Renters should be able to use their history of payments as proof that they can afford a mortgage, a think tank has argued. The recommendation is one of several made by Policy Exchange that it says should be adopted by the government if it is serious about helping people to get on the housing ladder. […]
The government is set to appoint four new non-executive directors to the internal court of the Bank of England, which acts as its supervisory board. The new blood comes amid a period of intense scrutiny of the central bank’s decisions and mandate. Last week it revised its inflation forecasts and predicted a prolonged recession — […]
Former Chancellor Lord Philip Hammond has been appointed to the advisory board of the provisionally named Fintech Growth fund, a £1bn venture to invest in financial technology startups, according to reports. Sources told Sky News on Monday that Lord Hammond, who served as chancellor under former Prime Minister Theresa May from 2016 to 2019, would […]
July could be the “lull before the storm” for retailers and consumers after the heatwave boosted sales of summer clothing, picnic treats and electric fans despite the intensifying cost of living crisis, experts have warned. Figures from the British Retail Consortium (BRC) revealed a 2.3% sales rise last month compared with a 6.4% rise the […]
The Bank of England will probably have to raise interest rates further from their current 14 year-high to tackle inflationary pressures that are gaining a foothold in Britain’s economy, its deputy governor, Dave Ramsden, has said. The spread of inflation was showing up in rising British pay and companies’ pricing plans, having originally been triggered […]
Intel has called on the government to lay out a strategy for the semiconductor industry and not miss out on inward investment. The giant American chip company is spending €33 billion in mainland Europe on semiconductor research and manufacturing, with support from the European Union, but has no such plans for the UK. Western countries […]
Debt repayments, staff shortages and rising energy bills have pushed almost two-thirds of the UK’s top 100 restaurants into the red, according to research that reveals the impact of the pandemic, Brexit and the cost of living crisis on the hospitality sector. With a recession looming and further increases in energy bills weighing on businesses, […]
A growing number of charities are sending fundraisers door to door to capitalise on the rise in people working from home. Sign-ups for direct debit donations are expected to double pre-pandemic numbers this year, according to the Chartered Institute of Fundraising. VSO (Voluntary Service Overseas) and Oxfam are among the high-profile charities to have relaunched […]
The world’s richest man Elon Musk has been urged to construct a Tesla plant in North East England, after the electric vehicle giant revealed ambitions to build a dozen new factories worldwide. Ben Houchen, the Conservative Mayor for Tees Valley, wrote to Mr Musk on Friday calling on the Tesla billionaire to build a plant […]
Crypto companies have spent $2.4bn (£1.9bn) globally over the last year and a half on sports sponsorships as they splurge on marketing. Major crypto firms have signed deals with big athletes, sporting franchises, and leagues as they seek to rival the marketing prowess of non-crypto brands, according to Bloomberg. Crypto exchange Binance has signed with […]