Following the Bank of England's decision to raise its base interest rate to 5%, Chancellor of the Exchequer Jeremy Hunt has announced new support measures for homeowners struggling with rising mortgage repayments. The Chancellor met with the UK's main lenders and the Financial Conduct Authority … [Read more...]
News for: General Business News
Bank of England raises interest rates further to 5%
The Bank of England's Monetary Policy Committee (MPC) has agreed its 13th consecutive rise in its base interest rates, which now stand at 5% The 0.5 percentage point increase brings the bank's base rate to its highest level since early 2008, prior to the global financial crisis that ushered in … [Read more...]
North-west house prices up 4.8% on 2022
House prices in the North-west rose 4.8% in the 12 months to April 2023, according to the latest UK House Price Index published by the Office of National Statistics (ONS). The region has seen the second fastest house price growth in the UK, behind only the North-east (5.5% growth in the same … [Read more...]
£200 million investment announced to support greener aviation
Industry Minister, Nusrat Ghani, has announced more than £200 million of funding to support research and development projects to make the aviation sector greener. The £218 million combined government and industry investment will support new aerospace technologies, including greener landing gear … [Read more...]
ICO recommends organisations start using privacy enhancing technologies when sharing data
The Information Commissioner's Office (ICO) has made a new recommendation for organisations to use privacy enhancing technologies (PETs) to share people’s personal information securely. The UK data protection authority's new PETs guidance is aimed at data protection officers and others who are … [Read more...]
Government plans £50 billion growth for UK creative industries
The UK government has set out new plans to target £50 billion of growth in the nation's creative industries by 2030, and support an additional 1 million jobs. Speaking at the London Tech Week conference on Monday, Prime Minister Rishi Sunak announced the plan to support the creative industries, … [Read more...]
Incomes remain outpaced by inflation, finds ONS, despite 7% annual rise in average pay
Average incomes have risen by 7% on last May but payrises remain outpaced by inflation, according to the latest earnings data released by the Office of National Statistics (ONS). Based on real-time earnings of PAYE taxpayers, estimates for May 2023 indicate that median monthly pay in the UK … [Read more...]
Challenging economic times are making landlords think creatively, finds Handelsbanken survey
Large portfolio professional landlords are looking to pay down debt in the face of challenging economic conditions, new independent research conducted on behalf of Handelsbanken shows. This year’s Handelsbanken Professional Landlords Survey – based on nationwide research among large UK investors … [Read more...]
Aldi calls on more businesses to become suppliers
Aldi is looking to expand the number of UK suppliers the supermarket chain deals with, as part of an ongoing drive to support British small businesses. The German discounter has put a call out for more small businesses from all regions of the UK to look to put their products in Aldi stores … [Read more...]
Construction sector monitor finds strong growth in development of new office schemes
The total value of new office schemes granted planning permission doubled on the previous year in the first three months of 2023, construction sector monitor Glenigan has revealed. Rising numbers of approved schemes, totalling £3.5 billion in the first quarter of 2023, has also seen construction … [Read more...]
Inflation falls to 8.7%
Inflation fell to 8.7% in April, according to the latest Consumer Price Index figures published today (24th May) by the Office of National Statistics (ONS). The fall, down from 10.1% in March sees the measure of price increases drop back below double figures for the first time since September's … [Read more...]
Landlords see opportunities despite tough economic climate, finds Handelsbanken survey
Despite the economic uncertainty, large portfolio professional landlords are in a confident mood, according to the findings of an independent survey commissioned by Handelsbanken. The Handelsbanken Professional Landlords Survey – based on nationwide research among large UK investors with an … [Read more...]
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