In a recent statement, the Government has said that consumers will no longer be charged extra for using credit or debit cards when purchasing goods. As of January 2018, businesses will no longer be allowed to add on any surcharges for payments that are made by cards. Businesses that often add[...]
The UK inflation rate was pushed up to 2.9% last month, due largely to the rising cost of foreign package holidays and imported computer games. The rate is up from 2.7% in April 2017. This inflation rate is the highest since June 2013 and is above the Bank of England’s 2% target.
According to official figures from the Office for National Statistics (ONS) the productivity of UK workers has fallen to pre-financial crisis levels. The hourly output fell by 0.5% during the first three months of the year. At the end of 2016, productivity had returned to the level that was seen[...]
A new report has shown that the UK’s budget deficit narrowed in May, aided by a recovery in value added tax receipts. The Office for National Statistics published that the deficit in May was at £6.7bn; down £300m compared with the same month in 2016. The financial year-to-date shows the amount of[...]
Despite several Brexit shocks, the UK is expected to remain attractive for businesses. One year on from the EU Referendum, businesses have proven their resilience despite the anticipated downturn in investment. In the last three months of 2016, companies’ profits totalled over 105 billion pounds[...]
New data from The Office for National Statistics (ONS) has shown that retail sales in May fell as shoppers felt the effects of higher inflation. The quantity of goods sold between April and May are said to have fallen by 1.2%, which was worse than economists expected.
Following a nine-year battle, a High Court judge has agreed to stop the case between RBS and its disappointed shareholders. The majority of the RBS Shareholders Action Group of 9,000 investors has agreed to a £200m settlement sum, after the £12bn failure back in 2008. Thirteen per cent of the[...]
According to official figures released by the Office for National Statistics (ONS) the UK’s economy grew slower in the first three months of the year than originally expected. The figures now say that the economy expanded by 0.2% during the first quarter when it was expected to grow by up to 0.3%.
Royal Mail has delivered its results for the full year ending 26th March 2017. The results revealed that their annual profits have increased 25 per cent, due to better than expected growth. The company’s pre-tax profits rose to £335m from £267m in the year leading to March 2017 and revenues grew by[...]
Car giant Toyota has seen its profits fall for the first time in five years. The Japanese firm said that it sold more cars in the year to March 2017 than it had done in the previous 12 months, however higher costs and fluctuations in currency affected their results.
