A senior Bank of England policymaker has warned the central bank could be forced to keep raising interest rates to prevent high levels of inflation from becoming entrenched in the economy.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Bank of England and Treasury explore the need for a digital pound
The Bank of England and Treasury are exploring launching a digital pound in a move that officials claim would firm up financial stability in Britain.
UK’s largest car plant focus of concern by Nissan as Sunderland factory branded uncompetitive
High energy costs and an eroding automotive supply chain in Britain are making Nissan Sunderland, the country’s largest car plant, uncompetitive, the carmaker has admitted.
Google to unveil Bard a direct competitor to ChatGPT as global AI battle hots up
Google is set to unveil its rival to ChatGPT as the battle for the future of internet search comes to a head.
Rishi Sunak set to appoint new Tory chairman after Zahawi sacking
Rishi Sunak is poised to mount a mini-reshuffle as he appoints a Conservative Party chairman.
Business lending to drop at fastest rate in decades as recession fears intensify
Bank to business lending is forecast to contract sharply in 2023 while mortgage lending will grow at its slowest pace since 2011 as fears of recession intensify, economists have predicted.
Elon Musk found not guilty of fraud over Tesla tweet
Tesla co-founder Elon Musk has been cleared of wrongdoing for a tweet in which he said he had “funding secured” to take the electric carmaker back into private ownership.
Australian startup Recharge wins bid for collapsed UK battery company Britishvolt
An emerging Australian company yet to construct a major project will be responsible for delivering on UK hopes to electrify its automotive industry after outbidding rivals to take over collapsed battery maker Britishvolt.
UK apprenticeship levy is a £3.5bn mistake, say business leaders
Retailers, hospitality businesses, the tech industry and recruiters have called for urgent reform of the apprenticeship levy, calling it a “£3.5bn mistake”.
Turnaround advisers say UK manufacturers and retailers need greatest support
Manufacturers and retailers are struggling most in the present economic climate and will be in greatest need of support in the year ahead, the Institute for Turnaround has warned.
Return train tickets set to be scrapped in UK rail shake-up
Return tickets are set to be scrapped and new digital ticketing introduced under reforms of the British rail system to be announced this week.
BMW in negotiations for £75M from government to retain electric Mini production in Oxford
The German automotive giant BMW is in talks with the government about a £75m funding package that would secure production of electric Minis at its Oxfordshire plant.
UK risks exodus of semiconductor firms without an industry strategy
The government risks endangering the UK’s semiconductor industry unless it urgently publishes a strategy for the sector, a leading Westminster body has warned.
UK faces ongoing recruitment crisis with more childcare and training needed
The Government is being urged to help firms recruit workers after research showed employers are facing huge problems attracting staff.
Royal Mail staff to stage 24-hour strike on 16 February
About 115,000 postal workers at Royal Mail are to stage a 24-hour strike on 16 February in their continuing dispute with management over pay and conditions.
