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Business

Cost of living: Energy bills for an average household could hit £4,347 a year from April, analysts warn, as universal price guarantee to end

Annual energy bills could reach £4,347 for an average household after the government announced the two-year price freeze will now run for just six...

by admin October 18, 2022
Cost of living: Energy bills for an average household could hit £4,347 a year from April, analysts warn, as universal price guarantee to end
Business

Seven things you need to know about the mini-budget U-turn | Ed Conway

Nearly all the tax cuts announced in the government’s mini-budget are being reversed – here are seven things you need to know about the...

by admin October 18, 2022
Seven things you need to know about the mini-budget U-turn | Ed Conway
Business

Chancellor’s cull of more mini-budget giveaways eases financial market pressures

Financial markets have reacted positively to the new chancellor’s cull of more costly measures in his predecessor’s disastrous mini-budget. Jeremy Hunt revealed in a...

by admin October 17, 2022
Chancellor's cull of more mini-budget giveaways eases financial market pressures
Business

Single fund at asset manager faced ‘knockouts’ without fall in gilt yields

Britain’s financial regulators have identified one remaining fund at an asset manager which would have faced a series of “knockouts” and potential collapse if...

by admin October 17, 2022
Single fund at asset manager faced 'knockouts' without fall in gilt yields
Business

What was in the mini-budget and what has been scrapped?

Just over three weeks ago, then-chancellor Kwasi Kwarteng unveiled his tax-cutting mini-budget to MPs which caused economic turmoil in the UK. Following a dramatic...

by admin October 17, 2022
What was in the mini-budget and what has been scrapped?
Business

Chancellor reverses ‘almost all’ tax cuts in mini-budget and says energy bills support scheme to be scaled back

Jeremy Hunt has revealed he is reversing “almost all” of the tax cuts announced in his predecessor’s mini-budget and is scaling back support on...

by admin October 17, 2022
Chancellor reverses 'almost all' tax cuts in mini-budget and says energy bills support scheme to be scaled back
Business

Pound rebounds in early Asia trading, following Liz Truss U-turn and Jeremy Hunt appointment

The pound has edged a little higher against the dollar in early Asia trading, following PM Liz Truss’s partial reversal of her initial economic...

by admin October 17, 2022
Pound rebounds in early Asia trading, following Liz Truss U-turn and Jeremy Hunt appointment
Business

Unite union boss: Co-ordinated strikes could happen ‘very soon’

Unions are close to organising co-ordinated strike action “very soon” following the “horror story” of the past few weeks, a union boss has told...

by admin October 16, 2022
Unite union boss: Co-ordinated strikes could happen 'very soon'
Business

Trade unions vow to fight government over strike legislation to ‘keep Britain moving’ during strikes

The government is pressing ahead to introduce legislation which will require transport workers to run a minimum service when strikes are taking place. It...

by admin October 16, 2022
Trade unions vow to fight government over strike legislation to 'keep Britain moving' during strikes
Business

Interest rate rise will be higher than expected next month, Bank of England chief suggests

Interest rates will have to be raised higher than initially hoped in the face of inflationary pressures, the Bank of England (BoE) governor has...

by admin October 16, 2022
Interest rate rise will be higher than expected next month, Bank of England chief suggests
Business

Having sealed her chancellor’s fate, the markets could seal the prime minister’s fate

So farewell, then, Trussonomics. The demise of the country’s second shortest-lived chancellor also brings with it the demise of the country’s shortest-lived economic movement....

by admin October 14, 2022
Having sealed her chancellor's fate, the markets could seal the prime minister's fate
Business

Bank of England ceases bond-buying after spending £19.3bn

The Bank of England has purchased £19.3bn of UK government bonds and concluded part of its extraordinary intervention to prevent a collapse in the...

by admin October 14, 2022
Bank of England ceases bond-buying after spending £19.3bn
Business

Government steps up talks to secure gas supplies ahead of winter demand surge

Ministers are in talks with major US-based producers of liquefied natural gas (LNG) in a bid to bolster Britain’s energy security. Sky News has...

by admin October 14, 2022
Government steps up talks to secure gas supplies ahead of winter demand surge
Business

Markets react negatively to Truss speech despite positive response to government U-turn on mini-budget

The financial markets have responded positively to the government’s anticipated U-turn on parts of its massive mini-budget programme of unfunded tax cuts and energy...

by admin October 14, 2022
Markets react negatively to Truss speech despite positive response to government U-turn on mini-budget
Business

Jeremy Hunt made chancellor after Liz Truss sacks Kwasi Kwarteng

Jeremy Hunt has been appointed chancellor after the prime minister sacked Kwasi Kwarteng. Mr Hunt returns to the frontbenches after a few years off,...

by admin October 14, 2022
Jeremy Hunt made chancellor after Liz Truss sacks Kwasi Kwarteng
Business

Royal Mail plans to make up to 6,000 roles redundant by August

Royal Mail has announced it will begin a process to make 5,000 to 6,000 roles redundant by August next year. The announcement, made in...

by admin October 14, 2022
Royal Mail plans to make up to 6,000 roles redundant by August
Business

Bank of England to stop government bond buying scheme today

The Bank of England is set to stop its government bond buying scheme today after attempting to reassure the UK’s financial markets. The Bank...

by admin October 14, 2022
Bank of England to stop government bond buying scheme today
Business

‘Don’t prolong the pain’: IMF criticises UK government for ‘undermining’ Bank of England

The head of the International Monetary Fund has delivered a blunt condemnation of the UK government’s mini-budget – pointing out government and Bank of...

by admin October 13, 2022
'Don't prolong the pain': IMF criticises UK government for 'undermining' Bank of England
Business

Chancellor Kwasi Kwarteng insists he is ‘not going anywhere’ – and hints at mini-budget U-turn

The chancellor has insisted he is “not going anywhere” amid the economic turmoil – and when asked if he was about to do a...

by admin October 13, 2022
Chancellor Kwasi Kwarteng insists he is 'not going anywhere' - and hints at mini-budget U-turn
Business

US inflation falls but still higher than expected

US inflation dropped to 8.2% over the 12 months to September. The US Bureau of Labor Statistics (BLS) said the consumer price index (CPI),...

by admin October 13, 2022
US inflation falls but still higher than expected
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