Tech giants to boost UK economy with 1,600 jobs

The UK is set to benefit from 1,600 new tech jobs as part of a £2.3bn investment from private companies including cloud giant Salesforce, the prime minister announced Tuesday. Theresa May announced the multi-billion pound investment from US tech companies and venture capitalists ahead of a meeting with tech leaders in Number 10 tomorrow. US […]

UK momentum will bounce back, BoE’s Carney says

Mark Carney, Bank of England governor, has said the overall economic climate in the UK looks “little changed” in the eyes of the central bank’s monetary policy committee despite the economy has failed to meet the projections made in the February inflation report. “Three months ago the tightening guidance was explicitly conditioned on growth evolving […]

Eurozone GDP slows, but beats UK economy

The Eurozone’s economy slowed during the first quarter of 2018, according to a report by Eurostat. Eurostat had recorded an estimated slowed growth to 0.4 percent during the first quarter as against the 0.7 percent in the previous quarter. However, it is reported to have fared better than the UK economy which was reported to […]

UK economy slows at 0.1% in Q1 2018, lowest q-on-q growth since 2012

The British economy grew at its slowest quarterly rate in more than five years at the start of 2018, according to a preliminary estimate from the Office for National Statistics released Friday. Gross domestic product — the most widely used measure of economic growth — increased just 0.1% in the quarter. Growth in the final […]

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 […]