Economy

DfT kickstarts William-Shapps Plan with £5 million investment

Summary DfT has kickstarted the William-Shapps Plan with £5m government funding The rail data will be opened up for developers via a new sin...

UK’s New Subsidy Control Bill for Quicker and Flexible Support for B...

Summary The UK has announced its new subsidy control bill, based on a set of UK-wide principles. The new system will be more flexible and based on...

Accelerating inflation a concern, even as shop prices record fall in...

Summary The decline in UK’s shop prices rose to 0.7% in June, while May saw a 0.6% decrease. BRC-NielsenIQ shop price index showed non-food...

Nearly 800,000 employees, working from home, claim tax relief

Summary HMRC has extended the benefit of tax concessions to a majority of employees Nearly 800,000 employees have already claimed the benefits of...

Nissan Expected to Start Sunderland Gigafactory Creating Thousands o...

Summary Car manufacturing giant Nissan is expected to set up a gigafactory in Sunderland. the new plant is expected to offer direct job opportunit...

Small Businesses Seek Additional Support Following Extended Restrict...

Summary  Small businesses in the UK are seeking additional support from the government to run their businesses.  Some changes will ...

Microsoft roped in as Principal Partner for COP26 Glasgow Summit

Summary Microsoft has been roped in as a Principal Partner for the COP26 The summit has eight other domestic corporations and one Japanese MNC Al...

Northern Ireland developments could finally mean a truce between the...

Summary The Irish government has hinted at a possible truce between the European Union and the UK. The Northern Ireland Protocol necessitates chec...

Bank of England raises inflation forecast but leaves interest rates...

Summary Bank of England has raised its inflation forecast but said it would be a temporary. BoE expects that consumer prices would see a jump of 3...

What moved business optimism in UK directors at a record high?

Summary A new survey by the Institute of Directors found that UK’s business leaders’ confidence in the economy was at an all-time high....

Has inflationary pressure started impeding UK economic rebound?

Summary The IHS Markit economic survey reported a preliminary June reading of 61.7, falling slightly from May’s reading of 62.9. The margina...

Why is Lloyds Banking closing 44 branches in England & Wales?

Summary Lloyds Banking Group has announced to close 44 branches Decision has been criticised by the British and Irish Trade Union Unite Shares of...

The UK to formally begin trans-pacific free trade talks

Summary The UK had applied to join the CPTPP in January after its exit from the European Union earlier this year. The CPTPP is the largest trading...

How Poor Ergonomics In The New Hybrid Work Model Can Impact Health

Summary Work induced injuries are a growing concern globally, a study of insurance firm Liberty Mutual reported work-related musculoskeletal disord...

UK reports weekly jump of 79% in Delta variant infections

Summary PHE has reported a sizable jump in the Delta variant cases The Delta variant cases in the UK increased by as much as 79.46% in a week Not...

Economy Set to Get a Big Boost with New Infrastructure Bank

Summary The UK treasury has launched a new infrastructure bank in the Leeds. The bank will fund various infrastructure projects across the UK thro...

UK inflation soars to 2.1%, highest since July 2019

Summary UK CPI-based inflation rate soared to 2.1% in May 2021 Sharp increase clearly portrayed the sudden spike in demand Clothing, meals and dr...

UK-Australia First Free Trade Agreement Post Brexit to Boost Boris J...

Summary Australia and the UK signed the first free-trade agreement since Brexit. The deal would remove tariffs on swimwear, Hardy wines, Jacob&rsq...

Unemployment rate slips slightly as claimant count dips sharply

Summary The unemployment rate in the UK fell marginally in April 2021 to 4.7% Number of people seeking the unemployment benefits dropped by 92,600...

What Is the UK Doing About the Climate Challenge?

Summary Climate change threat is increasing every day, with the world having touched 419 parts per million of CO2 in the atmosphere in May 2021, th...