2 h. ago UK unemployment jumps to highest since 2021 as wage growth slows

The Office for National Statistics said the rate of UK unemployment increased to 4.7% in the three months to May.

Politics

3 h. ago Rachel Reeves' £20bn tax raid leads to thousands of job losses as wage growth cools

Thousands of jobs were lost in June, according to official data, as Chancellor Rachel Reeves' £20bn tax raid led to a cooling in wage growth and put the Bank of England under further pressure

Economics

18 h. ago Will Nigel Farage’s attempt to copy and paste Trump’s policies work in the UK? | Samuel Earle

The Reform leader is trying to import Doge’s cuts to spending and ‘DEI’. It’s clear what he gets out of it – not so much the British voterA popular maxim on the American right is that politics is downstream from culture. In the UK, it increasingly feels like politics is simply downstream from the US. With Reform UK ascendant in the polls, Nigel Farage – officially MP for Clacton, unofficially Donald Trump’s emissary to the UK – is setting the terms of the national conversation, and he is importing them directly from across the pond.Over the past few months, Reform has sought to launch “Doge” initiatives (referencing Elon Musk’s department of government efficiency), waged war on DEI (diversity, equity and inclusion) employment schemes, and called for the UK government to embrace crypto and create a bitcoin digital reserve at the Bank of England, following Trump’s lead. It seems the Brexiteers were right: Britain doesn’t make anything any more – not even its own bogeymen.Samuel Earle ...

Politics

20 h. ago Bank of England 'should continue' to cut interest rates as inflation warning issued

There “doesn’t seem to be enough" in the new high inflation numbers "to derail an interest rate cut in August,” according to finance experts

Events

22 h. ago Voices: Inflation has delivered a nasty shock – but don’t panic just yet...

The Bank of England can still cut rates at its August meeting, reassures James Moore. So, this blip may prove temporary...

Economics

25 h. ago Will interest rates be cut in August? The key factors for the Bank of England and 2025 predictions

Experts expect a split vote at the MPC’s meeting on 7 August

Politics

26 h. ago Households face new squeeze as June inflation unexpectedly jumps to 3.6%

The “grim” jump in inflation to an 18 month high is not expected to prevent an interest rate cut next month

Economics

26 h. ago Inflation jumps to highest level for nearly 18 months as food prices rise again

The Office for National Statistics said Consumer Prices Index inflation rose to 3.6% in June, up from 3.4% in May.

Economics

38 h. ago Bank of England to find replacement for UK’s outdated payment system

BoE governor says revamping old infrastructure ‘must be a priority’ in his Mansion House speech

Economics

38 h. ago ‘Urgent’ need for digital reform of banking payments, says Bank of England boss

Governor Andrew Bailey said he remained sceptical over the need for a digital pound, stressing that innovation in payments should be a priority.

Economics

58 h. ago Reeves hails ‘instant impact’ for aspiring homeowners as red tape is cut

Chancellor Rachel Reeves is expected to say on Tuesday that she has placed financial services ‘at the heart of the Government’s growth mission’.

Politics

66 h. ago Voices: If interest rates fall, could the 3 per cent mortgage make a comeback?

The governor of the Bank of England has hinted at a cut in rates thanks to the government’s decision to tax jobs. James Moore shares the welcome news that mortgages will get cheaper – but adds a note of caution

Politics

3 d. ago Tax rises: Freeze on income tax thresholds for millions left on table by Treasury minister Darren Jones

The Government has promised not to raise the ‘headline rate’ of income tax but has left open the possibility of freezing the thresholds for paying the levy

Politics

3 d. ago Income tax threshold freeze for millions beyond 2028 left on table by Treasury minister Darren Jones

The Government has promised not to raise the ‘headline rate’ of income tax but has left open the possibility of freezing the thresholds for paying the levy

Politics

3 d. ago Bank of England governor says jobs slowdown could prompt rate cut; European markets fall after Trump tariff threat – business live

Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: “I think the path [for interest rates] is down”.Donald Trump’s threat to impose a 30% on European Union imports from next month is weighing on European stock markets this morning.Most of Europe’s markets have dropped at the start of trading, pulling the pan-European Stoxx 600 index down by 0.6%.Inadvertently or otherwise the President is testing the market’s patience. At a time when investors had seemingly brushed aside the likelihood of the base line of tariffs settling at 10%, the new pronouncements suggest a level of between 15% and 20% being the norm, with additionally punitive numbers on the likes of Canada at 35% adding to the uncertainty.The so-called “TACO” trade will therefore be tested again, with markets drifting in the US on Friday and futures currently suggesting a similar fall today. In addition, and as the new 1 August extension approaches, nerves are likely to jangle. Continue readi...

Economics

3 d. ago Bank of England could make cuts to interest rates if jobs market slows down, Bailey says

Businesses are ‘adjusting employment’ as a result of Rachel Reeves’ decision to raise national insurance contributions for firms, governor says

Economics

3 d. ago Bank of England could cut base rate if jobs market continues to slow – Bailey

Businesses are ‘adjusting employment’ as a result of Rachel Reeves’ decision to raise national insurance contributions for firms, the governor said.

Economics

5 d. ago Bank of England will monitor cash acceptance on ongoing basis

Dame Meg Hillier, chairwoman of the Treasury Committee, described the development as a ‘positive first step’.

Economics

5 d. ago After the economy shrinks again, summer rate cut 'looks inevitable'

Experts said that, combined with signs of a deteriorating jobs market, it would add further pressure on the Bank of England to cut interest rates.

Economics

7 d. ago Bank of England fines Mastercard’s Vocalink £11.9m over compliance failures

Vocalink says it processes more than 90% of salaries, 70% of household bills, and 98% of state benefit payments in the UK.

Economics