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Economy
UK economy bounces back in May: Are challenging times over?
July 13, 2022 11:46 PM AEST| By Abhishek SharmaHighlights:,The UK economy registered an unexpected growth in May, largely aided by GP appointments.,The monthly GDP is now 1.7% above its pre-pandemic levels.,Even as concerns over the rising,inflation,and imminent recession continue, the UK economy...
Key things to note as Boris Johnson quits as PM
July 07, 2022 09:08 PM AEST| By Abhishek SharmaHighlights:,UK PM Boris Johnson is set to quit after more than 50 cabinet ministers tendered their resignations.,He will address the nations on Thursday evening.,The Boris Johnson government in the UK has plunged into further disarray as resignations...
Five major challenges new UK Chancellor Nadhim Zahawi faces
July 06, 2022 09:16 PM AEST| By Abhishek SharmaHighlights:,Nadhim Zahawi has been appointed as the new Chancellor of the Exchequer after Rishi Sunak stepped down.,Amid the cost-of-living crisis, Zahawi faces a myriad of challenges.,In a major blow to Prime Minister Boris Johnson, Chancellor of th...
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Rishi Sunak and Sajid Javid resign amid the UK’s economic downturn
July 06, 2022 06:17 PM AEST| By Rishika RainaAccording to the latest Financial Stability Report published by BoE, the condition of the UK economy has worsened considerably.
ANTO, NG., CNA: Stocks to consider if recession hits UK
June 27, 2022 09:40 PM AEST| By Abhishek SharmaAccountancy firm KPMG has forecasted that the country may witness a recession next year. UK's GDP growth is estimated to shrink by half this year and drop to 0.7% next year.
UK inflation climbs to 9.1%: Which stocks can you consider now?
June 22, 2022 09:28 PM AEST| By Abhishek SharmaHighlights:,According to the ONS, UK inflation reached 9.1% in May, the highest since 1982.,This is more than four times the 2% target of the Bank of England.,There is no relief in sight for millions of Britons facing a significant squeeze on househo...
BoE raises interest rates to 1.25%: How will it affect UK inflation?
June 16, 2022 11:02 PM AEST| By Abhishek SharmaHighlights The Bank of England on Thursday announced the fifth consecutive hike in interest rates. The central bank was under pressure to take aggressive steps after the US Federal Reserve announced a 0.75 percentage point hike in the benchmark.....
Why sending parcels may cost Aussies more?
June 15, 2022 06:31 PM AEST| By Akanksha VashishtHighlights Postal service providers, including Australia Post, have announced massive bumps to their surcharge fees. High fuel and transportation costs emanating from Russia-Ukraine war have made things tougher for postal service providers. Th.....
UK economy contracts by 0.3% in April: What lies ahead?
June 14, 2022 03:50 PM AEST| By Abhishek SharmaHighlights The UK economy shrank by 0.3% in April, the latest data from the ONS revealed on Monday. This is the first time that all main sectors - services, production, and construction – have seen negative growth since January 2021. .....
After no-confidence vote, Boris Johnson pledges to focus on UK's economy
June 07, 2022 07:44 PM AEST| By Abhishek SharmaHighlights Prime Minister Boris Johnson on Monday won a no-confidence vote by a narrow margin. He now faces political uncertainty as 41% of his own colleagues voted to oust him. British Prime Minister Boris Johnson on Monday survived a no.....
Sunak announces £21bn cost-of-living support package. Is it enough?
May 28, 2022 12:23 AM AEST| By Rishika RainaHighlights Chancellor Rishi Sunak has announced a £15 billion cost-of-living package for struggling UK households. The Treasure will also give away a grant of £400 to every household, taking the total support package to £21bn......
Why is China moving against the tide in terms of interest rate changes?
May 22, 2022 12:15 AM AEST| By Akanksha VashishtHighlights China’s government has initiated country-wide lockdowns as rising COVID cases spark concerns. Lockdowns across the country have landed major businesses in losses, resulting in shipment delays. The Chinese central bank has rece...
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What is windfall tax? Will it affect soaring energy prices?
May 15, 2022 09:00 AM AEST| By Rishika RainaHighlights Amid the growing demand for a windfall tax, UK PM Boris Johnson declined to rule out the one-off levy. Labour expects that the windfall levy can help in raising around £2bn if the energy prices keep escalating. PM Boris Johnso.....
Political unrest in Sri Lanka amid rising economic turmoil
May 14, 2022 12:00 AM AEST| By Toshiva JainHighlights Several economists have said that the main problem behind Sri Lanka’s current situation is economic mismanagement. Hundreds have been injured in protests; few have even died including a ruling party MP. After Mahinda Rajapaksa...
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Is the UK economy heading towards recession? 4 points to note
May 08, 2022 09:01 AM AEST| By Rishika RainaHighlights Lifting the interest rate yet again, the Bank of England has warned that the UK economy might be headed towards a recession. As per the latest BoE estimates, the UK inflation level may even hit 10% by the end of 2022 In 2023, the UK.....
Explained: How Russian economy is holding on despite heavy sanctions
May 05, 2022 11:21 AM AEST| By Toshiva JainHighlights: Despite geo-political turmoil and heavy sanctions, Russia picked up its exports in April. Most of Western European and other countries like India and Turkey are importing oil from Russia. Several economists suggest that Russian eco.....
Three top hedges to shield your portfolio against inflation
May 01, 2022 12:42 AM AEST| By AayushSince the beginning of 2022, inflation worries have been mounting globally. The US recently recorded a 40-year high inflation while for New Zealand as well as the UK, inflation is at a 30-year high. These soaring figures are enough to remind invest.....
Five ways to prepare for interest rate hikes
May 01, 2022 12:28 AM AEST| By Akanksha VashishtAs an interest rate hike decision by the Reserve Bank of Australia (RBA) approaches closer, loan holders need to be prepared to part ways from a considerable share of their income. Most financial markets expect the RBA to raise interest rates as so.....
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5 recent developments you may want to know about the UK economy
April 26, 2022 10:23 PM AEST| By Rishika RainaHighlights Retail and manufacturing costs have been soaring lately in the UK, resulting in higher prices for customers. Labour has recently warned that an annual increase of £10 billion in annual petrol and diesel costs is ahead of Briton.....
Is UK staring at a food crisis in the coming months?
April 21, 2022 11:42 PM AEST| By Team Kalkine MediaHIGHLIGHTS World Bank president David Malpass has said the world is facing a 'human catastrophe' from the food crisis. Food prices in the UK climbed by 5.9% in the year to March 2022, highest since September 2011. Food prices across the wo.....
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