After years of insufficient investment and sagging productivity in the UK, the Labour Party recognizes that achieving high-quality growth will require a comprehensive policy approach that builds on many intermediate objectives. But devising a strategy is only the first step; the real challenge lies in implementation. By Mohamed A. El-Erian CAMBRIDGE – As in many...
Category: Bussiness
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More years of financial pain for mortgage holders says Bank of England
As many as three million households are set to experience more financial pain as their mortgage payments rise in the next two years, the Bank of England has warned. And about 400,000 mortgage holders are facing some “very large” payment increases, the Bank’s Financial Stability report cautioned. Monthly mortgage payments are expected to rise by...
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UK Music Makes It Official, Appoints Tom Kiehl to Chief Executive of British Trade Body
LONDON — Tom Kiehl has been announced as the new chief executive of UK Music, succeeding Jamie Njoku-Goodwin, who left the British industry trade body last year to work for Prime Minister Rishi Sunak. Kiehl has held the role of interim chief executive at UK Music since Njoku-Goodwin’s sudden exit in September. He has worked...
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First Universal theme park in Europe to generate ‘£50bn of economic benefits for UK’
New details have been unveiled for Universal’s first UK theme park – including plans for the attraction to be open 365 days a year. Universal Destinations & Experiences – which is owned by Sky’s parent company Comcast – has bought land near Bedford as it plans to build Europe’s largest theme park with millions of...
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Suspects Arrested Over Alleged $1.2B Illegal Crypto Business By United Kingdom’s FCA
The Financial Conduct Authority (FCA) and the Metropolitan Police Service in the United Kingdom have arrested two individuals suspected of running an unregistered crypto asset exchange worth over 1 billion British Pounds ($1.2 billion). What Happened: The operation highlights the FCA’s commitment to combating financial crimes and ensuring the integrity of the UK’s financial system....
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Kneecap to challenge government funding refusal
2 hours ago By Bernadette Allen, BBC News NI BBC Band member DJ Próvaí outside court with his solicitor Darragh Mackin The west Belfast rap group Kneecap has secured High Court permission to take legal action against the UK Government for blocking them from receiving a £15,000 funding award. The band has been granted leave to seek...
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UK inflation rate hits target of 2%: Is this a signal for rate cuts?
The United Kingdom’s overall inflation rate fell to 2% year-on-year in May, hitting the Bank of England’s target for the first time since July 2021, just ahead of the bank’s June meeting. ADVERTISEMENT This marks the lowest annual change in the consumer price index since July 2021, aligning with analysts’ forecasts. On a monthly basis,...
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Fans confused as Krispy Kreme releases ‘Friends’ doughnuts but only in UK, Ireland
Barron’s Jack Hough, Ben Levisohn and Teresa Rivas offer predictions on the future of three key stocks on ‘Barron’s Roundtable.’ News that Krispy Kreme’s limited-edition “Friends”-themed doughnuts would be released only in the United Kingdom and Ireland has confused some U.S.-based fans of both the television show and the doughnut chain. The doughnuts were first...
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Philippine British Business Council celebrates 30th anniversary
AS the Philippine British Business Council (PBBC) moves toward its 30th anniversary under its new London chairman, Joseph Miro, the background for the further development of bilateral trade and direct investment opportunities for both countries has never been stronger. In 2024, it welcomed Gabriella Tuason Quimson and Stephen Phillips, among others, as members of the...
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Millionaires are fleeing Britain in their thousands | CNN Business
London CNN — A record number of millionaires could leave the United Kingdom this year as political turmoil and the potential for higher taxes under a future Labour government reduce the appeal of what was once among the top destinations for the rich. As many as 9,500 people with at least $1 million in liquid,...
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India looks to sign FTA after UK elections, 8th round of talks soon
The long-awaited trade deal between India and Britain is likely to be signed after the completion of elections in the United Kingdom as the officials of India and the United Kingdom met virtually on May 7 last month. Last month, the Ministry of Commerce organised a Chintan Shivir to provide information related to Free Trade...
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Mortgage News: Santander Bucks Recent Trend With Purchase, Remortgage Rate Cuts
Find out what’s happening with mortgage rates today and calculate monthly repayments across a range of different rates and deals. 12 June: Market Divides Over Likelihood Of Bank Rate Reduction Santander has cut selected fixed rates for residential purchase and remortgage, in welcome news for borrowers looking for a new home loan. The bank, the...