News
The UK economy continues to show resilience, with a July 2024 composite PMI of 52.8, outperforming the Eurozone. Despite challenges like high inflation at 7.9% and a 5.25% interest rate, the UK remains a bright spot in Europe’s economic landscape.
News
Starting October 2024, Ofgem’s energy price cap will increase by 10%, raising the average annual energy bill to £1,717. This rise is due to higher wholesale energy costs driven by global market instability. Households should consider fixed-rate tariffs to manage costs.
Government Policies
Chancellor Rachel Reeves plans to raise taxes and cut spending in the October 2024 budget, aiming to address a £22 billion gap in public finances despite stronger-than-expected economic growth. Tough decisions on welfare and public services are also expected.
News
The educational choices made by British 16-year-olds significantly impact the economy by shaping the future workforce. Balancing academic and vocational paths is crucial for addressing skill shortages in key sectors like technology and green energy, supporting long-term economic growth.
News
In July 2024, UK retail sales rebounded by 0.5%, driven by spending during the UEFA Euro 2024 and summer discounts. However, the recovery was uneven, with sectors like clothing and furniture still struggling amidst broader economic challenges.
News
The UK economy grew by 0.6% from April to June 2024, led by the services sector, particularly IT, legal services, and scientific research. Despite this growth, challenges remain, with flat growth in June and concerns about slowing momentum in the latter half of the year.
News
UK wage growth has fallen to a two-year low, despite an unexpected drop in the unemployment rate to 4.2%. This discrepancy between slowing wage growth and declining unemployment raises concerns about the reliability of labour market data and complicates economic policy decisions.
News
AstraZeneca recently became the first UK company to reach a £200 billion market valuation, driven by its groundbreaking cancer treatments and strategic vision under CEO Pascal Soriot. This milestone sets a new benchmark for innovation and growth in the UK economy.
Brand Success story
Taiwanese cuisine is gaining traction in the UK, thanks to pioneers like Evelyn Lee. Known for its rich flavours and health-conscious appeal, it's carving a niche in the market. Lee's success in bringing authentic Taiwanese products to major supermarkets underscores its rising influence.
News
Cheers Group reported strong growth with June revenue of NT$362 million. The group is expanding internationally by opening its first European branch in London, marking a key milestone. This move is expected to boost the global recognition of Taiwanese cuisine.
analysis
A UK biomass plant's emissions were found to be four times higher than a coal plant, raising sustainability concerns.
News
Barclays scraps EU bonus cap, allowing top bankers to earn bonuses up to 10 times their base salary.
