Inflation

Sunak's Conservatives and the main opposition Labour party are jockeying for position ahead of a general election expected next year.

British businesses reported their busiest month in a year and consumers turned more confident.

Over a third of the organisations across the UK's critical national infrastructure (CNI) anticipate a rise in cybercrime as a direct result of the current economic crisis.

The dollar strengthened on Wednesday, lifted by rising Treasury yields, though the pound gained against the greenback after British inflation stayed above 10% in March and put more pressure on the Bank of England to keep raising rates.

Britain was the only country in western Europe with double-digit inflation in March after it fell less than expected, official data showed on Wednesday, bolstering bets that the Bank of England will raise interest rates again in May.

A hike in expected US inflation over the next year comes ahead of next month's federal reserve decision on interest rates. Meanwhile, OPEC cuts increase the price of oil.

Bank of England Chief Economist Huw Pill said on Thursday that the latest data on the economy, including a stagnation of gross domestic product in February, is "somewhat disappointing" even if it remains better than forecast by the BoE late last year.

The Office for National Statistics reported that the "prices of food and non-alcoholic drinks rose at the fastest rate in more than 45 years in the 12 months to February 2023."

Sainsbury's, Britain's second-largest supermarket group, on Tuesday began offering lower prices on more than 300 items to the 18 million members of its Nectar loyalty scheme, rivalling a similar initiative at market leader Tesco.

A total of 153 pubs shut in the first quarter compared with 104 during the first three months of 2022

The International Monetary Fund warned on Tuesday that lurking financial system vulnerabilities could erupt into a new crisis and slam global growth this year, but urged member countries to keep tightening monetary policy to fight persistently high inflation.

Despite the tough economic challenges that have rattled the UK in recent years, opportunities are ripe for UK SMEs to innovate and flourish like never before.

As both businesses and individuals suffer from the high cost of living and inflation of 10.4 per cent, employers can support their employees in many ways without breaking the bank.

A combination of sticky high interest rates and lacklustre global growth could push a number of emerging economies that are facing soaring refinancing needs into debt difficulties next year.

Global growth almost halved last year to 3.4 percent as the impact of Russia's invasion of Ukraine rippled through the world economy.

England and Wales are home to nearly four million Muslims, and just under 40 percent of them live in the most deprived areas, according to census data released last year.

The hospitality sector says energy price hike of £7.3 billion is unsustainable in the wake of reduced government support, as it also faces reduced consumer spending

European inflation presents a mixed bag, with eases in inflation when energy and food prices are included in measures, but persistence when excluded.

About half of Canadian businesses see a mild recession over the next year, the Bank of Canada said on Monday in a first quarter survey, fewer than in the fourth quarter, and most are bracing for inflation to stay above 2% until at least 2025.

Global factory activity weakened in March as consumers feeling the pinch from rising living costs cut back, surveys showed on Monday, suggesting a deteriorating outlook will remain a drag on economic recoveries and keep policymakers on their toes.

Food inflation has risen by 15 per cent in a year, as prices in Britain's shops reach unprecedented levels. Experts say retailers must focus on their price differentiation strategy as consumers' purse strings "continue to feel the squeeze".

Britons already reeling from the biggest rise in food prices since 1977 may have to get used to shortages of fresh vegetables as soaring costs and unpredictable weather hit domestic production.

As worker shortages plague the UK economy amidst a cost of living crisis, new research shows good communication is key to talent retention.

A recent survey reveals that the UK workforce is divided over Jeremy Hunt's Budget announcements, with the CEO of CV-Library stating that "personal finances remain the key driver for the overwhelming majority".

Bank of England policymakers will not have looked at Wednesday's inflation data with the same enthusiasm as sterling traders, who took advantage of a shock jump to push the pound up, confident that a rate hike this week is now a done deal.

Traders and economists remain split on whether the Federal Reserve will raise its benchmark policy rate on Wednesday.

As Lebanon's economy continues to collapse, an array of exchange rates for the local pound has emerged.

Wall Street looked set to open higher on Tuesday after consumer prices in the world's largest economy rose in line with expectations, bolstering bets of a smaller interest rate hike by the Federal Reserve at its next meeting.

British Prime Minister Rishi Sunak said on Friday that his government would prioritise reducing the country's debt over cutting taxes in next week's budget.

Businesses are "on their knees" thanks to energy prices, inflation and the wage crisis, according to Michael Queenan, co-founder and CEO of Nephos Technologies.