Lydia Amazouz
Bank of England Reports a 50% Surge in Mortgage Balances with Arrears
According to the Bank of England, the level of outstanding mortgage balances with arrears surged by over 50% in 2023’s fourth quarter in comparison with a year earlier. Bank of…
Wage Growth Slows while Unemployment Edges Up
New data reveals that wage growth fell slightly short of expectations, pointing to a growing impact of the Bank of England’s interest rate increase on the broader economy. UK Wage…
New UK Visa Laws to Cut Migration and Combat Exploitation in Care Worker Sector
New UK visa laws are now in effect, aiming to limit care workers from bringing their relatives, while caregivers who are sponsoring migrants are asked to register. New UK Visa…
UK Grants Approval for Bitcoin and Ethereum ETNs for Professional Investors
The UK’s Financial Conduct Authority (FCA) is granting permission to professional investors to start issuing crypto-backed exchange-traded notes (ETNs). The UK Approves Bitcoin and Ethereum ETNs for Professional Investors…
Decline in Job Vacancies Hits Fastest Pace in the UK as Companies Restrict Hiring
Job vacancies in the UK have dropped to their lowest in three years as recruiters delay or suspend their hiring processes. A situation that considerably impacts the country’s economy, already…
Budget Adjustments Boost Child Benefit, Meaning More Cash for Families
High earning parents are the biggest beneficiaries of the latest budget adjustments, as the chancellor announced a major restructure of a tax penalty that is set to have an impact…
Sunak’s Government Urged to Rise Defence Spendings in Uncommon Intervention
Two serving ministers with strong expertise in defence and security have sounded the alarm about the growing concerns among conservative MP’s and military insiders as the Chancellor failed to announce…
Will UK Government’s Railway System Failures Lead to More Strikes?
According to a scathing assessment by the government’s spending watchdog, the UK’s ambitious plans to overhaul its weakening railway system are encountering significant delays, marked by a failure to achieve…
Sterling Hits Highest Level Since August Despite Fed and ECB Rate Cuts
In Thursday’s London session, the pound sterling (GBP) shows resilience versus the US dollar as traders anticipate that the Bank of England (BoE) would follow the Federal Reserve (Fed) in…
Manchester Airport Increases Fees for Select Flights
Manchester airport flights are set to experience a price rise, following the Chancellor’s budget announcement of a surge in air traveller duty to assist fund larger reductions to National Insurance.…
Sunak Warned: Unfunded National Insurance Cut Risks Harming Services
Rishi Sunak cautioned against campaigning on an unfunded proposal to eliminate employee national insurance, as it could create a £40 billion deficit in public finances, according to projections. Sunak Faces…
UK House Prices Approach 2022 High with 5th Monthly Rise
According to the latest data from Halifax, UK house prices have experienced a 1.7% annual surge, bringing the average cost of a UK house remarkably close to the peak recorded…
OBR Expects Inflation Below 2% In a Few Months
The Office for Budget Responsibility (OBR) anticipates a notable economic development as inflation is projected to dip below the government’s 2% target in the coming months. OBR Forecasts Inflation Dip…
Household Incomes set to Decline, Thinktank Predicts
In evaluating Jeremy Hunt’s budget, the Resolution Foundation Thinktank reveals a historic downturn in household incomes throughout a parliamentary term, despite the Chancellor’s insurance cuts. Thinktank Warns of Falling Household…
Will Bitcoin Ever Break its All-Time High?
With the cryptocurrency market ablaze, Bitcoin is seizing the spotlight once again, surging past $67,000 for the first time in years. After a period of dormancy, the pioneer cryptocurrency has…
Budget 2024: Jeremy Hunt Announces National Insurance Reform with 2% Cut
Jeremy Hunt’s recent Budget 2024 announcement includes a strategic manoeuvre: a 2p reduction in national insurance rates. This decision aims to boost both his declining approval ratings and revitalize the…
UK Construction Downturn Shows Signs of Relief, Yet Job Losses Accelerate
Last month, the UK construction industry showed glimpses of stability, offering a glimmer of hope after enduring more than two years of turbulence, according to a recent survey. Despite this…
Gold Reaches Record High: Exploring Profitable Investment Strategies
The value of gold has surged to a new record high as investors seek refuge in safer assets amidst looming worldwide economic instabilities and geopolitical tensions. Record-Breaking Surge in LBMA…
UK New Car Sales Hit 20-Year High in February
UK new car sales have surged to their highest level in twenty years this February, marking a significant milestone in the automotive sector. Corporate entities have played a pivotal…
Mortgage Reforms: UK Building Societies Claim Exclusion of First-Time Buyers
Building societies are raising alarm bells over the unintended consequences of mortgage reforms implemented in the wake of the 2008 banking crisis. They argue that these reforms, initially aimed at…
Elon Musk Sued for $128M by Ex-Twitter Executives Over Unpaid Severance
Former Twitter executives have launched a $128 million lawsuit against Elon Musk, accusing the prominent tech figure of neglecting to compensate them for severance following his acquisition of the social…
UK Retail Sales Decline Amidst Wet Weather as Shoppers Opt for Indoor Activities
In February, the combination of wet weather and persistent cost of living challenges significantly dampened retail sales, leading to a meagre growth rate of just 1%. Many households opted to…
Apple’s Valuation Plummets by $78 Billion Following EU Fine
Apple faces a substantial setback as its market value plunges by over $78 billion (£61bn), responding to a €1.8bn (£1.6bn) fine imposed by the European Union. Apple Faces Market Turbulence…
Heathrow Strike Threat: Easter Travel Disruption Looms
Border Force workers at Heathrow Airport are on the brink of striking, posing a significant threat to Easter travel plans. The potential strike stems from their resistance to proposed changes…
Used Car Prices Hold Steady, While New Vehicle Sales Face Continued Pressure, Says Vertu
In the five months leading up to January 31, the car dealership group observed a steady trend in used car prices, with a 0.8% increase in sales by volume. However,…
Jeremy Hunt Hints at Tax Cuts in Budget 2024
As the eagerly anticipated Budget announcement approaches this Wednesday, Jeremy Hunt has dropped hints suggesting a potential introduction of tax cuts. This strategic move, if implemented, could have significant implications…
London Overground Workers Secure £5,000 Pay Increase Following Strike Threat
Amidst the spectre of a potential strike, workers on the London Overground have successfully negotiated a three-year pay deal. The agreement includes significant pay hikes, particularly benefiting the lowest-paid employees,…
Rents Surge in Commuter Towns Amidst Unaffordable Cities, Research Reveals
Recent research highlights a surge in rents in commuter towns, driven by the increasing unaffordability of urban areas. As cities grapple with a growing affordability crisis, tenants are turning to…
Train Ticket Costs to Increase by 4.9% in England and Wales Starting This Sunday
Commuters in England and Wales brace themselves for a notable change in their daily expenses, with rail fares set to increase by 4.9% starting this Sunday. This rise in…
Elon Musk Takes Legal Action Against OpenAI, Seeking Refund
Elon Musk has taken legal action against the prominent A.I. start-up, alleging that its focus on profits and commercial interests has overshadowed its primary mission of contributing to the betterment…
Energy and Mining Stocks Propel UK Shares Higher Amidst Soaring Oil Prices
In a significant market development, UK shares witnessed a substantial rise, driven by the robust performance of energy and mining stocks. The notable surge in these sectors can be attributed…
Bank of England Economist Indicates Interest Rate Reductions Remain at a Distance
The Bank of England’s chief economist recently emphasized that a cut in UK interest rates is not on the immediate horizon. Huw Pill’s Cautionary Notes on UK Economy and Potential…
IAG, Owner of British Airways, Achieves Record Profits Amidst Leisure Travel Surge
International Airlines Group, the parent company of British Airlines, announced historic annual profits, capitalizing on the renewed demand for travel, particularly from leisure passengers opting for premium economy and business…
Britain’s State Pension System on the Brink of Crisis
The impending challenge of funding a substantial wave of retirements has grown too significant to overlook. As the ageing population increases, the strain on state pension systems becomes an undeniable…
March 2024: Key Dates for Pensions and Allowances
In the wake of the UK’s confirmed recession and persistent cost of living challenges, low-income families are grappling with financial strain. Research from the Joseph Rowntree Foundation reveals alarming levels…
UK’s Economy Hit as International Student Numbers Decline by a Third
Imposed immigration restrictions on international students are raising concerns among university leaders, who predict potential damage to the UK’s economy. The enrolment of overseas students has witnessed a significant drop…
UK Property Sales Expected to Surge by 10% Amidst Buyer and Seller Resurgence
Online property platform Zoopla has unveiled optimistic figures, indicating a robust trajectory for UK property sales. Projections suggest the market is poised to achieve approximately 1.1 million transactions throughout…
Bitcoin ETFs Smash Records: Daily Volumes Surge to New Heights
Bitcoin ETFs have once again shattered previous records as demand continues to surge. On Tuesday, the nine Bitcoin ETFs achieved a remarkable daily trading volume of $2.6 billion, marking a…
PlayStation Cuts 900 Jobs in 8% Workforce Cut
Sony’s PlayStation division is making a bold move with plans to lay off 900 workers, constituting an 8% reduction in its workforce. Motivated by industry changes and a commitment to…
Skyrocketing Sick Days Threaten UK Economy with Staggering £66 Billion Blow
Britain braces for a looming financial blow as a surge in sick days is predicted to incur a staggering cost of £66 billion by the decade’s end, sounding alarm bells…
Pensioners Struck by Startling £55,000 ‘Emergency’ Retirement Tax
Pensioners have encountered an unforeseen financial setback, as newly disclosed figures reveal the imposition of an “emergency” income tax bill, reaching as high as £55,000 for some individuals, subsequent to…
Tax Hike Alert: IFS Warns of £100 Billion as Immigration Surge Strains Britain’s Public Finances
The Institute for Fiscal Studies (IFS) has warned that Chancellor Rishi Sunak’s recent fiscal measures targeting workers and businesses are projected to result in an additional £100 billion in taxes…
UK Food Price Inflation Drops to Nearly Two-Year Low Amid February Dip
UK food price inflation reached its lowest rate in two years due to declining energy costs and intensified competition among supermarkets, providing relief for households amidst stretched budgets. Moderate Food…
UK’s Net Zero Economy Surges with 9% Growth in 2023, Report Reveals
A report reveals that the UK‘s net zero economy experienced a notable surge of 9% in 2023, in stark contrast to the marginal 0.1% growth observed in the overall economy.…
Red Sea Attacks Cause Severe Delays and Soaring Costs, Firms Sound Alarm
UK businesses are grappling with increased shipping expenses and delays of up to four weeks, attributed to Red Sea attacks, according to a statement from a prominent business group. The…
Public Services at Risk: Economists Warn of Planned Spending Cuts
As Chancellor Jeremy Hunt readies for another round of tax reductions in next week’s budget, economists caution that Britain’s extended public services will bear the burden of post-election spending cuts.…
New Visa Salary Rules: Local Workers to Face Lower Pay Than Migrants
Lawyers cautioned that under the upcoming new visa salary rules, UK workers face the potential of earning lower salaries than their foreign counterparts while performing identical job activities. This concerning…
Employment Opportunities Plummet as Interest Rate Impact Takes Hold
Employment opportunities have declined significantly, experiencing a notable 15% drop. This downturn comes amidst a backdrop of escalating borrowing costs and a broader economic recession within the UK. Employment Opportunities…
Bank of England’s Policies Pose Risk of Plunging Britain into Depression
The most influential banks globally are expressing scepticism about the Bank of England’s macroeconomic assessment. A concerning proportion believes that the Monetary Policy Committee has misinterpreted global developments and is…
UK Train Strikes: February and March 2024 Affected Dates and Lines
As February approaches its end, commuters face disruptions in rail services due to planned train strikes and an overtime ban by Aslef on Northern Rail and LNER services. Navigating the…
