Under pressure from its MPs, the government has been forced into a series of embarrassing U-turns since the mini-budgets, including climbing down on a plan to scrap the top rate of income tax. Experts believe that chancellor Kwasi Kwarteng will have to row back on more of his tax cuts or drastically cut public…
An increase in National Insurance is reversed and low-tax investment zones will be set up across the UK. The cap on banker’s bonuses is lifted and a planned rise in corporation tax from 19 per cent to 25 per cent in April 2023 was scrapped. The basic rate of income tax is cut to 19p…
In the past when the oil prices rose, Saudi Arabia, which sits on an estimated 80 years of oil reserves at the current rate of production, came to the rescue with a positive response, but during the 2008 spike that pushed the oil to $147 per barrel, Riyadh’s oil ministry formed a team to protect…
After the 2008 financial crisis, when the critical attention shifted from the economy to the most fundamental feature of all market economies, money, 2022, is turning out to be the year that puts the politics back into the monetary policy, with the impending fight for the next Conservative party leader between Rishi Sunak and Liz…
The Bank of England’s (BoE) Monetary Policy Committee has announced interest rates are rising from 1.25 per cent to 1.75 per cent. Interest rates have crossed the highest level since December 2008 after the biggest single rise since 1995, favoured by eight of the nine members of the BoE’s Monetary Policy Committee who voted…
BP, the energy giant has reported its biggest quarterly profit for 14 years after oil and gas prices soared, hitting £6.9 bn ($8.45bn) between April and June – more than triple the amount it made in the same period last year, amid a typical household energy bills been forecast to hit more than £3, 600…
Inflation is here to stay, with rising prices and a “cost of living crisis” at the top of the economic, political, and social agenda. The central banks and monetary policy have again come under the spotlight. While the issues change, the debate over how monetary and financial stability can best be sustained abides, Twenty-First Century…
Private equity was once an investment niche, but today the wealth controlled by its leading firms surpasses the GDP of some nations. Private equity has overtaken investment banking- and well-known names like Goldman Sachs and Morgan Stanley as the premier destination for ambitious financial talent, as well as the investment dollars of some of the…
Disney CEO Bob Chapek has been one of the most vocal entertainment industry chiefs about the possibilities of Metaverse as a part of the canvas for creatives, which first emerged as a concept in the imagination of science fiction writers. Although everybody seems to be talking about Metaverse, no one can agree on what the…
Inflation leaps from seven per cent in March was as much in a single month as the Bank of England’s inflation target for an entire year, as the petrol prices hit a new all-time high of £1.67 at the pump and City experts cautioned that supermarket and energy bills, as well as the mortgages, will…