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.
Bank of England Contemplates Earlier Interest Rate Cut Amidst Forecasts of Decreasing Inflation
Three prominent forecasters, including Oxford Economics consultancy, Investec, and Deutsche Bank, have revised their outlook for inflation in 2024.
Stock Markets Hesitant Ahead Of Inflation Data, Earnings
Global stock markets drifted on Wednesday, the eve of the release of key US inflation data and the start of the latest earnings season.
New US Labor Rule May Help Gig Workers Qualify As Employees
A rule issued Tuesday by the US Labor Department making it tougher for companies to classify workers as "independent contractors" could take a toll on the gig economy -- and is likely to face challenges.
Doctors In England Defend Starting Longest Strike In NHS History
Junior doctors in England on Wednesday defended a decision to start their longest consecutive strike in the seven-decade history of Britain's National Health Service (NHS).
UK Grocery Inflation Stays At 4.3% Despite Decline in Food Prices
The introduction of new border checks on EU goods in April entering the UK could lead to further spikes in UK grocery inflation.
The 2024 Forecast for Retail Industry: 'It is going to get worse'
Projections released by Think Tank suggest that consumers are likely to maintain a cautious approach to spending in the initial months of 2024.
FC Barcelona Could Be Banned From Champions League For Three Years Over FFP Violations
The club is at odds with UEFA over alleged violations of financial fair play regulations.
Manchester United Won't Trigger Buy Option, Will Send £21.4M Midfielder Back To Italy: Details
Manchester United recently drew 0-0 against Liverpool at Anfield.
NHS Strikes Continue Amid Plans For A Six Day Walkout In January
While the government's wage increase was accepted earlier this year, NHS employees have planned to intensify the strike actions across the UK.
Part-time and Shift Workers Face Holiday Pay Cut of £248 Million Due to UK Rule Change
The UK rule change, which comes into effect next month, has raised concerns among workers and labour advocates, prompting reconsideration of the decision.
IKEA Invests £35 Million in UK Co-workers' Financial Wellbeing Amidst Market Challenges
The retail giant plans to achieve this by implementing a series of measures, including pay increases aligned with the true cost of living and year-end bonuses tied to the company's FY23 performance.
Global Stocks Mixed As US Crude Prices Slips To Five-month Low
Global stocks were mixed Tuesday as investors digested data suggesting a slowing US labor market, while US crude prices sank to a five-month low amid lingering concerns about demand.
UK Government Unveils Sweeping Immigration Changes, Sparking Concerns in Key Sectors
The measures intended to address concerns over immigration levels, particularly in the healthcare sector, include a substantial increase in the minimum salary requirement for skilled worker visas and the elimination of the 20 per cent discount for essential professions.
UK Announces Limits On Regular Migration As It Tries To Turn Polls Around
Britain's embattled Conservative government unveiled a raft of measures Monday aimed at cracking down on record levels of migration -- a key battleground in a general election expected next year.
Employing Young People Could Save The Hospitality Sector From A Staffing Crisis
After Brexit, around 92,000 EU workers left the hospitality sector to return to their home country, leaving hospitality leaders pushing vacancies onto young people.
Tesla's Musk Says Fallout From Sweden Strike 'Insane'
Tesla chief executive Elon Musk broke his silence Thursday on a strike against his company in Sweden, saying it was "insane" that it may block new car deliveries.
Gender Pay Gap for UK Women Aged 40 and Over Predicted to Persist Until Retirement
The gender pay gap in earnings reflects economic inequality about older women entering retirement with lower accrued earnings.
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.
Government Issue Huge Pay Increase As A Step Towards Ending Poverty In The UK
The National Living Wage will increase in 2024 to end low hourly pay for full-time workers and those hit hard by the cost of living crisis across the UK.
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.
Kingfisher Faces Profit Woes Amid French Market Struggles as UK Flourishes on 'Improve Not Move' Trend
The company's stock saw a sharp decline of six per cent, marking it as the top faller on the FTSE 100. The underlying issue, as Kingfisher explained, stemmed from ongoing weaknesses in their French market.
Latest Manchester City Revenue and Profit Figures Showcase Increased Dominance Off The Pitch
The 2022/2023 financial year has shown last season's treble winners, Manchester City, to eclipse rivals Manchester United in Premier League revenue records.
MPs Push For School Curriculum To Include Compulsory Financial Education
MPs have launched an inquiry that sets out to teach all students – aged 11 to 16 – about money management amid the cost of living crisis.
Inflation, Higher Rates Hit Eurozone Growth Outlook
The European Commission on Wednesday lowered its eurozone growth forecast for 2023 and 2024, saying the high cost of living and interest rates were weighing on consumers and businesses.
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.
Cumbria Is Fighting Staffing Crisis In Hospitality And Tourism Sector With Over 200,000 Unemployed
While 80 per cent of Cumbria's population said that they did not want a job, MPs and CEOs are fighting to save its hospitality and tourism sector from crashing.
UK Inflation Plunges to Lowest Figure in 2023 At 4.6% as Sunak on Track to Meet Annual Target
In September, inflation stood at 6.7 per cent, as many people across the UK continue to struggle with the cost-of-living crisis.
UK Ministers Urged to Expand Financial Support for Cost of Living Crisis
With the cost of household gas and electricity remaining notably elevated, the cost of living crisis continues to plague Britons.