Government borrowing in May soared to £15bn, the highest level since the Covid-19 pandemic, but still below the Office for Budget Responsibility’s (OBR) forecast. This figure was £800m higher than in May last year, yet £600m less than anticipated by the OBR. As the general election looms, the victorious party will grapple with significant challenges […]
Retail sales surged in May, recording a significant recovery from April’s downturn, which was caused by unusually wet weather. According to the Office for National Statistics, sales volumes increased by 2.9% in May, surpassing City analysts’ expectations of a 1.5% rise. This follows an upwardly revised 1.8% contraction in April. The boost in sales was […]
Shadow Chancellor Rachel Reeves has declared that Britain is emerging as a “safe haven” for international investment, contrasting the country’s stability with the political turbulence seen in France and neighbouring European nations. In a bid to reassure multinational companies, Reeves announced that the Labour Party would host an international investment summit within 100 days of […]
Biffa Waste Services Ltd has launched a legal case to reclaim approximately £200 million from Scottish ministers, citing significant losses from investing in the government’s aborted bottle recycling scheme. The company’s legal team has filed a case at the Court of Session, Scotland’s highest civil court, seeking to recover a £150 million loss incurred due […]
Britons have curtailed their supermarket shopping and traditional summer purchases due to recent poor weather, despite a further decline in grocery price inflation, according to a report by Kantar. In the four weeks to 9 June, supermarket prices were 2.1% higher than a year ago, down from May’s 2.4% inflation rate. This marks the 16th […]
The use of rail season tickets in Great Britain has plummeted to the lowest level on record, driven by a significant increase in working from home since the Covid-19 pandemic. According to figures from the Office for Rail and Road (ORR), the industry regulator, the number of rail journeys made by people using season tickets […]
The UK’s main stock market has reclaimed its position as Europe’s most valuable for the first time in nearly two years. The total value of companies listed on the London Stock Exchange (LSE) reached $3.18 trillion on Monday, overtaking the $3.13 trillion valuation of companies listed in Paris, according to Bloomberg data. Market Dynamics This […]
Investment levels in the UK remain among the lowest of the world’s richest nations, posing a significant challenge to economic growth, according to the Institute for Public Policy Research (IPPR). The centre-left think tank highlighted that the UK’s total investment is “significantly” behind the nearest competitor in the G7 group of wealthy nations. Despite the […]
Nvidia Corporation, renowned for its AI chips, has surpassed tech giants Microsoft and Apple to become the world’s most valuable public company. Closing at $135.58 per share, Nvidia’s market valuation surged to approximately $3.35 trillion, propelled by a 3.5 per cent rise in stock prices. This remarkable rally has seen Nvidia dethrone Microsoft as investors […]
Reform UK has launched its 2024 general election manifesto, promising sweeping tax cuts and public sector reforms after overtaking the Conservatives in a recent poll. The party, led by Nigel Farage, aims to dramatically reshape the economic landscape and public services. Reform UK plans to raise the minimum income tax threshold from £12,600 to £20,000, […]