Lib Dem MP Layla Moran targets rise in BAME board directors

Britain’s top companies will be tasked with hiring more boardroom directors from black, Asian and minority ethnic backgrounds under plans being drawn up by the Liberal Democrats leadership candidate Layla Moran. Announcing the policy in the wake of the Black Lives Matter protests around the world, the favourite to replace Jo Swinson as Lib Dem […]

UK Budget Deficit At Record High; Retail Sales Rebound

The UK budget deficit reached a record high in May and government debt exceeded 100 percent of GDP for the first time since 1963 due to public health measures and economic stimulus adopted by the government amid coronavirus pandemic, official data showed Friday. Another data showed a sharp rebound in retail sales driven by non-food […]

UK Private Sector Logs Sharp Contraction In May

UK private sector output remained on a steep downward trajectory in May as lockdown to curb the spread of coronavirus, or Covid-19, weighed on almost all business activity, the flash survey results published by IHS Markit revealed on Thursday. The flash IHS Markit/Chartered Institute of Procurement & Supply composite output index rose to 28.9 in […]

UK Inflation Slowest Since 2016; Output Prices Turn Negative

UK inflation slowed to the lowest since 2016 in April and factory gate inflation turned negative for the first time since mid-2016 as the coronavirus lockdown has weighed on global oil prices, data from the Office for National Statistics showed Wednesday. Consumer price inflation eased to 0.8 percent in April from 1.5 percent in March. […]

Huawei warns UK not to make a U-turn on 5G plans

HUAWEI has warned that changes to its involvement in the UK 5G rollout would do the country a "disservice". The Chinese telecoms giant received limited approval earlier in the year to help build Britain's 5G network. ⚠️ Read our coronavirus live blog for the latest news & updates The warning came in the form of […]

UK Service Sector Contracts Most Since 1996

The UK service sector registered its steepest downturn in more than two decades in March due to business shutdowns and order cancellation in response to the coronavirus, or covid-19, pandemic. The services Purchasing Managers’ Index fell to 34.5 in March from 53.2 in February, survey data from IHS Markit and Chartered Institute of Procurement & […]

UK House Price Growth Fastest Since Early 2018: Nationwide

UK house prices grew at the fastest pace in more than two years in March before the coronavirus, or covid-19, pandemic struck the economy, data from the Nationwide Building Society showed Thursday. House prices grew 3 percent year-on-year in March, following February’s 2.3 percent increase. This was the fastest growth since January 2018. Prices were […]

British Gas braces for steep drop in revenues because of coronavirus

British Gas is bracing for a steep fall in revenues due to the coronavirus pandemic, as households delay paying their bills and its business customers close their sites. The owner of Britain’s largest energy supplier abandoned its cash flow forecasts for the year because it cannot predict how many households will be able to pay […]

UK government orders 10,000 ventilators from Dyson

London (CNN Business)Houseparty, one of the video calling apps keeping people connected around the world during the coronavirus pandemic, has offered a $1 million reward to anyone who can prove it has been sabotaged. Houseparty, owned by online gaming firm Epic Games, has offered up the huge bounty following an explosion of online rumors that […]

BoE Holds Rate, QE; Sees Risk Of Longer-Term Damage From Covid-19 Outbreak

Policymakers of the Bank of England unanimously decided to hold the interest rate at a record low and asset purchase programme and signaled further easing if required. The bank also noted risk of longer-term damage to the economy from the coronavirus, or covid-19 outbreak. At the regular policy meeting, the Monetary Policy Committee governed by […]