The Office of National Statistics (ONS) has reported that February 2024 saw inflation fall to its lowest since September 2021, with its headline Consumer Price Index (CPI) now at 3.4%. The fall, down 0.6 percentage points on January's figure, has helped largely by a slowdown in food and drink … [Read more...]
News for: Finance
Food prices fall for first time in two years, reveals ONS inflation data
The Consumer Price Index (CPI), the Office of National Statistics’ (ONS) headline rate of inflation, has held at 4% in January, despite forecasts predicting a small rise. A small rise in inflation in January had been expected as a result of the increase in Ofgem’s energy price cap pushing up … [Read more...]
CPI falls to lowest rate in two years
The Office of National Statistics' (ONS) headline measure of inflation, the Consumer Price Index (CPI), fell to 3.9% in November, its lowest rate since 2021. The latest fall brings inflation down further from 4.6% in October. Driving the slowdown in price rises was a number of staple food and … [Read more...]
Northern Powerhouse lender hits £17.5 million funding milestone in the Cheshire & Warrington sub-region
NPIF-FW Capital Debt Finance, part of the Northern Powerhouse Investment Fund (NPIF) managed by FW Capital, has approached £17.5 million of funding to businesses in the Cheshire & Warrington sub-region. The investment has supported over 50 growing firms in the area, and attracted private … [Read more...]
Chancellor sets out Autumn Statement
Chancellor of the Exchequer, Jeremy Hunt, has set out his plans for the economy in his Autumn Statement, presented to the House of Commons on Wednesday 22nd November. Addressing the House of Commons, the Chancellor outlined proposals to grow the economy through boosts to productivity, and to … [Read more...]
Royal London announces acquisition of later-life lender
Alderley Park-based financial services group, Royal London, has announced the acquisition of later-life specialist mortgage broker and lender, the Responsible Group. The Responsible Group was established in 2010, and acquisition by Royal London builds on the financial service provider's existing … [Read more...]
October saw inflation fall to 4.6%
The rate of inflation has fallen to less than half the rate seen at the start of 2023 according to the the Office of National Statistics' (ONS) headline measure of inflation, the Consumer Price Index (CPI). The latest CPI data shows inflation having fallen 2.1 percentage points to 4.6%, down from … [Read more...]
Bank of England keeps interest rates 5.25%
Economists on the Bank of England’s Monetary Policy Committee (MPC) once again voted to hold interest rates at 5.25% when they met on 2nd November. The MPC voted 6-3 in favour of the hold, with those opposing calling for 0.25 percentage point rise in the bank’s base rate, although rates remain at … [Read more...]
One in five SME owners planning to sell by 2025, finds Handelsbanken study
A study conducted for Handelsbanken Wealth & Asset Management has found that one in five SME business owners plan to sell all or part of their business within the next two years. The survey also found a further 11% will seek to downsize during the same period. Of those considering sale or … [Read more...]
Bank of England keeps interest rates at 5.25%
The Bank of England’s Monetary Policy Committee met on 21st September and opted to hold interest rates at 5.25% following a surprise fall in inflation. Economists at the bank voted 5-4 in favour of holding the rate at 5.25%, with those opposing the decision calling for a 0.25 percentage point … [Read more...]
Manchester Airports Group raises £360 million in bond markets
Manchester Airports Group (MAG) has raised £360 million in the UK capital markets through the issuances of an 18-year bond which attracted interest from blue-chip UK investors. The bond, issued at a rate of 6.125%, was four times oversubscribed, totalling around £1.4 billion at its peak, … [Read more...]
Start Up Loans hits £1 billion milestone of support for UK small businesses
The government-backed Start Up Loans scheme, part of the British Business Bank, has delivered more than £1 billion worth of loans to small businesses nationwide since launching in 2012. In the North-west, businesses in the region have secured almost £122 million in 13,020 loans, with an average … [Read more...]