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Business

UK fines PwC $8.9m over audit breaches

PricewaterhouseCoopers, also known as PwC, gets a fine of $8.9 million from UK’s regulatory body over “serious breaches” discovered in Babcock International’s audits. Reuters reported that the Financial Reporting Council said the fine is the penalties related to the multinational’s audits failure of Babcock’s accounts up to the end of March 2017 and 2018. There […]

An energy bill notification on phone
Business

Uk energy regulator reduces power bill price cap

UkThe Office of Gas and Electricity Markets, a UK energy regulator, on Monday reduced its price cap on energy bills for households starting April. According to Reuters, Ofgem lowered the cap to a yearly cost of 3,280 pounds ($3,925.18) from the current 4,279 pounds for a dual-fuel household, which shows a reduction in the wholesale […]

A photo showing an empty tray usually meant to salad items by Reuters
Business

Salad shortage may last another month, says UK govt 

The United Kingdom’s government has said that there may be a continued shortage of salad staples, including tomatoes, cucumbers and peppers, for another month. Reuters reported that Britain’s biggest supermarket group Tesco joined its competitors Asda, Morrisons and Aldi to impose a limit on the purchase of salad fruits and vegetables. This was after southern […]

Flag of United Kingdom
Business

UK’s inflation drops to 10.1% in Jan 2023 – Report  

The UK recorded a fall in Consumer Price Inflation rate dropped beyond expectations from 10.5 in December to 10.1% in January. The closely watched measures of price growth also dropped according to official data. A prediction by the economists polled by Reuters stated that the CPI would drop in January by 10.3% from the 11.1% […]

A picture depicting a decline in currency, recession
Business

How UK narrowly escaped recession in 2022 – Report

The economy of the United Kingdom narrowly escaped recession at the last quarter of 2022. This was reported by Reuters according to the figures from the Office for National Statistics that was disclosed on Friday. The figures showed zero growth from October to December, 2022. It managed to escape the technical definition of recession. Reuters […]

Business

UK health workers commence historic strike over pay

The United Kingdom’s health workers have commenced their largest strike on Monday over pay. Tens of thousands of nurses and ambulance workers have marched to experience their greiviances over low pay, putting pressure on the National Health Service run by the state government. It was reported that the two categories of health workers, the nurses […]

UK predicts rapid fall in inflation rate
featured News

UK predicts rapid fall in inflation rate

The Bank of England Governor, Andrew Bailey, has said that there would be a likely rapid fall in inflation this year as the prices of energy declines. While he spoke to Media Wales, Mr Andrew said that the recently experienced ease of inflation could be a positive sign that “a corner has been turned”. The […]

Pollution: Shell to pay Nigerian farmers €15m compensation
News

Shell to pay first tax in UK since 2017

Following significant global gains last year, Shell has announced that it will pay taxes in the UK for the first time since 2017. In the last three months of the year, the energy company predicted that profits in the UK and the EU would “take a knock” of about $2 billion (£1.7 billion). In order […]

UK passport control staff strike at airports
Aviation

UK passport control staff strike at airports

Military personnel stood in for passport control staff at UK airports on Friday as Border Force officers walked out in an escalating wave of public sector strikes over pay. Around a quarter of a million passengers were due to arrive at the six affected airports on Friday ahead of the busy Christmas holiday weekend. But […]

Liang
Business

Nigeria: UK to fund women-owned businesses with $100m

The British High Commissioner to Nigeria, Ms Catriona Laing, Wednesday said the United Kingdom government has launched a $100 million program through the First Bank of Nigeria as direct funding to women-owned enterprises in Nigeria. Laing made this known at the ongoing Gender and Inclusion summit organised by the Policy Innovation Center, an initiative of […]

Economy

UK economy shrinks by 0.2%, recession looms

The United Kingdom appears to be heading into recession after the latest official figures showed the economy shrank between July and September.   BBC reported that the economy contracted by 0.2% between July and September as soaring prices hit businesses and households nationwide.   A recession is a significant, widespread, and prolonged downturn in economic […]

Queen's funeral to affect UK economy after rebound
Economy

Queen’s funeral to affect UK economy after rebound

The UK’s recession-threatened economy rebounded in July, data showed Monday, but is set to receive a further hit from a public holiday marking next week’s funeral of Queen Elizabeth II. British gross domestic product expanded 0.2 percent after a drop of 0.6 percent in June, the Office for National Statistics said in a statement. June’s […]

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  • 12th September 2022
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