Record numbers off work due to long-term sickness
Long-term ill health prevents 2.5 million people from working, according to a new report. The Society of Occupational Medicine (SOM) found that, of the 41.6 million people of working age…
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No change in UK interest rate
For the first time since November 2021, the Bank of England has voted to leave borrowing costs unchanged. Interest rates were held at 5.25% a day after inflation fell by…
Sharp rise in pub closures
The pub industry has called for urgent reform of business rates after new figures showed a 50% increase in the number of pubs shutting their doors for good. Statistics compiled…
Cash payments rise for first time in a decade
UK consumers are making more payments with cash to help manage their spending, according to figures from UK Finance. The number of cash transactions grew in 2022 for the first…
Pay growth overtakes inflation
UK households' spending power has increased, with new figures showing that wage growth in July was higher than inflation for the first time in more than a year. Regular pay,…
BMW invests in all-electric Mini production in the UK
BMW has announced a major new investment in its Oxford plant after securing a reported £75m in support from the UK government. The German car giant said it will invest…
Renewable energy auction fails to deliver new offshore turbines
There were zero bids to establish new wind energy projects off the UK coast in a key government auction this week. Companies were invited to submit bids to develop renewable…
Average house prices down £14,000 in a year
House prices are continuing to fall across the UK as high interest rates make it harder for buyers to afford a new mortgage. The latest monthly report from Halifax shows…
Retail sales bounce back as confidence rises
UK retail sales improved in August as shoppers "splurged on self-care", according to the latest monthly report from the British Retail Consortium (BRC) and KPMG. Total retail sales increased by…
Fuel prices jumped in August
The price of petrol at forecourts across the UK increased by nearly 7p (6.68p) per litre in August, while diesel went up by 8p, RAC data shows. This represents the…
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