Joe Nellis

3 weeks ago | londonlovesbusiness.com | Sarah Dunsby |Joe Nellis |James Green |Letitia Randell

The Bank of England governor Andrew Bailey has said that due to the “unpredictable” worldwide economic situation the UK’s interest rate cut is “shrouded” in “more uncertainty,” plus the ongoing US-China trade war. During a Treasury Committee meeting Bailey told MPs that they have “genuine concerns” over the trade tensions. Along with members of the Monetary Policy Committee (MPC) they told the committee they do not know if interest rates will hold, be lowered or even raised.

1 month ago | londonlovesbusiness.com | Joe Nellis |Erik Boekel |Sarah Dunsby |Letitia Randell

Ofgem has revealed that household energy bills will fall from July by 7% and a typical bill will drop by around £129 to £1,720 a year when the new price cap starts. Tim Jarvis, director general of markets at Ofgem, said: “A fall in the price cap will be welcome news for consumers, and reflects a reduction in the international price of wholesale gas. However, we’re acutely aware that prices remain high, and some continue to struggle with the cost of energy.

2 months ago | londonlovesbusiness.com | James Green |Joe Nellis |Hani Abuagla |Sarah Dunsby

The Japanese yen experienced a near-term pullback as traders reacted to the latest economic data on trade. March export data showed a sixth consecutive month of growth, but the pace slowed from February and undershot market expectations. Heightened trade tensions, particularly the threat of sweeping U.S. tariffs on Japanese goods, continue to weigh on sentiment.

2 months ago | londonlovesbusiness.com | Joe Nellis |James Green |Sarah Dunsby |Letitia Randell

The Fair Work Agency, which will oversee new rights going to the Lords this week, would be granted powers of arrest on a par with the police – but ministers haven’t made its aims clear. The government is handing extraordinary powers to an unelected body, without offering even the most basic clarity on what it’s meant to achieve.