The UK economy has rebounded from a short-lived recession, posting a growth of 0.6% in the first quarter of 2024, marking its fastest pace of expansion in two years. This growth surpassed economists’ expectations of 0.4% and reversed the 0.3% contraction observed in the final quarter of 2023. This positive growth trajectory, the quickest since […]
The Bank of England has opted to keep interest rates unchanged at 5.25%, marking the sixth consecutive meeting at this 16-year high level. However, there are signals from the central bank indicating a potential shift towards a rate cut, possibly as early as June. Andrew Bailey, the Governor of the Bank of England, hinted at […]
The Bank of England is anticipated to keep interest rates steady at 5.25%, marking the sixth consecutive hold on Thursday. This decision will come against the backdrop of persistently high inflation, which currently stands at 3.2%, exceeding the Bank’s 2% target. Alongside the interest rate announcement, the Bank will unveil its latest economic forecast, shedding […]
Car manufacturers are sounding the alarm over slowing demand for electric vehicles (EVs) among private buyers in the UK, prompting urgent calls for government intervention to reignite interest in battery-powered cars. Despite an overall increase in UK vehicle registrations by 1% year-on-year to 134,000 in April, driven by fleet sales, private buyer sales witnessed a […]
In a landmark decision, members of the historically male-only Garrick Club have voted to open their doors to women for the first time in its 193-year history. The pivotal vote, held on Tuesday evening, saw 60 per cent of the club’s 1,500 members in favour of the long-awaited change. Amidst the iconic setting of the […]
Social media giants TikTok and Instagram are in the spotlight as Britain takes decisive action to protect its youth from harmful online content. Under new regulations set forth by Ofcom, these platforms are mandated to rein in their algorithms that propagate detrimental material to children. The stringent code of practice outlined by Ofcom aims to […]
The Commons Treasury committee has expressed concerns over proposed lending rules that could adversely affect small businesses in the UK. These rules, put forth by the Prudential Regulation Authority (PRA) as part of the Basel 3.1 package, aim to enhance banks’ resilience but may inadvertently raise borrowing costs for small firms. Specifically, the committee highlighted […]
The Trades Union Congress (TUC) has highlighted a concerning trend in the UK labor market, indicating that workers are significantly worse off compared to before the 2008 financial crisis. According to their analysis, if wages had continued to grow at pre-crisis levels, the average UK worker would be £200 a week better off. This stark […]
Passport e-gates across key UK airports experienced a widespread malfunction, triggering chaotic scenes as travellers faced lengthy queues and manual checks by border officers. The nationwide breakdown occurred on Tuesday evening, exacerbating frustrations just days after a similar incident, prompting scrutiny of the Home Office’s handling of the technology’s reliability. Passengers returning from extended bank […]
Senior Tory MP Sir Iain Duncan Smith has said the UK should be imposing economic sanctions on China, following claims that the country has hacked the Ministry of Defence. Sir Iain said he believed there was conflict within Whitehall about how to handle China but warned the country’s purpose was to ‘destroy democracy’ and the […]