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 food and drink sector expected to reach £315.2 billion by 2028
The UK food and drink sector is projected to reach £315.2 billion by 2028, a 19 per cent increase from 2023, according to IGD.
UK consumer spending patterns revealed in recent report by Barclays
Inflation forces Brits to reduce discretionary purchases as consumer card spending grows in March. However, pubs and clubs flourished during the coronation weekend.
Four MPs have been ordered to repay hundreds in misrepresented driving fines
Sir Alastair Graham stressed that MPs should not be seen by the public as having special privileges.
How a Woman Turned £129 a Week into Two Months of Free Groceries with Cash Back Rewards!
A busy mum saved money and earned cash back rewards on her grocery shopping by using a debit card, ultimately getting two months of free groceries after over a year.
Many UK businesses should adopt AI over the next year, according to research
By investing in AI, UK businesses can gain a competitive edge, allowing them to stay ahead of the curve and remain relevant in an ever-evolving digital age.
How is the UK's rising inflation impacting the cost of living crisis?
The Office for National Statistics reported that the "prices of food and non-alcoholic drinks rose at the fastest rate in more than 45 years in the 12 months to February 2023."
IMF flashes financial risk warnings but urges continued inflation fight
The International Monetary Fund warned on Tuesday that lurking financial system vulnerabilities could erupt into a new crisis and slam global growth this year, but urged member countries to keep tightening monetary policy to fight persistently high inflation.
As footfall takes a dive, restaurants say energy bills will crush them
The hospitality sector says energy price hike of £7.3 billion is unsustainable in the wake of reduced government support, as it also faces reduced consumer spending
UK household debt surpasses £2 trillion amid soaring cost of living
Household debt exceeds £2 trillion for the first time in UK history. As consumers struggle with the skyrocketing costs of living, financial literacy hits rock bottom.
UK Workers remain divided over Hunt's Spring Budget announcements, new survey shows
A recent survey reveals that the UK workforce is divided over Jeremy Hunt's Budget announcements, with the CEO of CV-Library stating that "personal finances remain the key driver for the overwhelming majority".
Australia central bank tempers hawkish outlook after hiking rates to over decade high
Australia's central bank raised its cash rate to the highest in more than a decade on Tuesday, but suggested it might be nearly done tightening as consumer spending was slowing and there was less risk of a wages-driven inflation blow-out.
UK's Hunt has extra 30 billion pounds to play with in March budget, IFS says
British finance minister Jeremy Hunt may have a 30 billion-pound ($36 billion) windfall at next month's budget, but this will be too short-lived to fund permanent tax cuts or public-sector pay rises, the Institute for Fiscal Studies (IFS) said on Tuesday.
German economy shrinks 0.4% in fourth quarter, weak start to 2023 seen
The German economy contracted more strongly than expected in the final three months of 2022, as inflation and the energy crisis took their toll on household consumption and capital investment.
Gas prices are falling but your energy bills still won't be affordable any time soon
At the end of last year, National Energy Action warned that by April 2023 8.4 million households would be in fuel poverty.
Analysis-To raise prices or not? Consumer goods makers weigh bets on buyer strength
Prices of everyday basics like Bounty paper towels and Cadbury chocolate may rise again this year while those of others like Clorox Co wipes and Diet Pepsi are likely to stay steady.
Aussie supermarkets set to capitalise on high inflation, but softer demand ahead
Australian supermarkets will reap bigger profits in fiscal 2023 half-year due to decades-high inflation and increased savings, but analysts warned of a rough second-half as households reel from mounting expenses due to higher cost of living.
Video conferencing star Zoom cuts staff by 15 percent
Zoom Video Communications chief executive Eric Yuan is also taking a 98 percent cut in salary this year.
Eurozone dodges recession but gloomy outlook persists
The eurozone economy showed greater resilience than expected after avoiding a recession in the fourth quarter of 2022, official data showed Tuesday, but the outlook remained gloomy as soaring prices dampen growth.
UK grocery price inflation surges to record 16.7% - Kantar
British grocery inflation hit a record 16.7% in the four weeks to Jan.
UK economy posts surprise growth in November: data
Britain's economy unexpectedly grew in November, official data showed Friday, but it is widely tipped to enter recession this year as the country faces a cost-of-living crisis.
UK economy wins World Cup boost but recession looms
Britain's economy unexpectedly grew in November as consumers splurged during the World Cup, official data showed Friday, but analysts warned that it remains on course for recession due to the cost-of-living crisis.
Christmas fizz prompts UK's Sainsbury's to lift profit guidance
Sainsbury's, the first listed British supermarket to update on Christmas trading, forecast full-year profit at the upper end of its guidance after shoppers spent more than expected on festive treats despite a deepening cost-of-living crisis.
UK curbs energy bill support for businesses
The Energy Bill Relief Scheme offers help for businesses, the public sector and charity organisations.
After Christmas relief, UK retailers face 2023 reality check
Updates next week from Britain's biggest retailers including Tesco, Sainsbury's and Marks & Spencer are expected to confirm that while Christmas was not the disaster that some had feared, consumer demand is set to weaken in 2023, denting profit.
Big fall in euro zone inflation offers little help for ECB
Euro zone inflation tumbled last month but underlying price pressures are still rising and economic growth indicators are surprisingly benign, suggesting that the European Central Bank will keep raising interest rates for months to come.
UK economy was G7 growth laggard in Q3 as dismal 2023 beckons
Britain's economy contracted more than first thought in the third quarter of this year, putting it bottom among the Group of Seven major advanced nations ahead of what is shaping up to be a dismal 2023, data showed on Thursday.
Universal free school meals would make a huge difference to the cost-of-living crisis – here's how
Universal free school meals would put money back in the pockets of parents who are either currently purchasing school meals or preparing packed lunches.
Grinding inflation clouds 'Black Friday' shopping bonanza
Earnings reports from retailers in recent days have painted a mixed picture on consumer health.
Inflation swells Spain's 'hunger queues'
With a secure job as a bricklayer, Hugo Ramirez never thought he would need the help of charity to feed his family.