Bank of England Holds Interest Rates at 5.25%
The decision to hold the rate comes after figures revealed an unexpected slowdown in inflation in August.
UK Inflation Rate Drops for the Third Consecutive Month Despite Expectations
Whilst Whitehall says the slight drop in inflation month-on-month means its policies are working, the UK still has one of the highest inflation rates in the G20.
UK Inflation In Surprise Drop To 18-month Low
British inflation unexpectedly slowed in August, data showed Wednesday, hitting an 18-month low and sparking hope this week's widely-forecast interest rate hike by the Bank of England could be its last for now.
In silent protest, Russian volunteers help Ukraine refugees
For a year and a half Galina Artyomenko had been raising funds to help refugees from Ukraine after the Kremlin sent troops to the pro-Western country.
ECB hikes rates again, maybe for last time
The European Central Bank hiked a key interest rate to a record high Thursday as it battles stubbornly high inflation but indicated that its historic hiking cycle may be at an end.
Waitrose and Aldi cut more prices as Britain's food inflation picture improves
Grocery price inflation has fallen to its lowest level for more than a year, causing major supermarkets to slash prices.
Experts predict the Bank of England will raise interest rates a final time from 5.25% to 5.5%
Initial GDP figures for July show a fall of 0.5 per cent, a worse performance than expected by economists, increasing the fears of a "mild recession".
Prime Minister Rishi Sunak addresses G20 Summit outcomes and global challenges
The Prime Minister's statement emphasised the need for diplomatic pressure on Russia, the role of democracies in addressing global challenges and the UK's commitment to its citizens and allies.
Stock markets rise as US inflation data, ECB rate loom
Global markets rose on Monday at the start of a busy week that includes the release of key US inflation data and a European Central Bank decision on interest rates.
Former council advisor questions legacy of Commonwealth Games amid Birmingham's financial crisis
Birmingham City Council, Europe's largest local authority, declared effective bankruptcy due to annual budget shortfalls, shifting focus to protect vital services while halting non-essential spending.
India to become a developed nation by 2047: Prime Minister Narendra Modi's vision for the future
Prime Minister Modi, in an exclusive PTI interview ahead of the G-20 summit, urged UN reform to align with evolving global geo-economic dynamics and include vital voices.
US stocks shrug off sticky inflation data, Europe mixed
US stocks advanced Thursday as investors shrugged off sticky inflation data and its impact on future central bank policy on interest rates, but European stocks mostly dipped.
Eurozone inflation stagnates in August
Eurozone inflation remained unchanged in August, official data showed Thursday, leaving the European Central Bank faced with a conundrum over whether to continue hiking interest rates amid fears of a deepening economic downturn.
Many travellers from Britain affected by air traffic control issues across the nation
The fallout of the recent air traffic control disruption caused a woman to miss a heart transplant check-up, whilst pro athletes were left stranded in Budapest.
Supermarket prices expected to fall amidst the cost of living crisis
Despite the cost of living crisis and rising inflation, Sainsbury's chief executive believes that supermarket prices are about to start falling.
Fears of further delay to UK's post-Brexit border checks
Britain is expected to confirm that it will once again delay introducing post-Brexit border controls on food and fresh products coming from the European Union, the Financial Times reported Thursday.
UK top bosses earn 118 times pay of workers: study
Bosses running Britain's biggest listed companies enjoyed payrises of 16 percent last year as workers' wages struggled with the worst cost of living crisis in a generation, research published Tuesday found.
UK annual inflation drops to 15-month low
Britain's annual inflation rate dropped sharply in July to a 15-month low, official data revealed Wednesday, off the back of lower energy prices and in line with economists' expectations.
Bank of England predict the rate of food price increases will reduce to 10% by the end of 2023
The Chief Economist of the Bank of England, Huw Pill, has cautioned that food costs in the UK might not see a significant decline due to the aftermath of the Russia-Ukraine war.
The mental health of 14 million people is affected by rising mortgage rates
New research from Mind has revealed the detrimental impact that soaring mortgage costs are having on people's mental health, as well as their finances.
Bank of England raises UK interest rates to a record 5.25%
The last time rates were this high was in April 2008, in the midst of the global financial crash, with the UK's central bank expecting inflation to fall below five per cent in the autumn or winter.
Could a universal vegan diet cure the climate crisis and achieve the 1.5C climate target?
Experts say that veganism is one of the best ways to achieve the current 1.5C climate target. However, they have also recognised that prescribing a universal vegan diet is impossible because 783 million people are suffering from severe acute food insecurity.
More than half of UK businesses say customers are spending less
Recent research has shed light on the shifting trends, indicating a rise in remote work and an increasing preference for second-hand shopping among UK consumers.
Eurozone economic downturn steepens in July
Eurozone economic activity shrank at its fastest rate in eight months in July, as a contraction gathered pace on the back of cuts in manufacturing, a key survey said Monday.
ECB set to hike again with inflation stubbornly high
Another interest rate hike appears a near certainty when ECB policymakers meet Thursday as inflation remains high, but the central bank faces increasing discontent among countries scared high interest rates will hurt growth.
UK inflation drops to almost 8% in June 2023, marking significant slowdown in price growth
Inflation in the UK fell to 7.9 per cent in June 2023 from 8.7 per cent in May, marking the lowest rate since March 2022, as reported by the Office for National Statistics.
UK annual inflation drops under eight percent
Britain's annual inflation rate slowed more than expected in June as it dropped below eight percent, official data showed Wednesday, easing the country's cost-of-living crisis.
British small businesses face uphill battle as GDP dips and challenges mount
UK SMEs face challenges as GDP declined by 0.1 per cent in May 2023, and pressure mounts from interest rate hikes, inflation, and late payment practices by large businesses.
Government offers pay rises to millions of UK public sector workers
The offer comes amidst a backdrop of widespread strikes across the public sector over the past few months, with the government suggesting pay rises of between six per cent and 6.5 per cent for 2023-24.
UK retail sales in June show modest growth, falling behind inflation rates
Retail sales saw a slight improvement in June, with like-for-like (LFL) sales increasing by only 1.9 per cent, according to the latest data from BDO LLP.