The UK economy experienced a stronger-than-expected growth in May, driven by robust performances in the retail and construction sectors. According to the Office for National Statistics (ONS), the economy expanded by 0.4%, recovering from stagnant growth in April, which had been affected by wet weather that discouraged shopping and hindered construction projects. In May, the …
The country is due to be awarded some $16.3 million from the Caribbean Catastrophe Risk Insurance Facility after the passing of Hurricane Beryl. According to Minister of Finance Dr Nigel Clarke, it was in that context very important that the country secured a multi-layered disaster risk financing arrangement to support recovery. The Caribbean Catastrophe Risk …
On quite a bold note, Ford has revived one of its most legendary nameplates—Capri—to the present time in the form of an electric coupe-SUV. It was over half a century ago when the original Capri stormed the automotive scene in Europe, placing American muscle car flair in the hands of working people. Ford is banking …
Bp's Energy Outlook 2024 analyzes how global needs in electricity can also trade with the aid of 2050, thinking about case research: one extrapolating from present-day policy tendencies collectively with every other while we hit internet-0 emissions. The 2024 Energy Outlook gives an analysis of how global electricity demand could develop to 2050, under three …
Greater Manchester is to expand its Metrolink with tramway extensions to Stockport, Middleton, and Heywood. The combined Greater Manchester Authority has just published plans for its new and improved regional transport structure. Plans are in the pipeline for the extension of Metrolink tram network in Greater Manchester. According to a combined authority proposition, a new …
Bus drivers in Liverpool were on the brink of striking over claims they worked for much lower wages than peers at another company. The strike has since been called off, after bus company bosses agreed to higher wages for drivers. Balloting is now due to take place on whether they will accept that new offer. …
Microsoft will not have an observer seat on the board of OpenAI. Apple's possible similar role is also affecting the decision. In general, regulators are looking at how big tech firms are cooperating with AI startups to ensure competition stays fair and development is safe. Microsoft has announced it will step down from its observer …
Crest Nicholson is considering a brand new, advanced provide from Bellway, valuing the house builder at around £720 million. After rejecting in advance bids and some other provide from Avant Homes, Crest Nicholson's directors are now leaning closer to accepting Bellway’s inspiration, which might see their shareholders hold an 18% stake in the mixed corporation. …
Recent speculations had tipped interest rates to be slashed by the Bank of England this August. However, one of the main members presiding over the rate-setting committee at the Bank of England has cast a doubt over that possibility. With inflation not entirely ruled out, and uncertainties looming large over the economy, the BoE might …
Adam Winslow took over the lead role of CEO at Direct Insurance Line Group, shifting all chances beyond car insurance to fuel growth and returns of the business. He plans to unwrap businesses in home, rescue, and commercial insurance and also takes another look at the motor insurance segment. This aims to come up with …
Flight cancellations due to the pilot's falling ill landed in the favor of a couple seeking compensation, according to a Supreme Court ruling. The court agreed that the pilot's falling ill didn't represent an "extraordinary circumstance." In light of the UK's decision to leave the EU, this judgment further strengthens passengers' rights under EU flight …
Direct Line, a prominent motor insurer in the UK, is shifting its strategy by listing its flagship brand on price comparison websites for the first time. This move reflects the growing dominance of these platforms in the UK insurance market, where approximately 90% of customers seek new policies, according to Direct Line CEO Adam Winslow. …
China's consumer price growth decelerated in June while factory prices eased but remained in deflationary territory, raising hopes for stronger economic stimulus measures at an upcoming Communist Party policy meeting. According to official data from the National Bureau of Statistics released on Wednesday, consumer prices rose by 0.2% year-on-year in June, down from a 0.3% …
Large London office buildings are becoming nearly impossible to sell due to high interest rates and investor concerns over hybrid working, which are hindering dealmaking efforts. According to property data group CoStar, only a few office buildings in London have sold for more than £100 million in the first half of the year. Notably, the …
