ECONOMY

A new survey found that almost half of new parents have got into debt over childcare expenses and 25 per cent of mothers on maternity leave are skipping meals to cut costs.

The UK signed its first economic partnership with an African country this week as it seeks to enhance trade relations with Nigeria, especially in the exports and imports of financial and legal services.

The agreement, which covers the majority of goods, is extended for an additional five years, providing much-needed economic support to Ukrainian businesses impacted by the war.

According to official data published by the National Bureau of Statistics, China's consumer price index fell by 0.8 per cent in January 2024, compared to that of January 2023.

A new AI regulation white paper has called for strict changes AI regulatory framework including supporting UK regulators with £100 million in funding to develop technical systems to monitor AI systems.

The new data, derived from experimental results within the Labour Force Survey, could potentially exert pressure on the Bank of England to reconsider any immediate plans for interest rate cuts.

The costs borne by farmers, notably for energy, fertiliser, and transport, have escalated in numerous EU countries, particularly since Russia's invasion of Ukraine in February 2022.

The movement restrictions imposed by Brexit on Britons, including second-home owners, has had a detrimental effect on EU economies. But, could it all change?

The report's focus encompassed the concentration of employers, the prevalence of non-compete clauses and the recent surge in hybrid working arrangements.

A recent study conducted by the EY Item Club, a prominent forecasting body sponsored by EY, suggests that the nation is poised for a resurgence in the latter half of the year.

The United Kingdom experienced an unexpected rise in inflation to 4.0 per cent in December, marking the first increase in the past 10 months.

As the next general election approaches, MP Rachel Reeves will introduce JP Morgan investors to Labour's plan to regrow the British economy.

To protect Kyiv from bankruptcy, the UK and Ukraine have launched a tech programme that will allow for international networking and business collaborations.

The Office For National Statistics reports that the annual rate of growth in earnings, including annual bonuses, has slowed to 6.5 per cent.

Wealth inequality has become a highly divisive issue.

The world's billionaires have collectively become £2.6 trillion richer since 2020, growing their wealth at a rate three times faster than inflation.

Three prominent forecasters – Oxford Economics, Investec, and Deutsche Bank – have issued updates indicating a potential halving of the inflation rate to two per cent by April, forcing the Bank of England (BoE) to reconsider its timeline for the first interest rate cut.

The UK government has announced a civil nuclear roadmap that seeks to revive the UK nuclear sector with a plan to build new nuclear reactors, fuels, and technology, adding UK jobs across the country.

Three prominent forecasters, including Oxford Economics consultancy, Investec, and Deutsche Bank, have revised their outlook for inflation in 2024.

The UK has launched a unique nuclear fuel production programme called the HALEU programme which powers nuclear reactors previously fueled by Russian fuel, fulfilling its COP28 promise of reducing Russian fuel dominance.

Around 1.5 million households are anticipated to have increased mortgage costs due to the housing crisis as the period of fixed-rate deals is ending.

Research shows that a record number of children have been forced into temporary accommodation this winter, including shipping containers and shared rooms.

The UK government has revealed how its Green Recovery Challenge Fund helped add more green jobs and saved hectares of land across the UK through 150 environmental projects.

The energy price cap in Great Britain is set to decrease by 14 per cent, anticipated to bring down annual bills by an average of £268.

Jeremy Hunt says that wages will go up as prices go down next year after it was announced that the rate of inflation has decreased to 3.9 per cent.

Consultancy firm Cornwall Insight says bills could drop by £268 a 16 per cent decrease – in line with the official price cap set by the UK's energy regulator Ofgem.

As inflation continues to dominate low-income households across the UK, the government have offered to fund their transition towards green energy.

As Russian President Vladimir Putin continues to deny an economic crisis, the UK and its NATO allies have implemented further sanctions on Russian businesses.

The BRICS alliance – comprising Brazil, Russia, India, China, and South Africa – is gearing up for expansion.