In April, business activity in the UK construction sector expanded at its fastest pace in over a year, according to a new survey by S&P’s purchasing managers’ index (PMI). Despite this overall growth, housebuilding continued to face challenges. The PMI for the construction sector recorded 53.0 in April, indicating growth and surpassing expectations. Among the […]
Recent analysis by Lloyds Bank suggests that the UK economy likely emerged from recession at the start of this year, with growth gaining momentum across several key sectors. According to Lloyds Bank figures, more than half of the sectors within the UK economy experienced growth in the first quarter of the year. Notably, services businesses, […]
Trainline has announced a remarkable surge in operating profit, exceeding 100 per cent growth last year, propelled by robust ticket sales, according to its latest annual results. The company revealed a doubling of operating profit from £28 million in 2023 to £56 million in the 12 months leading up to 29 February. Driven by strong […]
Goldman Sachs has announced the elimination of a bonus cap for hundreds of its top UK bankers, enabling star performers to potentially earn bonuses up to 25 times their annual salary. Richard Gnodde, the CEO of Goldman Sachs International, revealed this change in a video message to staff, stating that it aligns with the firm’s […]
In a significant move likely to spark controversy, the government is set to permit fossil fuel companies to conduct oil and gas exploration beneath offshore wind-power sites for the first time. This announcement, slated for Friday, has drawn criticism from environmentalists, who argue it signals a departure from the climate agenda. The North Sea Transition […]
UK Export Finance, the government’s trade finance arm, has committed to a significant expansion in the number of businesses it supports by 2029, with a particular focus on small and medium-sized enterprises (SMEs), especially those led by women. The export credit agency, which provides insurance cover on overseas contracts and guarantees on export-related loans, aims […]
Coutts, the bank of choice for members of the royal family, has stirred controversy by transferring close to £2 billion of client funds out of the London stock market to invest in overseas ventures. The move by this private bank, catering to tens of thousands of affluent clients, involves reducing the allocation to UK shares […]
Breadcrumb Trail Links News Economy Banking Senators questioned whether Bank of Canada should just change its inflation target to give Canadians relief on high mortgage rates Get the latest from Barbara Shecter straight to your inbox Sign Up Published May 01, 2024 • Last updated 1 hour ago • 4 minute read Bank of Canada Governor […]
Mulberry, the British luxury brand renowned for its exquisite leather handbags, has encountered a 4% dip in annual sales, echoing broader trends of reduced spending among affluent consumers. Despite experiencing growth in international markets, particularly in the United States, the company grapples with challenges in the UK and Asia, reflecting the prevailing downturn in luxury […]
Amazon continues its streak of impressive earnings reports, revealing soaring profits for the first quarter of 2024, bolstered by strong performances in artificial intelligence (AI) and advertising sales. The e-commerce behemoth reported a remarkable overall revenue of $143.3 billion in the first three months of the year, marking a 13% increase from the same period […]