In the first State of Opening of Parliament since the General Election, the government's plans for planning and housing, transport and devolution have been set out in the King's Speech. The speech has set out newly elected Prime Minister Sir Keir Starmer's focus as improving living standards … [Read more...]
News for: General Business News
Inflation remains at 2% for second month
Inflation in the UK has remained at 2% for the second consecutive month in June 2024 according to new figures published by the Office of National Statistics (ONS). The ONS' headline Consumer Price Index (CPI) remained unchanged on the previous month, with inflation holding at the Bank of … [Read more...]
Prospect of interest rate cuts drives optimism among property investors, finds Handelsbanken
Property investors are cautiously optimistic and focusing on the prospect of interest rate cuts ahead of UK and global political issues, according to a new study by Handelsbanken. The relationship bank's 2024 Property Investor Report, based on exclusive insights from UK property investors with an … [Read more...]
New Chancellor announces changes to planning to support economic growth
Newly appointed Chancellor of the Exchequer, Rachel Reeves, has announced a number of changes to planning rules as part of efforts to drive economic growth. Rachel Reeves, the first woman to take on the job in the UK's history, set out ambitions to deliver over 1.5 million new homes and support … [Read more...]
British Business Bank launches Growth Guarantee Scheme for SMEs
SMEs in the North West will be able to continue to access finance to support investment and growth following the launch of the Growth Guarantee Scheme from the British Business Bank. The scheme, the successor to the Recovery Loan Scheme introduced after the Covid-19 pandemic, is expected to … [Read more...]
Sky launches competition for sustainable businesses
Sky Media has announced that its Sky Zero Footprint Fund is launching an additional initiative to support sustainable SMEs and local businesses promote themselves through TV advertising. Sky was the first media company globally to go carbon neutral in 2006 and since then has continued to use its … [Read more...]
Bank of England continues to hold interest rates at 5.25%
Leading economists on the Monetary Policy Committee (MPC) of the Bank of England have once again chosen to hold interest rates at their current 16-year high of 5.25%. Committee members voted 7-2 in favour of keeping rates at 5.25% for at least a further six weeks; the two members voting against … [Read more...]
Inflation slowed to 2% target level in May
The headline rate of inflation slowed to 2% in May, according to latest Consumer Price Index data (CPI) from the Office of National Statistics (ONS). Inflation fell 0.3 percentage points from April's figure of 2.3%, bringing the rate of inflation back down to the Bank of England's target rate and … [Read more...]
Latest insolvency statistics reveal business owners at critical tipping point, warns Azets
The latest government insolvency statistics reveal many business owners find themselves at a 'critical tipping point', according to Nicola Clark, Restructuring & Insolvency Partner at Azets. May 2024 saw more than 270 compulsory liquidations, more than in the previous month, suggesting that … [Read more...]
Tenant demand for sustainable properties soars, finds Handelsbanken survey
A survey of property investors by Handelsbanken has found that almost all have seen requests from tenants for some form of sustainability measures in the last year. According to the bank’s latest annual Property Investor Report, 92% of investors (with an average 35 properties each) asking for … [Read more...]
UK GDP grew 0.7% in three months to April 2024
The UK economy has experienced quarterly growth of 0.7% in the three months to April 2024, according to the latest GDP data from the Office of National Statistics (ONS). The services sector, the largest part of the economy, was the main contributor to growth, up 0.9% over the three months to … [Read more...]
Fleets and businesses behind May growth in car sales
Purchases of new vehicles by fleets and businesses has driven up new car registrations in May, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). The 1.7% year-on-year growth in registrations in May is the 22nd consecutive monthly increase in car sales, … [Read more...]
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