Economy NEWS

General Electric to cut 12,000 jobs

General Electric has announced that it will cut 12,000 jobs in the power section of its business, representing 18% of the division’s global workforce according to a BBC News report. The industrial group … Continue reading “General Electric to cut 12,000 jobs”


New government rail strategy to unite train operation and track management

A new government rail strategy is set to deliver major changes to the UK’s railways. The one-size-fits-all approach to franchising would be brought to an end, while teams could be created to link … Continue reading “New government rail strategy to unite train operation and track management”


Think tank gives bleak outlook for UK economy

The UK is set to see the longest fall in living standards in 60 years, according to the Resolution Foundation. The think tank has said that disposable incomes in the UK are set … Continue reading “Think tank gives bleak outlook for UK economy”


UK budget sees SDLT cut for first-time buyers

Stamp Duty Land Tax (SDLT) is to be abolished for most first-time buyers in England and Wales under Chancellor Philip Hammond’s budget, as reported by BBC News. Purchasers buying their first home will … Continue reading “UK budget sees SDLT cut for first-time buyers”


UK government plans to build 300,000 homes a year

The UK government plans to build 300,000 homes a year in a bid to ease the housing crisis, according to BBC News. Chancellor Philip Hammond has said the pledge will be made in … Continue reading “UK government plans to build 300,000 homes a year”


Spending rate falls to lowest since 2014

UK shoppers were spending less in October than at any point in the last four years, according to a survey by payments provider Visa as reported by Reuters. Consumer spending fell by 2.0% … Continue reading “Spending rate falls to lowest since 2014”


Rise in UK consumer spending

UK consumer spending in September rose at the fastest rate so far in 2017, with the exception of a peak in April around Easter, according to Reuters. A survey revealed that  price rises … Continue reading “Rise in UK consumer spending”


Legal & General invests £40m into employee loan fintech startup

Legal & General has invested £40m into a fintech startup that partners with employers to offer loans to workers, according to Business Insider UK. SalaryFinance was started by Dan Cobley, former MD of … Continue reading “Legal & General invests £40m into employee loan fintech startup”


Amazon to be hit with €13bn EU back tax claim

The European Union is set to claim millions of Euros from Amazon in back taxes, according to the Financial Times. The EU’s competition commissioner Margarethe Vestager has been leading an investigation into the … Continue reading “Amazon to be hit with €13bn EU back tax claim”


British sugar industry set to boom following quota removal

The UK sugar industry is set to increase production as 50-year-old European Union quotas come to an end, according to BBC News. The quotas were agreed in 1968. They restrict the amount of … Continue reading “British sugar industry set to boom following quota removal”


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