Page 6 - Uk Economy

Bank of England raises rates by most since 1989 even as recession looms

Central bank raises bank rate to 3% from 2.25%

'Inevitable' Britons will pay more tax for stability, say Sunak, Hunt

"They agreed on the principle that those with the broadest shoulders should be asked to bear the greatest burden," the Treasury said

New UK PM Sunak faces dose of reality as economic, political woes mount

The new premier, Sunak's economic policy is set to face scrutiny as the Bank of England delivers what could be its biggest interest-rate hike in more than 30 years

UK in recession? Feels pinch of biggest interest rate hikes in 33 years

Economists and investors expect the UK central bank to raise its benchmark lending rate by three-quarters of a percentage point to 3 per cent on November 3

UK PM Rishi Sunak eyes $58 billion of tax hikes, expenditure cuts

Britain's new premier is trying to restore calm to the financial markets after his predecessor, Liz Truss, sparked turmoil during her 7-week tenure with a massive package of unfunded tax cuts

Suella Braverman could wreck Rishi Sunak's Brexit immigration plans for UK

In her leadership campaign, Braverman pledged to cut taxes and restore efficiency to govt, suspend Britain's net-zero 2050 target, end jurisdiction of European Court of Human Rights

Rishi Sunak shows the growing influence of Indian talent in the West

With Rishi Sunak as prime minister of the UK, it is now impossible to deny what has been evident for some while: Indian talent is revolutionizing the Western world

Rishi Sunak's real challenge as PM is not economic or political but social

Sunak has to govern a fractious and self-indulgent mob, which has resulted from a near-total breakdown of authority of all sorts

Rishi Sunak to be UK's first Indian-origin PM as his rivals quit the race

Youngest to the post in 200 years + Warns UK faces 'profound economic challenge' + FTSE 100 rises .6%

UK crisis: The markets strike back

Liz Truss almost turned the UK into a distrusted emerging economy

Turmoil in Britain: Its political crisis is a self-inflicted wound

Govts should respect fiscal constraints as once confidence is lost in a country's institutions and political maturity, it cannot be easily regained

UK credit score outlook revised to negative by Moody's on political drama

The rating firm said the change in the outlook was driven by "heightened unpredictability in policymaking" in UK amid weaker growth prospects and high inflation

Explained: Why Liz Truss' tenure was so short as UK PM

British Prime Minister Liz Truss took office last month with hopes and promises of reinvigorating the British economy and putting it on the path to long-term success. It didn't go as planned. Watch the video to know why Liz Truss' tenure was so short as UK PM.

Zara enters pre-owned clothing biz, offers repair, resale & donation svces

Zara is moving into the business of pre-owned clothing as the Spanish brand starts offering services for repair, resale and donations in the UK

'I am a fighter, not a quitter', says Truss to an angry Parliament

PM commits to pension spending; no comment on benefits, foreign aid

UK PM 'sorry' for economic 'mistakes' but embattled Truss vows to stay on

UK PM Liz Truss apologised for going "too far too fast" with reforms that caused investor confidence to evaporate and her poll ratings to plunge

British consumers rein in luxury spending as energy bills rise by 48%

British consumers are reining in unnecessary purchases after a leap in energy prices ate into their discretionary spending, forcing people to cut back on new clothes, evenings out and lunches out

UK reverses bulk of September tax-cutting package to calm markets

The UK government has announced a reversal of the bulk of its September tax-cutting measures in yet another emergency action to ensure economic stability

Joe Biden brushes off risks of strong dollar on global economy

The dollar has climbed roughly 15% this year as the Federal Reserve embarked on an aggressive campaign to raise interest rates to tamp US price increases.

Dominant Jeremy Hunt refuses to rule out new U-turn on Truss taxes

Hunt declined to rule out delaying by a year the prime minister's plan to cut the basic rate of income tax, a move that would amount to another U-turn on a key plank of Truss's "mini-budget."