UK national debt has reached its highest level since 1962, according to recent official statistics. As of June, government debt stood at 99.5% of the UK’s economic output, surpassing previous peaks from the pandemic. The latest figures from the Office for National Statistics (ONS) also revealed that borrowing exceeded expectations for June. A statement on […] More
Retail sales in Great Britain experienced a sharper-than-expected decline in June, dropping by 1.2% as households tightened their spending amidst adverse weather conditions, election uncertainties, and the ongoing cost-of-living crisis. This decline followed a 2.9% increase in May and was steeper than the anticipated 0.4% drop. According to the Office for National Statistics (ONS), department […] More
House purchases experienced delays on Thursday due to issues with a critical payments system, the Bank of England reported. The problem reportedly impacted numerous homebuyers and movers, leaving some “stuck waiting for the green light” with loaded removal vans in driveways. However, by 4:30 PM on Thursday, the Bank announced that the service had been […] More
Wage growth has slowed to its lowest rate in nearly two years as the job market continues to cool. Earnings increased at an annual rate of 5.7% in the three months leading up to May but are still outpacing rising prices. According to the Office for National Statistics (ONS), job vacancies have decreased, and the […] More
Global technology stocks have plunged over concerns about the computer chip industry. This decline follows reports suggesting the Biden administration may further restrict exports of semiconductor equipment to China. Former US President Donald Trump’s remarks that Taiwan, the largest chip producer, should finance its own defense have also contributed to the market’s anxiety. In the […] More
The UK government has affirmed its intention to establish the headquarters of a new energy company in Scotland, although the specific location has yet to be determined. The announcement came during the King’s Speech, where the Labour administration outlined plans for GB Energy to oversee clean power projects nationwide. Prime Minister Sir Keir Starmer, speaking […] More
Canon has introduced its first new cameras of 2024 – the flagship Canon EOS R1 and Canon EOS R5 Mark II, which are high-performance models that seem worth the anticipation. The Canon EOS R1, aimed at professional sports photographers, is designed to compete with the Sony A9 III and Nikon Z9. It features a 24.2MP […] More
The high street cosmetics chain entered administration in February, leading to the closure of 75 stores and the loss of 489 jobs. A team managed by former Molton Brown CEO Charles Denton is now poised to complete a rescue takeover deal, as administrators have agreed to an ‘exclusivity agreement’ following a competitive bidding process. The […] More
The likelihood of an August interest rate cut has diminished due to higher hotel prices, attributed by some analysts to a “Taylor Swift effect,” causing a stall in the UK’s progress against inflation. For the second consecutive month in June, the government’s preferred measure of the cost of living remained at its 2% target. While […] More
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