The UK economy grew 0.2% in July after a 0.6% fall in June, rising 1.1% above pre-Covid levels in February 2020. However, UK GDP growth failed to meet analyst expectations, spelling trouble for the country as the cost of living crisis tightened its grip on household budgets. The Office of National Statistics (ONS) noted GDP […]

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Liz Truss has promised to cap the average household energy bill at £2,500 per year until 2024 in her energy relief plan announced today. The proposal will see the average household save £1,000 compared to the previously scheduled price cap rise of 80% to £3,548 this October. Under the new plan, businesses will receive equivalent […]

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The Pound Sterling picked up in early morning trading on Tuesday following Bloomberg’s report that new Prime Minister Liz Truss had shored up plans for a £130 billion energy relief package for struggling UK households. The Pound rose from 1.15646 just after 06:00 to 1.15894 after Bloomberg broke the scoop, with the Sterling trading at […]

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Liz Truss is set to announce a new £130 billion plan to freeze energy bills for UK households as the cost of living crisis sends costs soaring for families across the country. Bloomberg reported the price tag would be spread over the next 18 months, which would see a new price cap set either at […]

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Liz Truss has been announced as the new Prime Minister and leader of the Conservative party. Truss was elected after weeks of campaigning against former chancellor Rishi Sunak for the position, and was voted in with 81,326 votes against Sunak’s 60,399. The vote reported an 82.6% turnout from an electorate of 172,437 Conservative party members. […]

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The UK government blocked the acquisition of UK group Pulsic by Hong Kong company Super Orange HK on national security concerns on Wednesday. The announcement was made by the Secretary of State for Business, Energy and Industrial Strategy, who prevented the merger under section 26 of the National Security Investment Act 2021. According to the […]

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Energy and Business Secretary Kwasi Kwarteng announced a proposal to provide additional relief for energy intensive industries in a statement released today. Companies with a high rate of electricity usage, such as steel and paper mills, were suggested as contenders for new proposals to subsidise electricity costs under a consultation for the Energy Security Strategy. […]

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The Conservative party lost two seats in the by-election today, losing the Tiverton and Honiton seat to the Liberal Democrat party and the Wakefield seat to Labour. The defeat comes hot on the heels of Prime Minister Boris Johnson’s latest wave of scandal, with the Tories still working to stamp out the flames from ‘partygate.’ […]

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The Consumer Price Index (CPI) rose to 9% in April compared to 7% in March, according to figures reported by the Office of National Statistics (ONS) today. The rise represents the highest 12-month growth since records began in 1997, and is also the highest rate on record for the constructed historical series, which kicked off […]

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The UK employment rate increased by 0.1% to 75.7% over Q1 2022, however the great resignation is still very much in action, with an estimated total of 994,000 workers resigning from their positions for new jobs over the period, according to the Office of National Statistics (ONS). “There’s been a record number of people moving […]

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An estimated 1.5 million UK households are predicted to struggle with energy and food bills higher than their disposable income from 2022-2023, according to a report from the National Institute of Economic and Social Research (NIESR). The institute pointed out the pressure rising prices and higher taxes placed on consumer budgets, with the highest levels […]

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The UK government reported an additional £1.4 billion worth of targeted sanctions against Russia and Belarus in the latest wave of measures to target Vladimir Putin’s conflict in Ukraine. The move was announced on Sunday by International Trade Secretary Anne-Marie Trevelyan and Chancellor of the Exchequer Rishi Sunak. “We are determined to do our utmost […]

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Heathrow expecting pent-up demand for holidays to bring passenger levels up to 21.5m people in 2021 Heathrow Airport has called upon the UK government to open travel to to passengers who have been vaccinated as its pandemic-induced losses reached £2.9bn. Prior to the pandemic, Heathrow was one of the busiest airports in Europe. However, during […]

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IAG calls on government action through four key measures IAG, the owner of British Airways, has announced that it is “ready to fly” and is calling upon the government to implement action to resume international travel. The airline company has called for “travel corridors without restrictions” between specific countries to respond to substantial pent-up demand […]

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UK Government borrowed £19.1bn in February UK Government borrowing hit a record-high in February as a result of the need to support the British economy during the pandemic. In February the UK Government borrowed £19.1bn, the highest figure since 1993 when records began, as well being £17.6bn more than the same month a year ago. […]

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Aerospace and defence manufacturing firm, BAE Systems (LON:BA), watched its shares continue their upward climb on Friday, following the government’s announcement of a £16.5 billion injection into the Defence budget. While in real terms the boost will actually increase the Defence budget by £7 billion (according to the IFS’s Ben Zaranko), that amount is certainly […]

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The Chancellor of the Exchequer, Rishi Sunak has unveiled the latest budget by the government this afternoon. Over the last few weeks, the global population have been trying to combat the ongoing coronavirus epidemic. Since its initial spread, the coronavirus has affected Europe in a manner which is larger than anticipated. Italy seem to have […]

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The coronavirus, those dreaded words that have been the subject of not just British headlines, but global headlines is spreading and at a rate that many did not once anticipate. The virus has been vastly expanding and spreading throughout the world, and reports had surfaced suggesting that UK was now in the light of exposure […]

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Despite pressure from US firms and government, the UK has given Huawei (SHE:002502) the green light to access the majority of its incoming 5G network. The notable caveat of this agreement is that Huawei will be able to use its infrastructure and equipment on all ‘non-core’ areas of the system; such as base stations and […]

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Sirius Minerals Plc (LON:SXX) have been in a state of flux since last August, with the company agreeing a potash supply deal with Brazilian company Cibra, and this week’s announcement that the company are to implement a financial restructure of its potash project in Yorkshire. Sirius’ involvement in Cibra The deal with Cibra outlines a […]

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