well protected and there is no sign of a new […]
The first coins bearing the official effigy of the King have appeared in circulation in post offices around the UK. The King’s portrait will first appear on a 50p, with the reverse, or “tails” side of the coin, commemorating the life and legacy of Queen Elizabeth II. A commemorative version of the coin was released […]
The rail strikes have had a worse impact on the UK’s hospitality industry than expected – costing bars, pubs, restaurants and hotels £1.5bn in December alone – according to the head of the body representing the sector. Kate Nicholls, the chief executive of UKHospitality, said this had contributed to a “perfect storm” for businesses battling […]
Two thirds of small firms plan to make some form of investment in their business by 2024, but under half feel they are fully aware of the different types of financing options available to them, new research has found. FSB’s new report, Credit Where Credit’s Due, draws together findings which paint a concerning picture around […]
The next Budget, setting out the government’s tax and spending plans, will be held on 15 March 2023, the Treasury has announced. In a statement, Chancellor Jeremy Hunt said the Budget would also be accompanied by a forecast from the Office for Budget Responsibility. The chancellor last set out his economic plans in November, including […]
Eggs laid by hens kept indoors for months straight due to bird flu could be sold as free-range under a potential relaxing of rules. It comes as egg farmers in the UK have been battling the biggest avian flu outbreak on record, leading to fears of shortages. Under changes being looked at by ministers, there […]
America’s biggest energy producer is suing the European Union in an attempt to force the scrapping of the bloc’s new windfall tax on oil groups, arguing that Brussels exceeded its legal authority by imposing the levy. ExxonMobil lodged a lawsuit yesterday in what is regarded as the most significant response yet against the tax from […]