The latest inflation data from the Office of National Statistics (ONS) has revealed the rate of price rises quickened in July for the first time this year. The ONS recorded that its headline measure of inflation, the Consumer Price Index, rose by 2.2% in the 12 months to the July 2024, up from … [Read more...]
News for: General Business News
Chancellor calls for UK pension funds to invest more in infrastructure
Chancellor of the Exchequer, Rachel Reeves, seeks to boost investment in UK infrastructure from British pension funds in a bid to support growth. Reeves has called on UK pension funds to learn from the successes of Canadian counterparts in investing in the UK, and has met with the 'Maple 8' group … [Read more...]
AI projects to boost productivity awarded £32 million
Government funding of £32 million has been awarded to companies developing artificial intelligence (AI) that can improve productivity and public services. A total of 98 projects involving more than 200 businesses and research organisations have been successful in securing funding spanning a … [Read more...]
New car market achieves two straight years of growth
New car sales in the UK have recorded 24 consecutive months of growth, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). July 2024 saw the new car market perform 2.5% better than the same month last year, with over 147,500 new cars registered and the … [Read more...]
Strikes Act 2023 to be repealed in upcoming Employment Rights Bill
Laws which came into force in 2023 to enforce minimum service levels during public service strikes are to be repealed in a new bill aimed at strengthening employment rights. The Government has announced it plans to reverse the previous administration's requirements for minimum service levels to … [Read more...]
Bank of England cuts interest rates for first time since March 2020
Economists at the Bank of England have voted in favour of cutting its base rate to 5%, the first cut in interest rates since March 2020. The Monetary Policy Committee voted 5-4 in favour of the 0.25 percentage point cut in interest rates. The decision follows interest rates having been held at … [Read more...]
Housing Secretary increases housebuilding targets for local authorities
Deputy Prime Minister and Housing Secretary, Angela Rayner, has written to Metro Mayors and local authorities from across England calling on them to play their part in building new homes. As part of an overhaul of the planning system, all councils in England are to be given new, mandatory housing … [Read more...]
Low Pay Commission to consider the cost of living in future minimum wage recommendations
The Government has asked the Low Pay Commission to consider the cost of living in its recommendations for the rate of minimum wage for the first time. The Secretary of State for the Department of Business and Trade has written to the Chair of the Low Pay Commission as part of the Government's … [Read more...]
Chancellor announces plans to address unfunded spending following Treasury audit
Chancellor of the Exchequer, Rachel Reeves, has announced the need to address unfunded spending commitments of £22 billion revealed to have been made by the previous government in a Treasury audit. Addressing the House of Commons on 29th July, Rachel Reeves outlined that a number of financial … [Read more...]
Handelsbanken survey reveals Brits’ financial regrets
Independent research conducted for Handelsbanken Wealth & Asset Management has revealed what Brits see as their biggest financial regrets and accomplishments. Over a third (36%) of UK adults cite not saving consistently from a young age as their biggest financial regret, reveals the survey, … [Read more...]
UK joins new global digital trade agreement
The UK is among the 90 countries to have signed up to a new global digital trade agreement at the World Trade Organisation (WTO). The E-Commerce Joint Initiative follows five years of negotiations at the WTO and aims to boost global digital trade (estimated to be worth around £4 trillion by the … [Read more...]
Cheadle Carpetright store among the 54 saved from closure
Flooring retailer, Carpetright, has sold 54 of its stores, including its Cheadle branch, after appointing administrators on 22nd July, with Tapi Carpets and Floors Limited also purchasing the brand and two logistics depots. Carpetright's Cheadle location on Councillor Lane is the only Greater … [Read more...]
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