Professor Michael Pettis of Beijing University says investment has spiked back up to 42-44pc of GDP, far surpassing any level ever seen in any major country since the industrial revolution. Other Asian tigers peaked in the low-30s before dropping back as they became richer. Xi Jinping has reverted to the worst pathologies of the old...
Category: Bussiness
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Bank of England will cut interest rates in August, says Goldman Sachs – latest updates
Thanks for joining me. We begin the day with the economic news that has been keenly anticipated by mortgage holders and the Prime Minister. Inflation fell to 2.3pc in April, according to the Office for National Statistics, raising hopes that interest rate cuts will not be far away. 5 things to start your day 1)...
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Rates should be cut to 3.5% by end of 2025, IMF says
UK interest rates should be cut to 3.5% by the end of next year, the International Monetary Fund (IMF) has recommended. Such a move could see the Bank of England cut its key rate by up to seven times from its current level of 5.25%. The IMF’s comments came as it upgraded its UK’s growth...
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Grocery price rises in Great Britain slow as shoppers opt for own-label products
Grocery price inflation in Great Britain has slowed to the lowest level since 2021, while households are still trading down to cheaper products after two and a half years of rapidly rising prices, research has shown. While pressures remain on household budgets, sales of burgers, beer and wine jumped during the bank holiday weekend at...
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Getir quits UK with multimillion pound Tottenham Hotspur debt
Getir, the grocery delivery app which this month confirmed plans to exit the UK, has an outstanding debt to Tottenham Hotspur Football Club running to millions of pounds. Sky News understands that Turkey-based Getir, whose three-year training kit sponsorship deal with Spurs expired at the end of the Premier League season on Sunday, owes close...
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9 out of 10 UK Business Leaders Suffer From Tech Anxiety That Disrupts Their Sleep, BT Study Finds
While rapid digital transformations can result in many business benefits, a new study has revealed that they also take a toll on mental health. Nearly nine out of 10 U.K. business leaders say they suffer from tech-related stress that’s severe enough to disrupt their sleep. BT commissioned a survey of 2,000 business decision makers to...
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Businesses set to benefit as UK concludes tax agreement with Peru and ratifies deal to join major Indo-Pacific trade bloc
UK wraps up key step to joining CPTPP – worth £12 trillion in global GDP upon our entry – by ratifying the terms of our agreement to join the trade group British businesses will benefit from UK’s accession to CPTPP through lower tariffs and fewer barriers to trade UK-Peru Double Taxation Agreement reached which...
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Deputy PM leads largest UK business delegation for over a decade
Deputy Prime Minister leads 450+ strong UK business delegation to Saudi Arabia for flagship summit – GREAT FUTURES Riyadh Supported by lead partners, British Airways and HSBC, the summit will accelerate vital business to business links between the kingdoms £3 billion of ongoing investment in the North East helping to sustain c.2000 jobs in the...
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Brexit freedoms used to slash red tape for businesses
New White Paper raises bar for regulators. Brexit powers deployed to slash red tape for business. Consultation launched on allowing pubs to make al fresco kerbside drinking permanent The Business Secretary is raising the bar for any new business regulations, in the latest step to help British businesses flourish. A new White Paper, published today,...
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UK trade summit in Saudi Arabia accused of promoting firms linked to senior Tories
A UK government trade summit in Saudi Arabia has been criticised for helping to promote businesses linked to a string of senior Conservatives, including peers and the former chair of the party, Ben Elliot. Oliver Dowden, the deputy prime minister, has been in Riyadh this week launching the government-backed Great Futures campaign to promote British...
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UK launches major trade push in Saudi Arabia at Riyadh talks
Five UK ministers will be at the head of a huge British delegation visiting Saudi Arabia this week, as Britain seeks to strengthen trade and cultural ties with the kingdom. Oliver Dowden, the UK’s Deputy Prime Minister, Lucy Frazer, the Culture, Media and Sport Secretary, Dominic Johnson, the Investment Minister and Nick Markham, minister at...
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Riyadh set to host GREAT Futures Initiative Conference
RIYADH: Saudi Arabia’s Tadawul All Share Index wrapped up Monday’s trading session at 12,259.60 points, witnessing an increase of 42.55 points, or 0.35 percent. Nomu, the parallel market, ended the day at 26,859.37 points, shedding 336.56 points or 1.24 percent. Concurrently, the MSCI Tadawul Index grew by 5.34 points to close at 1,535.83, a 0.35 percent increase. TASI reported a trading volume of SR7 billion ($1.86 billion), with 85 stocks making gains and...