Tag #Uk Economy

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chinadaily.com.cn

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Dec 21, 04:06

Brexit Cost UK £27 Billion in First Two Years: Study

The UK's exit from the EU's single market and customs union resulted in a £27 billion ($34 billion) loss in trade over two years, primarily affecting small businesses, while larger businesses maintained pre-Brexit trade levels; this is less than initially projected but talks to update trade agreemen...

Brexit Cost UK £27 Billion in First Two Years: Study

The UK's exit from the EU's single market and customs union resulted in a £27 billion ($34 billion) loss in trade over two years, primarily affecting small businesses, while larger businesses maintained pre-Brexit trade levels; this is less than initially projected but talks to update trade agreemen...

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How do the actual economic losses from Brexit compare to initial forecasts, and what factors contributed to this discrepancy?

The research, based on UK customs data from over 100,000 companies, reveals a 6.4 percent decrease in goods exported to Europe and a 3.1 percent drop in imports by the end of 2022. While lower than initial predictions, this reduction still represents a substantial economic cost. The impact varied greatly, with small businesses facing the brunt of the new trade barriers.

dailymail.co.uk

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Dec 21, 01:08

Amcomri's Successful IPO Boosts London's AIM Market

Amcomri, a specialist engineering firm, raised £12 million in its initial public offering (IPO) on London's AIM market, marking a positive event for the market which recently reached its smallest size in 23 years, while broader market trends saw mixed results, with some sectors experiencing gains an...

Amcomri's Successful IPO Boosts London's AIM Market

Amcomri, a specialist engineering firm, raised £12 million in its initial public offering (IPO) on London's AIM market, marking a positive event for the market which recently reached its smallest size in 23 years, while broader market trends saw mixed results, with some sectors experiencing gains an...

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What factors beyond immediate market conditions could influence Amcomri's long-term prospects and the overall health of the AIM market?

Amcomri's IPO success could signal a shift in investor focus towards specialized engineering firms. Continued success may depend on the company's ability to navigate economic challenges and maintain growth.

dailymail.co.uk

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Dec 20, 16:12

Kretinsky's Royal Mail Takeover Approved, Raising Financial and Security Concerns

The UK government approved Daniel Kretinsky's £3.6 billion takeover of Royal Mail on Friday, despite concerns about his Russian business ties and the deal's financing, requiring 75 percent shareholder approval and including guarantees to protect the postal service.

Kretinsky's Royal Mail Takeover Approved, Raising Financial and Security Concerns

The UK government approved Daniel Kretinsky's £3.6 billion takeover of Royal Mail on Friday, despite concerns about his Russian business ties and the deal's financing, requiring 75 percent shareholder approval and including guarantees to protect the postal service.

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What are the immediate implications of the UK government's approval of Kretinsky's Royal Mail takeover?

Daniel Kretinsky's £3.6 billion acquisition of Royal Mail has received UK national security clearance, paving the way for completion. The deal, approved under the National Security and Investment Act, faces shareholder approval and involves significant debt financing. This raises concerns about Royal Mail's financial stability and potential impact on its services.

theguardian.com

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Dec 20, 13:12

Weak UK Retail Sales in November Despite Early Black Friday Discounts

Great Britain's November retail sales rose a meager 0.2% month-on-month, defying economists' 0.5% prediction and highlighting weak consumer spending; clothing sales plummeted 2.6%, hitting a low since January 2022, while food and household goods showed modest growth.

Weak UK Retail Sales in November Despite Early Black Friday Discounts

Great Britain's November retail sales rose a meager 0.2% month-on-month, defying economists' 0.5% prediction and highlighting weak consumer spending; clothing sales plummeted 2.6%, hitting a low since January 2022, while food and household goods showed modest growth.

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What is the overall impact of the weaker-than-expected November retail sales on the British economy, considering the importance of the Christmas shopping season?

Retail sales in Great Britain saw a weaker-than-expected 0.2% month-on-month increase in November, despite early Black Friday discounts. This follows a 0.7% slump in October and falls short of the anticipated 0.5% growth. Clothing sales notably dropped 2.6%, reaching their lowest point since January 2022.

dailymail.co.uk

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Dec 20, 16:12

UK Inheritance Tax Receipts Hit Record High

UK inheritance tax receipts totaled £5.7 billion from April to November 2024, a £600 million increase year-on-year, driven by rising house prices, a frozen tax threshold, and recent government policy changes; this contributed to a £15 billion rise in overall tax receipts.

UK Inheritance Tax Receipts Hit Record High

UK inheritance tax receipts totaled £5.7 billion from April to November 2024, a £600 million increase year-on-year, driven by rising house prices, a frozen tax threshold, and recent government policy changes; this contributed to a £15 billion rise in overall tax receipts.

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What are the immediate implications of the £600 million increase in inheritance tax receipts compared to the same period last year?

Inheritance tax receipts in the UK reached £5.7 billion from April to November 2024, exceeding the same period in 2023 by £600 million. This increase, driven by factors like rising house prices and a frozen tax threshold, contributed to a £15 billion rise in overall tax receipts for the government. Experts predict further increases in the coming years.

theguardian.com

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Dec 19, 16:12

Bank of England Holds Rates Amidst Inflation and Growth Concerns

The Bank of England's Monetary Policy Committee voted 6-3 to hold interest rates at 4.75% due to October's wage growth exceeding 5% and inflation reaching 2.6%, despite concerns about zero economic growth following Labour's budget and the risk of recession.

Bank of England Holds Rates Amidst Inflation and Growth Concerns

The Bank of England's Monetary Policy Committee voted 6-3 to hold interest rates at 4.75% due to October's wage growth exceeding 5% and inflation reaching 2.6%, despite concerns about zero economic growth following Labour's budget and the risk of recession.

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What were the key factors influencing the Bank of England's decision to maintain interest rates at 4.75%?

The Bank of England's Monetary Policy Committee (MPC) voted to hold interest rates at 4.75%, with six members voting to hold and three voting for a reduction. This decision was influenced by October's wage growth exceeding 5% and inflation rising to 2.6%, threatening the Bank's 2% inflation target. Concerns about long-term labor market constraints due to high sickness levels and their impact on wages also played a role.

news.sky.com

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Dec 21, 13:09

Retailers Unite Against Planned Business Rate Hikes

Major British retailers are forming the Retail Jobs Alliance (RJA) to fight planned business rate increases exceeding £500,000, warning of job losses and store closures, especially in deprived areas, contradicting Labour's stated aim to level the playing field between high street and online retailer...

Retailers Unite Against Planned Business Rate Hikes

Major British retailers are forming the Retail Jobs Alliance (RJA) to fight planned business rate increases exceeding £500,000, warning of job losses and store closures, especially in deprived areas, contradicting Labour's stated aim to level the playing field between high street and online retailer...

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How does the planned increase in business rates contradict Labour's stated policy goals?

The RJA's opposition to the business rate increases highlights a conflict between Labour's stated aim to level the playing field between online and high street retailers and the practical implications of the proposed tax changes. The alliance, employing over a million people, argues that the increased rates disproportionately affect stores in areas reliant on retail jobs. Their analysis will show the impact on employment in these areas.

dailymail.co.uk

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Dec 20, 04:10

Bank of England Downgrades UK Growth Forecast to Zero, Blaming Labour's Budget

The Bank of England slashed its UK growth forecast to zero for the final quarter of 2024, blaming Chancellor Rachel Reeves's £25 billion National Insurance hike for crushing business confidence and potentially triggering a recession; pre-Budget growth was described as 'gangbusters'.

Bank of England Downgrades UK Growth Forecast to Zero, Blaming Labour's Budget

The Bank of England slashed its UK growth forecast to zero for the final quarter of 2024, blaming Chancellor Rachel Reeves's £25 billion National Insurance hike for crushing business confidence and potentially triggering a recession; pre-Budget growth was described as 'gangbusters'.

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How has the Chancellor's National Insurance hike specifically impacted businesses and the overall economic climate?

The NI hike, increasing the rate from 13.8 percent to 15 percent and lowering the threshold from £9,100 to £5,000, is blamed for dampening business confidence and activity. Surveys indicate reduced investment, wages, and workforce, potentially leading to a recession if GDP shrinks for two consecutive quarters.

theguardian.com

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Dec 20, 13:12

UK Debt Falls to Three-Year Low in November

In November, UK government borrowing fell to £11.2bn, defying forecasts of £13bn and marking the lowest November figure since 2019, owing to lower interest payments (£3bn) and higher tax receipts, offering Chancellor Rachel Reeves temporary respite from budget criticism.

UK Debt Falls to Three-Year Low in November

In November, UK government borrowing fell to £11.2bn, defying forecasts of £13bn and marking the lowest November figure since 2019, owing to lower interest payments (£3bn) and higher tax receipts, offering Chancellor Rachel Reeves temporary respite from budget criticism.

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What is the immediate impact of the UK's lower-than-expected November borrowing figures on the government's financial situation and political standing?

UK government borrowing dropped to £11.2bn in November, significantly lower than predicted and the lowest November figure in three years. This positive outcome is largely due to lower interest payments on government debt (£3bn) and higher-than-expected tax receipts. The lower-than-expected borrowing provides Chancellor Rachel Reeves with some relief amidst criticism of her recent budget.

news.sky.com

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Dec 20, 13:12

UK Retail Sales Underwhelm in November Despite Black Friday

UK retail sales rose a smaller-than-expected 0.2% in November, despite Black Friday discounts, due to a sharp drop in clothing sales and tough trading conditions; sales remain below pre-pandemic levels.

UK Retail Sales Underwhelm in November Despite Black Friday

UK retail sales rose a smaller-than-expected 0.2% in November, despite Black Friday discounts, due to a sharp drop in clothing sales and tough trading conditions; sales remain below pre-pandemic levels.

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What are the potential long-term consequences of persistently weak retail sales for the UK economy, and what policy responses might be necessary?

The disappointing November retail figures signal a potential weakening in consumer spending, which may further dampen economic growth. The persistent underperformance in clothing sales, coupled with rising prices, indicates sustained pressure on household budgets. This trend could have significant implications for overall economic outlook and government policy.

news.sky.com

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Dec 19, 01:11

Fed Cuts Rates Amid Inflation Concerns, Bank of England to Hold

The Federal Reserve cut its benchmark interest rate by 0.25 percentage points to 4.25%-4.5% on December 14, 2023, signaling a more cautious approach to future reductions due to rising inflation and uncertainty surrounding new trade tariffs; the Bank of England is expected to maintain its interest ra...

Fed Cuts Rates Amid Inflation Concerns, Bank of England to Hold

The Federal Reserve cut its benchmark interest rate by 0.25 percentage points to 4.25%-4.5% on December 14, 2023, signaling a more cautious approach to future reductions due to rising inflation and uncertainty surrounding new trade tariffs; the Bank of England is expected to maintain its interest ra...

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How do the contrasting monetary policy approaches of the Federal Reserve and the Bank of England reflect their respective economic situations and challenges?

The Fed's decision reflects a delicate balancing act between supporting economic growth and controlling inflation. Rising inflation, fueled by robust consumer spending and potential trade tariffs, prompted a more cautious approach than previously anticipated, contrasting with the Bank of England's predicted inaction due to simultaneous wage and price growth acceleration in the UK.

news.sky.com

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Dec 19, 16:12

Bank of England Holds Rates Amid Inflationary Pressures

The Bank of England's Monetary Policy Committee voted 6-3 to hold the Bank rate at 4.75% on December 18th, 2024, despite higher-than-expected wage rises and inflation, signaling a continued, albeit uncertain, path towards gradual interest rate cuts next year.

Bank of England Holds Rates Amid Inflationary Pressures

The Bank of England's Monetary Policy Committee voted 6-3 to hold the Bank rate at 4.75% on December 18th, 2024, despite higher-than-expected wage rises and inflation, signaling a continued, albeit uncertain, path towards gradual interest rate cuts next year.

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What is the immediate impact of the Bank of England's decision to maintain interest rates at 4.75%, and what are the short-term economic implications?

The Bank of England maintained its guidance for gradual interest rate cuts next year despite three members voting for an immediate cut, reflecting uncertainty about the economy's trajectory. Higher-than-expected wage rises and inflation, coupled with a slowdown in economic growth, influenced the decision to keep the Bank rate at 4.75%. This contrasts with earlier expectations of four rate cuts in 2025.

Showing 421 to 432 of 500 results