Category: Business

UK inflation remained at 8.7% in May, worse than the 8.4% expected, increasing pressure on the Bank of England to raise interest rates. Wednesday’s data marked the fourth month in a row that price rises exceeded forecasts, adding to the gloom affecting rate-setters, the Rishi Sunak government and many households. The BoE is set to...

Former Prime Minister Boris Johnson visited Valneva’s manufacturing site in Livingston in January 2021 – eight months before the vaccine deal was scrapped A Covid vaccine contract that was scrapped by the UK government cost taxpayers £358.6m, new figures show. Financial documents filed by Valneva show she received hundreds of millions of pounds in non-refundable...

Former Nissan boss Carlos Ghosn is reportedly suing the automaker for more than $1 billion. The filing marks Mr. Ghosn’s latest effort to clear his name after he was ousted from the firm in 2018 and arrested in Japan on charges of financial wrongdoing. Mr Ghosn said the allegations were aimed at derailing his plans...

First-time buyers have been hit hard by the mortgage crisis gripping Britain as lenders withdraw product packages for low-deposit borrowers. There were 199 properties available at the weekend for home seekers looking to borrow up to 95 per cent of the property’s value, according to the Moneyfacts website. That’s down more than 40 percent over...

The UK’s Financial Conduct Authority has restricted the movement of cash and assets from Odey Asset Management in a bid to restore order at the hedge fund after its founder Crispin Odey was suspended over allegations of sexually inappropriate behaviour. The FCA will publish details on Monday of the voluntary restrictions agreed with Odey Asset...

By Miles Dilworth, Senior Reporter For Dailymail.Com 15:57 18 Jun 2023, updated 16:09 18 Jun 2023 ‘Prepping’ – preparing for a catastrophic event – emerged from Cold War fears of nuclear holocaust and has always been associated with right-wing conspiracists But perpetual crisis has sparked many ‘average’ Americans to actively prepare for catastrophe, sparking a...

InterGlobe Aviation co-founder and Airbus and IndiGo chiefs after signing record order at Paris Air Show Indian carrier IndiGo has placed a record order for 500 Airbus A320 aircraft – the largest single purchase agreement by any airline in the history of commercial aviation. The deal, announced on the first day of the Paris Air...

Britain’s biggest banks have told the Prime Minister that the government should make companies such as Meta Platforms, the owner of WhatsApp, shoulder some of the financial burden caused by fraud, Sky News learns. from Mark Kleinman, City editor @MarkKleinmanSky The bosses of Britain’s biggest banks have told Rishi Sunak that technology companies must contribute...

By now we should be used to one wacky conservationist idea after another being foisted upon us, but they retain their power to create outrage. Last week we learned that a tenth of the smart meters in British homes, or around three million of them, are faulty. Technology, it seems, isn’t as wonderful as those...

Rising interest rates mean people looking to remortgage their homes will pay an average of £2,900 a year more from 2024, a think tank has said. The Resolution Foundation predicts the average two-year fixed rate deal will hit 6.25% later this year, leaving the UK in a “mortgage crisis”. About 800,000 people are expected to...