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Economy

Economy

Food Inflation Hits Popular Chains: How Nando's, Zizzi, McDonald's, and Wetherspoon are Responding
22 March 2023
312
How price hikes are impacting popular restaurant chains in Britain Dining out in Britain has become increasingly expensive in recent months as restaurants and pubs struggle with rising costs. Some of the popular chains, including McDonald's, Wethers...
Experts Warn: The World is Facing a Financial Crisis 'Far Worse' Than the GFC
20 March 2023
660
Crisis in banking sector In the aftermath of the collapse of Silicon Valley Bank and a rescue deal for Credit Suisse, an analyst has argued that the world is heading towards a crisis that is "far worse" than t...
Tech start-ups at risk as Silicon Valley Bank collapse prompts UK government action
12 March 2023
1475
The UK economy The UK government is taking steps to minimize the economic impact of the recent bankruptcy of Silicon Valley Bank (SVB), one of the largest US banks. Jeremy Hunt said that the government is working at a fast pace to respond to the fa...
Crisis: England probably won't reach goal of ending rough sleeping by 2024
28 February 2023
1638
Rough sleeping in United Kingdom Crisis, a leading homelessness charity in the UK, the government is likely to miss its target of ending rough sleeping in England by 2024. The charity...
HMRC plans to send tax non-payment notices to 4,300 Britons earning online
17 February 2023
1649
Internet businessmen and tax Revenue and Customs (HMRC) will send 4,300 notices to internet earners in the kingdom whom it suspects of not paying taxes. This was reported by the Financial Times. The authority said such letters will be sent to peopl...
London's FTSE 100 stock exchange index hits a new record high
8 February 2023
1625
FTSE 100 hits record high again The London Stock Exchange's FTSE 100 Index, which is based on the stocks of the 100 largest-cap companies, reached a record high of 7,926 points on Wednesday. That figure beat the previous record, which was set on Fe...
FTSE 100 index rises to record high
3 February 2023
1572
A record on the stock exchange The London Stock Exchange's FTSE 100 Index, which is based on the shares of a hundred large-cap companies, gained 84 points, or 1.1 per cent, to a record high of 7,906 points in trading on Friday. The previous record ...
The Bank of England raised the rate for the tenth time in a row
2 February 2023
1602
Rate hike The Bank of England raised its rate for the tenth time in a row, by 50 basis points, to 4% per annum, according to a statement on the regulator's website. Edward Park, investment director at investment management firm Brooks Mac...
Brexit costs for UK £100 billion a year in list production
31 January 2023
1562
The UK economy Britain's exit from the European Union (Brexit) is costing the economy £100 billion annually due to lost investment, loss of staff and income from trade. This was ...
BP predicts that OPEC's share in global oil production will rise to 65% by 2050
30 January 2023
1575
Oil production indicators The oil production of the member countries of the Organization of the Petroleum Exporting Countries (OPEC) may reach from 45% to 65% of total world production by 2050, having almost doubled compared...
Rishi Sunak says UK's problems will not end in 2023
31 December 2022
1750
The problems with the economy is going to continue Prime Minister Rishi Sunak believes that in 2023 the time of hardship in the UK will continue because of the effects of the conflict in Ukraine. "I'm not going to pretend that all our problems will...
The UK hospitality sector lost $1.8bn to strikes in December
30 December 2022
1715
Strikes are bad for the hospitality sector The profit lost by UK pubs, hotels and restaurants to strikes in December was £1.5bn, British Hospitality Association (BHA) head of hospitality Kate Nicholls said on Friday. "We have recorded cancell...
UK GPD shrinks 0.3% in third quarter
22 December 2022
1736
GPD in Q3 The UK economy contracted by 0.3% in the third quarter instead of the expected 0.2%. This is evidenced by a report released Thursday by the Office for National Statistics (ONS) of the ...
The UK lost $40bn because of Brexit
21 December 2022
1721
UK GDP The United Kingdom's exit from the European Union (Brexit) has cost the UK £33bn in lost investment and trade revenue by June 2022. That is the conclusion contained in a study published on Wednesday by the Centr...
UK economy at risk by half a million exodus from workforce
20 December 2022
1598
Labour force in the UK Early retirement and an ageing population are among the main drivers of labour shortages in the United Kingdom. This was the conclusion reached by the authors of a report published on Tuesday by the House of Lords Economic Aff...
Bank of England raises interest rate for the ninth time in a row to 3.5%
15 December 2022
1629
UK interest rates The Bank of England has raised its rate for the ninth consecutive time, by 50 basis points, to 3.5 per cent per annum, according to a statement on the regulator's website. "The Bank of England's Monetary Policy Committee (MPC) vot...
ARM company stops export leading-edge chip designs for China
14 December 2022
1647
Chips from ARM The British company ARM has decided to stop supplying the latest technology to China. This was reported by the Financial Times. According to the newspaper, such a step of the manufacturer is connected with the fact that "the USA and ...
Britain to lay out financial sector reforms in 2023
9 December 2022
1743
Financial sector reforms The UK will carry out the first reforms to its financial sector after leaving the European Union (Brexit) to make it internationally competitive. This was said by ...
London keeps its position as Europe's largest financial centre
8 December 2022
1682
Europe's financial capital London will no longer be the financial capital of Europe after the UK leaves the European Union in February 2020. This was announced on Wednesday by Stephane Boujnah, CEO and chairman of Euronext stock exchange, in an inte...
UK's highest-flying Isa fund is now the worst 'Falling to Earth'
3 December 2022
1639
Global stock markets Two of the UK's most popular funds were hammered, notably the technology-focused Scottish Mortgage Investment Trust. Seraphim Space Investment Trust was launched with great pomp last summer as a UK fund focused on space technol...

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