SMEs put the buzz into business July 14, 2022 Micro-firms are the worker bees of the economy. They provide the thousand-and-one services that keep business going, contribute to the community, and help us keep our daily lives on track. They are the one-man bands; the partnerships, and the family businesses. They’re the people in the kiosk at the station serving your coffee in the [...]
OBR warns MPs against loose fiscal policy July 14, 2022 As the Tory leadership contest saw contenders set out their plans for taxes and government spending, officials from the UK’s fiscal watchdog yesterday repeated warnings about the trajectory of the UK’s public finances. In a Treasury Select Committee hearing yesterday, Chair of the Office for Budget Responsibility Richard Hughes said that the UK’s debt is [...]
Exclusive: Tory leadership hopefuls’ income tax cut pledges will not support poorest July 13, 2022 Tory leadership hopefuls’ promises to bring forward the planned income tax cut will not help “those in real financial need”. That’s according to Tim Sarson, head of tax policy at KPMG UK, who shared his thoughts exclusively with City PM on what the eventual winner of the contest and the long-term chancellor need to prioritise. [...]
City frets over steeper Bank of England rate rise after GDP boost in May July 13, 2022 A better than expected assessment of the UK economy was not enough to push London’s top indexes higher today. The capital’s premier FTSE 100 index dropped 0.74 per cent to 7,156.37 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.76 per cent to [...]
UK startup firm Codebase to receive £42m in public money to launch network of tech hubs July 13, 2022 A British tech company is being given up to £42m from the Scottish Government to create a network of tech industry hubs. Codebase is being given the contract, which is described as one of the government’s largest ever investments in entrepreneurship. The hubs are designed to allow start-up businesses to scale up and access advice [...]
US inflation surge ‘nails on’ another Fed rate hike bazooka July 13, 2022 Prices are rising at the fastest pace in nearly 41 years in America, nailing on another huge rate rise by the US Federal Reserve larter this month. US inflation climbed to 9.1 per cent last month, smashing Wall Street’s expectations and up from an already historic level of 8.6 per cent, according to data published [...]
Mode Global raises £2m as it looks to recover from cashback controversy July 13, 2022 Crypto firm Mode Global said it had raised £2m today as it looks to get back on the front foot after a crypto cashback scandal last year.
Property prices to smash through £300,000 mark by next month, industry expert predicts July 13, 2022 AVERAGE property prices will smash through the £300,000 mark by the end of the Summer, an expert said today. Latest data show that prices hit a record £294,845 – as rates rose at the fastest level in 18 years. Despite claims prices could be set to crash, Jonathan Rolande, from House Buy Fast, believes we [...]
Economic green shoots to coax Bank of England into steepest rate rise since independence July 13, 2022 Signs of green shoots in the UK economy will encourage the Bank of England to launch the steepest interest rate hike since it was made independent 25 years ago. Stronger than expected growth in May suggests the economy can absorb higher interest rates without falling into recession, known as a “soft-landing,” according to City analysts. [...]
The investment trust sector and the Four Horsemen – a review of Q2 22 July 13, 2022 Conquest and War – Russia’s invasion of Ukraine and the ongoing conflict between the two countries; Famine – at the very least the increased threat of global food shortages as supplies from Ukraine, the ‘bread basket of Europe’, increasingly become weaponised; Death – despite the roll-out of vaccines, Covid-19 continues to mutate and take lives [...]
