UK inflation remained steady in June despite a significant rise in hotel prices, according to the latest official figures. While prices in restaurants and hotels increased, sharp declines in clothing costs, driven by widespread retailer sales, helped offset these gains. Overall, inflation held at 2% for the year to June, unchanged from May. This indicates […] More
UK inflation remained at the Bank of England’s target of 2% in June, marking the slowest rate of price increases in nearly three years. The annual rise in prices, unchanged from May, was partly influenced by higher hotel prices, according to official figures. However, persistent price increases in services, including restaurants and hairdressers, may prompt […] More
HSBC has appointed Georges Elhedery as its new chief executive, tasking him with navigating the bank through growing tensions between the West and China. Elhedery, who has served as chief financial officer since early 2023, will take over from Noel Quinn on September 2. Quinn’s unexpected announcement in April of his decision to step down, […] More
As Amazon Prime Day kicks off for summer 2024, shoppers are flooding the platform in droves to seize the best and most affordable deals before the event concludes on Wednesday, July 17. Prime Day has evolved into a significant shopping event over the years, offering deep discounts on a wide range of products including tech […] More
Temperatures hotter than those forecast for Ibiza are set to sweep London this Friday, bringing sunshine back to the capital after a largely grey couple of weeks. The Met Office predicts temperatures will reach 30°C as London basks in the sun. This is hotter than Ibiza, which is expected to reach 28°C, and on par […] More
An employer has been ordered to pay more than £26,000 to a former employee for deliberately coughing in her face during the Covid pandemic. Kevin Davies, the father of Wales rugby player Gareth Davies, aimed to “ridicule and intimidate” the woman over her health concerns, a tribunal heard. Davies, 62, mocked the employee of his […] More
The potential new owner of Royal Mail has pledged to maintain the requirement to deliver letters throughout the UK six days a week. Czech billionaire Daniel Kretinsky, whose £3.6bn offer for Royal Mail has been accepted by its board, assured the BBC, “As long as I’m alive, I completely exclude this.” Shareholders are expected to […] More
Ofwat announced it has opened enforcement cases into four more firms as part of its investigation into utilities’ management of wastewater treatment works. The investigations have been opened following a “detailed analysis” of companies’ environmental performance and how often they spill wastewater from storm overflows. It was this analysis that “heightened Ofwat’s concerns” that the […] More
Bitcoin surged on Monday after an assassination attempt on Donald Trump, as traders speculated on the former president’s chances of winning the upcoming US presidential election in November. Following the incident, where Trump was injured in the ear by a gunman at a campaign rally, the price of bitcoin rose over 10 percent to $63,595, […] More
Economists have cautioned that Labour requires a “growth miracle” to finance its public service ambitions ahead of the King’s Speech. Experts have expressed skepticism about the new Government’s capacity to significantly boost the economy, anticipating a continuation of the sluggish growth seen since the global financial crisis. According to Bloomberg’s monthly survey of 56 forecasters, […] More