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Virgin Atlantic has become the first UK-based carrier to join the global SkyTeam airline alliance in what it called a “significant milestone” in its recovery from the Covid pandemic. The carrier is already in a joint business venture with SkyTeam members Delta and Air-France-KLM, but from January it will join...
28.09.2022 05:47
The Bank of England’s chief economist has said that a slump in the value of the pound will require a “significant monetary policy response”. Speaking at a conference on Tuesday, Huw Pill said there had been “significant market consequences” following the chancellor’s announcement of tax cuts on Friday. In a...
27.09.2022 23:46
The pound slumped to its lowest level against the dollar since 1971 after chancellor Kwasi Kwarteng announced a raft of tax cuts. Sterling dropped by 4.9 per cent to $1.0327 as trading opened in the Asian markets on Monday morning, but has since risen to around $1.08. But what does...
27.09.2022 11:44
TikTok may face a £27m fine for breaching UK data protection law involving children’s privacy over more than two years to July 2020, the Information Commissioner’s Office has said. The watchdog has issued TikTok Inc and TikTok Information Technologies UK Limited with a “notice of intent” – a legal document that precedes a potential fine....
27.09.2022 05:43
The pound’s fall to a record low against the dollar has drawn concern from the international press. Spain’s El Pais said the tax cuts and financial support announced by Liz Truss’s government indicated “a level of indebtedness that the markets consider unsustainable” was inbound. The report said markets were “counting...
26.09.2022 23:43
The record fall in the pound has fuelled speculation that the Bank of England will have to intervene to try and stabilise the currency market. Many analysts have been calling on the governor Andrew Bailey to step in before things get worse and the Bank of England is not denying...
26.09.2022 17:41
The pound has plummeted to its lowest level against the dollar in history, falling more than 4 per cent, as the markets responded to the announcement of Britain’s biggest tax cuts in 50 years. Sterling tumbled to $1.035 on Monday in early Asia trading before it regained some ground to...
26.09.2022 11:41
The UK rate of inflation remained high at 9.9 per cent for the 12 months to August, keeping it at its highest level for 40 years as the cost of living crisis continues to bite. Despite a slight fall from July’s 10.1 per cent in response to volatile fuel prices,...
23.09.2022 23:30
The pound dropped to a fresh 37-year low against the dollar as the chancellor unveiled tens of billions of pounds of tax cuts and spending. Sterling declined by 0.89 per cent to 1.115 US dollars as Kwasi Kwarteng outlined his “growth plan” for the UK economy on Friday morning. It...
23.09.2022 17:29
UK interest rates rose by 0.5 per cent to 2.25 per cent on 22 September as part of a bid by the Bank of England (BoE) to temper soaring inflation, placing it at its highest level since the global financial crisis of 2008. The decision by the institution’s Monetary Policy...
23.09.2022 11:27
Interest rates have been raised by 0.5 per cent, the Bank of England has announced. The Bank of England has said it now expects a 0.1 per cent fall in GDP over the current quarter, indicating that the country is already in a recession. A decision on whether to increase...
22.09.2022 17:24