European-first semiconductor facility launches in Southampton
A new facility to build the next generation of semiconductor chips, and the first of its kind in Europe, was opened at the University of Southampton. HM GovernmentSource
Read More
Trump tariffs likely to drag down weak UK growth, Bank policymaker warns
Sarah Breedon says too early to judge impact on inflation of ‘most significant change in trade policy in a century’ Business live – latest updates UK economic growth will be hit by US tariffs, which are the biggest trade policy change in a century, a senior Bank of
Read More
Barclays cuts rates on some mortgages to below 4% amid US tariffs turmoil
Bank is largest UK lender to cut rates in apparent response to turbulence, and experts predict others will follow Business live – latest updates Barclays has become the largest UK lender so far to cut its mortgage rates in apparent response to the financial turmoil sparked by the
Read More
Bank of England says AI software could create market crisis for profit
Concern grows over programs deployed to act with autonomy that may ‘exploit weaknesses’ Business live – latest updates Increasingly autonomous AI programs could end up manipulating markets and intentionally creating crises in order to boost profits for banks and traders, the Bank of England has warned. Artificial intelligence’s
Read More
Trump tariffs threaten global growth and raise risk of ‘severe shocks’, says Bank of England
Levies have heaped pressure on government finances and increased chance of ‘further sharp correction’, report warns Trump imposes new tariffs on dozens of partners, sparking fresh market turmoil Business live – latest updates Donald Trump’s sweeping tariffs have put global growth at risk, the Bank of England has
Read More
Bank ‘should cut UK interest rates to at least 4% in May amid tariff turmoil’
Ex-Bank of England deputy governor Charlie Bean says cut of 0.5 points needed because of ‘crazy situation’ in US The Bank of England should use its meeting next month to cut interest rates by at least half a percentage point to 4% in response to the financial turmoil
Read More
UK savers could have up to £110,000 protected under regulator’s new plan
Rise from current limit of £85,000 would be first big change to protection scheme since 2008 banking crisis Business live – latest updates UK savers would have up to £110,000 of their deposits protected if their bank or building society goes bust under proposals put forward by the
Read More
Late data from one business means UK wage growth may need to be revised, says ONS
Caveat from statistics agency is latest sign of its problems collecting reliable economic data Britain’s main measure of wage growth may need to be revised after a large employer failed to supply earnings data on time, the country’s troubled statistics agency has warned. In the latest sign of
Read More
UK inflation falls to 2.8% in boost for Rachel Reeves before spring statement
Bigger-than-forecast decline in annual rate in February is positive news for chancellor in run-up to Commons address UK inflation has fallen back to 2.8%, giving Rachel Reeves some positive news before she makes her spring statement. The Office for National Statistics said annual inflation as measured by the
Read More
The Guardian view on Rachel Reeves’s spending cuts: a choice, not an economic necessity | Editorial
The spring statement casts austerity as unavoidable, but Labour is clinging to economic myths while ignoring the tools of power The chancellor’s spring statement arrives with the sombre tone of inevitability. Britain, we’re told, must tighten its belt. Welfare payments for the sick and disabled will be shrunk.
Read More