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July 23, 2025

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Economics

Tax cuts would put ‘scary’ UK finances in greater danger, warns top economist

Paul Johnson, of the Institute for Fiscal Studies, issues plea for honesty from Labour and the Conservatives about tax and spending choices ahead of electionUnveiling significant tax cuts before next year’s general election would put Britain’s “scary” …

August 13, 2023
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UK economy grows faster than expected after surprisingly strong June

GDP increases by 0.2% between April and June on back of recovery in car manufacturing, says ONSThe UK economy grew faster than expected in the second quarter of this year after growth was boosted by a recovery in car manufacturing and a surprisingly st…

August 11, 2023
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Ukraine slaps Bacardi with ‘international war sponsor’ label over exports to Russia

Bacardi, the world’s largest private liquor company whose U.S. headquarters are in Coral Gables, has been sanctioned by Ukraine for expanding its operations in Russia, a move that the Ukrainian government says has provided economic support to the war …

August 11, 2023
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China’s economy is struggling but fears of sustained deflation are premature

Trade with rest of world is shrinking and youth unemployment is at 20% but state interventions are expectedChina’s economy is struggling. The recovery after the lifting of Covid-19 restrictions is faltering. Its trade with the rest of the world is shri…

August 9, 2023
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Risk of UK recession at next general election is 60%, says thinktank

Economic experts say it will take until third quarter of 2024 for output to return to pre-pandemic peakRishi Sunak will fight the next election against a backdrop of an economy suffering from five years of lost growth and a widening of the gap between …

August 9, 2023
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Chinese economy slips into deflation as recovery falters and demand slows

Consumer price inflation data shows prices fell by 0.3% year on year in JulyChina’s economy has fallen into deflation after consumer prices fell year on year last month for the first time in more than two years, official data shows, as slowing domestic…

August 8, 2023
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Italy approves 40% windfall tax on banks for 2023 as profits soar

Proceeds from levy on interest rate income will be used to help mortgage holders and cut taxesBusiness live – latest updatesItaly has announced a one-off 40% windfall tax on local banks that have been accused of reaping billions in extra profit from ri…

August 8, 2023
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UK house prices drop again as Halifax says first-time buyers are switching to smaller homes

Decline in July is fourth monthly fall in a row with prices dropping by 2.4% on an annual basis, says lenderThe average UK house price has fallen for the fourth month in a row, according to Halifax, which says higher borrowing costs are increasingly pu…

August 7, 2023
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UK business confidence falls as economy slows and interest rates rise

Firms have cut back on hiring staff and manufacturing output is at its lowest since May 2020 as supply issues continue, a survey findsBusiness confidence fell last month amid jitters over the slowing UK economy dampening company plans to hire more staf…

August 7, 2023
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Many of world’s largest hedge funds face UK stress test

Participants also including banks and pension funds will have to reveal how activities could harm financial systemMany of the world’s largest hedge funds will reveal whether their investment activities risk amplifying economic shocks and harming the UK…

August 6, 2023
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