Business and Economics
Business and Economics News
Moody’s deems UK’s new fiscal policy regime ‘credit negative’
“It appears everyone is unusually united in their objection to the Treasury’s tax-cutting plans."
Bank of England launches emergency gilt market operation to prevent borrowing costs from spiralling out of control
The Bank said: “Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability."
Kwarteng faces massive market turmoil after disastrous day for sterling
The Treasury moved to settle the markets with the promise of a Budget next spring as the pound tumbled against the dollar on Monday.
UK economy to grow slower than previously predicted in 2022 – OECD
The influential economic body also forecast that GDP will stay completely flat in 2023 in the UK.
Pound continues to slide as Truss promises to build ‘World beating economy’
Sterling fell by more than 4 per cent to just 1.0327 dollars in early Asia trade, fuelling predictions it could plunge to parity soon.
Crispin Odey’s hedge fund soars 145% on bets against UK bonds
On Friday, the pound and London stock market plunged in what one analyst called “the worst day I have ever seen”.
Pound strength drops to lowest level EVER ahead of mini-budget
Looks like the markets aren't buying Kwasi Kwarteng's so-called "growth plan".
UK ‘in recession’ as Bank of England hikes interest rates to highest since 2008
Bank bosses predicted a 0.1 per cent fall in GDP for the current quarter, meaning the economy is in a technical recession.
EU investors snap up British firms suffering from a ‘Brexit discount’
High inflation, low investment confidence and a weaker currency make the UK an attractive target for European suitors.