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.
Data reveals 4 in 10 women entrepreneurs in the UK struggle with insufficient cash flow
Recent research has revealed gender disparities among small business owners in the UK, particularly when it comes to cash flow.
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.
Joe Biden announces $39 billion student loan debt forgiveness
Education Department aims to forgive student loans for 800,000 borrowers due to administrative errors, with changes made to income-driven repayment plans.
Bank of England warns of rising mortgage payments and potential struggles for UK households
The Bank of England warns that nearly one million UK households will face higher mortgage payments due to rising interest rates, potentially impacting financial stability.
UK lenders can withstand major shock: Bank of England
Britain's top lenders have passed stress tests to show they can withstand major economic shock, even as rising interest rates pressure the financial system, the Bank of England said Wednesday.
Stock markets jump as US inflation cools
Stock markets bounced on Wednesday as data showed US inflation cooled more than expected in June, raising hopes that the Federal Reserve will soon end its cycle of interest rate hikes.
Study reveals funding shortage forces UK SMEs to halt operations
A study by Manx Financial Group reveals that a significant number of UK SMEs have been forced to reduce or halt their operations due to a lack of funds.
Stock markets rise on China support, pound rallies
Major stock markets mostly rose Tuesday as China moved to boost its flagging economy, while the pound hit a 15-month high against the dollar on expectations of more aggressive UK interest rate hikes.
UK unemployment climbs as inflation weighs on economy
UK unemployment rose back to four percent in the three months to the end of May, official data showed Tuesday, as the economy struggles with stubbornly-high inflation.
Recent data reveals UK leads G7 nations in April export growth
UK outperformed other G7 nations' export growth in April with a 5.86 per cent increase to over $38 billion, surpassing Japan's 2.52 per cent gain, according to ParcelHero.
Climate finance summit wraps up eyeing bigger progress
A global summit seeking to overhaul the international financial system wraps up Friday after taking small steps towards easing the debt burden of developing nations weighed down by climate and economic crises.
Ford-backed electric battery venture approved for $9.2bn US loan
Biden has supported heavy public investment in such initiatives to address climate change and bolster US manufacturing.
Interest rate hike heaps pressure on cash-strapped Britons
Millions of Britons are facing fresh mortgage misery after the Bank of England increased interest rates by an unexpected half-point, putting homeowners at risk of higher repayments on their loans during a cost-of-living crisis.
Stocks dip as Fed chair Powell warns of more 'moderate' rate hikes
Wall Street stocks fell after US Federal Reserve chief Jerome Powell warned Wednesday of further interest rate hikes, while European markets slid after a stubbornly high inflation reading in Britain.
World Bank aims to expand Ukraine aid for energy, transport projects
The World Bank is looking to enhance aid to Ukraine for urgent repair projects in the transport, energy and housing sectors, the bank's director for operations Anna Bjerde said on Tuesday ahead of the Ukraine Recovery conference in London.
UK unveils $3bn backing for Ukraine reconstruction
The UK will back Ukraine's economy to the tune of $3 billion over the next three years while it fights back against Russian forces, Prime Minister Rishi Sunak announced on Tuesday.
HSBC unveils £15 Billion SME Fund to empower UK businesses
HSBC has unveiled a groundbreaking initiative with a £15 billion financing fund to improve market access and foster the growth of SMEs.
Growing demand for shared banking hubs as 39% of people can't manage accounts online
According to the report, three out of four persons above the age of 65 prefer to do at least one bank transaction at their branch and aren't comfortable going fully online despite the rising phenomenon of banking deserts in the country.
HSBC makes a comeback in the mortgage broker market with adjusted rates
HSBC's return to the mortgage market amid rate adjustments reflects a turbulent landscape and changing economic conditions.
High inflation rattles UK home loan market
Britain's retail lenders are withdrawing fixed home-loan products, as elevated inflation sparks fears of more Bank of England interest rate hikes and worsens the cost-of-living crisis.
UK businesses prepare for turbulence as government raises interest rates
Despite narrowly escaping a technical recession late last year, the UK economy finds itself on fragile ground as
high-interest rates loom.
'No victory yet', ECB says as inflation slows in key countries
The ECB has hiked interest rates by an unprecedented 3.75 percentage points since last July in an attempt to rein in rapidly rising consumer prices.
The new pandemic? Mental health issues driving the rise in persistent absences from school
Despite the World Health Organisation declaring the pandemic over, its effects are still felt today, with a death toll totalling over 226,000 in Britain alone.
How to Enjoy Casino Games in a Responsible Way
Maintaining responsible behaviour while enjoying casino games, emphasising self-control, setting limits, and maintaining a healthy mindset to mitigate potential risks associated with gambling are all crucial in the sport.
VOA launches online consultation to improve British business rates system
Online consultation set to revolutionise business rates system, prioritising fairness, transparency, sensitive data identification and information sharing.
Bank of England lifts interest rate to 15-year high
Global policymakers are battling elevated inflation caused largely by runaway energy bills following last year's invasion of Ukraine by major oil and gas producer Russia.
UK interest rates raised for 12th time in a row to highest level for almost 15 years
UK interest rates have been raised for the 12th time in a row in a further attempt by the Bank of England to slow the rising cost of living, increasing the Bank's base rate from 4.25 to 4.5 per cent.
Recent data reveals global new vehicle market falls by 2% as declines occur in North America, China and Europe
New data by JATO Dynamics reveals an overall drop in vehicle registrations worldwide whilst nations such as India and South Africa have increased registrations.
US senators launch renewed push to thwart China
Relations between Beijing and Washington have been declining steadily for years, with the rivals locking horns over trade, human rights and the origins of Covid-19.