Tech giants to boost UK economy with 1,600 jobs
Businessam Staff
June 13, 2018
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
Businessam StaffMay 10, 2018
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
Businessam StaffMay 2, 2018
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
Businessam StaffApril 27, 2018
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 wage growth outstrips inflation as analysts see rate hike likely in May
Businessam StaffApril 17, 2018
Average wage growth in the UK in the three months to the end of February surpassed inflation for the first time in over a year, official data showed Tuesday (April 17), which analysts say may bolster the case for a rate hike in May. The Bank of England increased its key policy rate for the […]
UK regulators unveil increased spending plans on Brexit work as process enters its final year
Businessam StaffApril 9, 2018
The UK’s two main financial regulators, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) Monday, April 9, 2018, unveiled their annual spending plans on Brexit-related work, with both upping resources allocated to it, as the process of leaving the European Union enters its final year. A Central Banking news report seen by […]
UK fintech industry under pressure as young coders shun London over Brexit
Businessam StaffApril 4, 2018
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 remained world’s slowest-growing major economy in 2017 with 0.4% GDP, official figures confirm
Businessam StaffMarch 29, 2018
The UK remained the world’s slowest-growing major economy at the end of last year, according to new figures which leave GDP growth in the fourth quarter of 2017 unrevised at 0.4 percent. This meant GDP increased by 1.8 percent between 2016 and 2017, slightly less than the 1.9 percent seen between 2015 and 2016, the […]
UK inflation driven down by cheaper petrol, vegetable shortage recovery
Businessam StaffMarch 20, 2018
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
Businessam StaffFebruary 21, 2018
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 […]