Economic growth in the UK’s pivotal services sector has slumped to its lowest level for more than two years, new figures show. The IHS Markit purchasing managers’ index (PMI) fell to 50.4 last month from 52.2 in October, indicating stalled growth. It is the lowest level since a sharp decline caused by the Brexit referendum […]
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New immigration curbs on low-skilled workers could cause huge damage to Britain’s economy, the Government has been warned. The head of the Confederation of British Industry says she is ‘very concerned’ by post-Brexit plans to restrict immigration visas for workers earning less than £30,000. Carolyn Fairbairn, the CBI’s Director-General, says the plans risk causing a […]
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Rail passenger groups have reacted with dismay at the news that fares are to rise by around 3.1 per cent in January. The Rail Delivery Group (RDG) confirmed the increase despite calls for fares to be frozen after a year of disruption on the UK’s railway network. The latest hike is based on the Retail Price […]
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Firms looking to stockpile extra food supplies to insure against a hard Brexit are finding that warehouses are fully booked, MPs have been told. Ian Wright, head of the Food and Drink Federation, said storage facilities for chilled and frozen food are at capacity and space for other goods is limited in certain areas. He […]
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Royal Mail has seen its pre-tax profits plunge by more than half for the six months to September. They fell 57 per cent to £33 million despite a rise in revenues of one per cent to £4.9 billion, underlining analysts concerns that its costs are still too high. Rico Black, who took over as Royal […]
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The British airline Flybe has confirmed that it is seeking a buyer weeks after warning shareholders that it was facing a £22m full-year loss. Board members at the Exeter-based operator say they are holding talks with a number of interested parties about a potential sale. Flybe issued a profit warning last month, citing high fuel […]
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Britain’s economic growth will be the joint worst in Europe by next year even if it does leave the EU with a deal, according to European Commission forecasts. The UK will initially share the bottom of the league table for the continent’s worst economic growth with Italy, but will soon sit at the foot of […]
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Chancellor Philip Hammond declared that austerity is coming to an end as he unveiled a package of spending in his 2018 Budget. His pledges included billions for road improvements, social care, the controversial universal credit system and business rate relief for small companies. There was also £400m for schools and a commitment to raise the income […]
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Developers should be hit with tough new penalties for ‘hogging’ development land at record levels according to a new study. The analysis found that so-called ‘land banking’ is at record levels with the worst-ever gap between planning permissions being granted and homes being built. Data from the housing ministry revealed that in 2016-17, planning permission […]
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Billions of barrels of oil and huge amounts of gas could be lying beneath the North Sea, scientists have claimed. Experts at Aberdeen University who studied the offshore industry’s potential to 2050 says 17 billion barrels of oil and substantial supplies of gas are still to be extracted. Dr Linda Stephen and Professor Alex Kemp […]
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