UK fintech industry under pressure as young coders shun London over Brexit

British financial technology companies are worried that Brexit is causing a shortage of software engineers and pushing up salaries in the sector, prompting some of them to open offices elsewhere in the EU, reports the Financial Times. Mike Laven, chief executive of Currencycloud, said that the UK-based payments company was planning to open an office […]

UK inflation driven down by cheaper petrol, vegetable shortage recovery

The squeeze on household finances eased slightly in February, as consumer price inflation (CPI) – the measure of how prices change for shoppers – grew by 2.7pc, according to official statistics. The drop means that inflation reached its lowest level since July 2017 last month. This marks a 0.3 percentage point fall from January this […]

Unemployment rises for first time in UK since 2016

Unemployment has increased by the biggest amount in almost five years, while earnings continue to grow more slowly than prices, new figures reveal. There were 1.47 million people out of work in the quarter to December 2017, an increase of 46,000, giving a jobless rate of 4.4%. The quarterly rise was the biggest since early […]

UK posts largest trade deficit in 15 Months to December 2017

The UK’s deficit on trade in goods and services widened by £1.2 billion to £4.896 billion in December 2017 from an upwardly revised £3.652 billion in the previous month and way above market expectations of £2.4 billion. It was the largest trade deficit since September 2016. Imports of goods and services to the UK rose […]

UK unemployment hit record high as earnings increase 2.5%

UK employment surged to a record high of 32.2 million people in work between September and November 2017, according to figures from the Office for National Statistics (ONS). Unemployment fell to 1.44 million in the same period, barely changed from June to August, but 160,000 fewer than the previous year. Meanwhile, average weekly earnings for […]