News And Announcements
UK construction sector rocked by shortages
The UK construction sector’s recovery stalled last month, a closely-watched survey showed on Wednesday, as higher prices, staff shortages and supply chain disruptions hit home.
UK consumers continue accumulating excess savings in October
Britons continued to display caution last month, adding to their stash of excess savings, although the opposite was true of corporates, the latest money and credit data from the Bank of England appeared to show.
Government on standby for collapse of energy supplier Bulb - report
The government is reportedly accelerating contingency plans for the collapse of energy supplier Bulb.
Crossrail facing another hurdle as MPs reveal £150m funding gap
The long-awaited but never-arrived Elizabeth line could be facing yet another delay, as MPs warned the cross-London railway was facing yet another funding shortfall of around £150m.
Independent retailers help stem rise in empty stores - BRC
Empty UK stores remained at a record high in the third quarter but vacancies did not rise for the first time in more than three years as independent retailers revived, an industry survey showed.
ECB leaves rates unchanged as expected
The European Central Bank left key interest rates unchanged on Thursday, as it said the pace of asset purchases under its Pandemic Emergency Purchase Programme (PEPP) would be "moderately lower".
'High chance' BoE will hike rates next week, says Capital Economics
There’s a "high chance" the Bank of England will raise interest rates at next week’s meeting, Capital Economics said on Thursday, adding that it will be "fast out of the blocks but won’t go the distance".
Living standards to fall after Sunak budget - IFS
Living standards will fall for many people in the UK as a result of Rishi Sunak's budget, one of Britain's top economic thinktanks has warned.
Eurozone economic confidence beats expectations
Eurozone economic sentiment beat expectations but supply problems suggest problems ahead for the currency zone's businesses.
UK Budget: Sunak gambles on spending spree ahead of pre-election tax cuts
UK Finance Minister Rishi Sunak on Wednesday gambled on a budget spending package to help Britain recover from the Covid pandemic with a string signal that tax cuts would arrive before the next election.
Chip shortages sees UK Sept car production hit lowest level in 40 years
UK car production fell for the third month in a row, hitting its lowest level in four decades, industry data revealed on Thursday.
UK Budget: Rising debt interest payments 'could hit growth forecasts'
Rising interest payments could hit the UK economy's chances of 6. 5% growth next year, economists said on Wednesday after the the government published its budget forecasts.
Retail prices to rise before Christmas - BRC
UK shoppers face rising prices in the run-up to Christmas after the cost of goods increased for the third month running, the British Retail Consortium said.
UK inflation expectations hit highest level since 2008
Household expectations for inflation over the next year hit their highest level in October since the 2008 financial crisis, a survey by Citigroup and YouGov showed on Tuesday.
Ikea set to take over former Oxford Street Topshop
Assemble-at-home furniture giant Ikea is setting up shop in the heart of the West End, buying the flagship site of failed high street fashion stalwart Topshop on Oxford Street.
UK retail stock shortages worst for 35 years - CBI
Shortages of retail products hit a level not seen for more than 35 years in October as stock failed to keep pace with rising demand, a survey showed.
Sunak to lift public sector pay freeze in latest pre-Budget disclosure
UK Finance Minister Rishi Sunak has confirmed reports her will lift a public sector pay freeze when he presents his budget on Wednesday.
Rishi Sunak to raise national living wage to £9.50
Chancellor Rishi Sunak will raise the national living wage to £9. 50 as part of Wednesday's budget, giving British workers an extra £1,000 per year.
UK petrol prices hit record highs as Brent crude reaches $86
UK petrol prices hit a new record high in the UK as global oil prices continue to soar, placing further inflationary pressure on hard-pressed Britons already struggling with surging energy costs and a tax rise.
Retail footfall declines ahead of half-term break - Springboard
Footfall at UK retail destinations fell last week in the run-up to the half-term holiday and as workers’ return to the office begins to slow, according to data released on Monday by retail analyst Springboard.