UK 'Net Zero' Economy Bucks Recession: Study
Britain's green economy grew in 2023 to buck a broader recession, according to a report released Tuesday that urged politicians heading into a general election to stick with climate-friendly investments.
UK Economy Slides Into Recession Ahead Of Election
Britain is in recession, official data showed Thursday, dealing another blow to embattled Prime Minister Rishi Sunak, whose Conservative party is forecast to lose a general election expected this year.
UK Takes The Lead In Space Sustainability With New Satellite Refuelling Funding
The UK space sector could become a driving force in space sustainability as the UK government announced funding and gave contracts to three space companies to develop in-orbit satellite refuelling technology.
Sticky UK Inflation Stokes Bank Of England Rate-cut Debate
British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank of England's target rate, adding to uncertainty over the timing of an interest-rate cut.
China's Economy Hit By Worst Consumer Prices For The First Time In 14 Years
According to official data published by the National Bureau of Statistics, China's consumer price index fell by 0.8 per cent in January 2024, compared to that of January 2023.
New AI Regulation White Paper Talks of Preparing the UK Economy for Future AI Risks
A new AI regulation white paper has called for strict changes AI regulatory framework including supporting UK regulators with £100 million in funding to develop technical systems to monitor AI systems.
'The Repercussions Affect Us The Most': Youngsters Say What They Really Think About Brexit
Those who were unable to vote when the Brexit referendum was held in 2016, now aged 19 to 21 years old, revealed to International Business Times UK how the independence scheme has changed their lives.
New Net Zero Funding for UK Businesses in Non-Industrial Areas Announced
The UK government is helping UK businesses across various sectors to make the net zero switch to green energy with a new net zero funding announcement of £190 million to 12 projects.
Around 85% of UK Travellers Changed Plans Due To Cost-of-living Crisis in 2023
A new study revealed how the UK hospitality industry can use personal touch coupled with technology like AI and automation to lure UK travellers to rebook the same hotels in the cost-of-living crisis.
UK Inflation In Shock Rise, Dashing Rate Cut Hopes
British annual inflation unexpectedly picked up in December, data showed Wednesday, dashing hopes of an early cut to UK interest rates and prolonging a cost-of-living squeeze before an election.
Bank of England Faces Pressure to Adjust Interest Rates as Inflation Forecasts Take a Surprise Turn
Three prominent forecasters – Oxford Economics, Investec, and Deutsche Bank – have issued updates indicating a potential halving of the inflation rate to two per cent by April, forcing the Bank of England (BoE) to reconsider its timeline for the first interest rate cut.
UK Retail Landscape Faces Challenges as December 2023 Sales Slow Down
The total UK retail sales for the month showed a growth of 1.7 per cent, marking a substantial decline from the 6.9 per cent recorded in December 2022.
UK Government Says Nature Fund Added Over 2,500 Green Jobs to the UK Environment Sector
The UK government has revealed how its Green Recovery Challenge Fund helped add more green jobs and saved hectares of land across the UK through 150 environmental projects.
Homelessness Soars In Rural England As Living Costs Hit Poor
Homelessness in rural England has risen by 40 percent in five years with many sleeping in the open air, tents or makeshift shelters, a British rural charity said on Tuesday.
UK Inflation Hits Lowest Level In More Than Two Years
British inflation has slowed sharply to the lowest level in more than two years on falling petrol prices, official data showed Wednesday, easing a cost-of-living crisis after aggressive interest-rate hikes.
UK Household Financial Struggles Soar Amid Cost-of-Living Crisis
The latest research from the consumer group Which? unveiled that 9.8 per cent of surveyed households admitted to missing or defaulting on payments for loans, credit cards, housing, or household bills during that period.
Tories Slammed For Brexit After Bank of England Says It Has 'Chilled' UK Economy
The financial impacts of Brexit have left UK business investment levels "chilled", according to the Deputy Governor of the Bank of England.
Rishi Sunak's Decision to Scrap Free NHS Prescriptions Draws Criticism for Impact on the Most Vulnerable
Sunak is scrapping free NHS prescriptions that have been a vital lifeline for individuals with chronic conditions, low-income families, and the elderly.
Jeremy Hunt Announces Significant Tax Cut Amidst Downturn in Growth Forecast
Hunt defended the move, asserting that it aligns with the government's commitment to supporting businesses and individuals during challenging times.
UK Unveils Voter-friendly Budget With Election On Horizon
Britain's Conservative government launched plans Wednesday to stimulate growth and woo voters for the next general election, delivering a massive tax-cut sweetener for workers but also forecasting sharply lower growth and stubbornly high inflation.
Hospitality Workers Are Increasingly Optimistic Despite The Negative Impacts Of Brexit
The Business Confidence Survey reveals that hospitality leaders in Britain are becoming increasingly optimistic despite the challenge of Brexit business rates and inflation.
Arbitration Bill To Make UK A Global Leader in Legal Business Disputes Handling
The UK government has sought to change the £2.5 billion worth of British arbitration services through an Arbitration Bill, which seeks to modernise the procedure better to resolve legal disputes for businesses.
What Are The Best European Countries For Digital Nomads?
In a bid to help the economy recover from the financial effects of COVID-19, European authorities have welcomed remote workers through the digital nomad visa.
UK Inflation Falls Sharply, Relieving Pressure On PM Sunak
UK inflation hit the lowest level in two years last month after consumer prices fell sharper than expected on easing energy bills, official data showed Wednesday, relieving a cost-of-living crisis and pressure on embattled Prime Minister Rishi Sunak.
October UK Retail Sales Drop Triggering Recession Worry in the UK Economy
UK retail sales growth declined in October as UK consumers are cautious of spending and saving for Christmas amidst the cost-of-living crisis which has sparked a recession for the UK economy.
HSBC Expresses Concerns About UK's Economic Outlook Despite a 240% Rise in Profits
HSBC, headquartered in London but primarily focused on the Asian market, announced pre-tax profits of $7.7 billion (£6.4 billion) for the third quarter spanning from July to September.
UK Economy at Risk of Recession as Business Activity Declines and Cost Pressures Ease
The preliminary reading of the S&P Global UK PMI for the services sector, often referred to as the "flash" PMI, fell to 49.2 in October from 49.3 in September.
UK Space Agency Makes Satellite Data Available To UK Companies To Transform Britain Into Space Economy
UK companies across various sectors like finance, logistics and transport can now use satellite data for their benefit as the UK Space Agency is opening it for business use.
Ex-Treasury Secretary Hints that the Pain of Osborne's Austerity is Still Being Felt Today
As Britain grapples with a cost of living crisis, the deeper fissures in the economy, including inadequate education and training spend, are more evident than ever.
Labour Strikes a Confident Note in Liverpool Despite the News of Turmoil in the Middle East
Rachel Reeves was in the limelight in Liverpool, described as the would-be "first female Chancellor ever in Britain", and also the "best qualified".