Britain Financial News

'Today’s Autumn Statement demonstrates the pressure the government is under with an election imminent over the coming year.' Picture by Simon Dawson / No 10 Downing Street

The value of the pound declined slightly against the dollar following Chancellor Jeremy Hunt’s speech, from $1.254 to $1.246.

MILAN (Reuters) — Euro zone interest rates are close to their peak in the current cycle or may have already reached it, European Central Bank Governing Council member Joachim Nagel said on Wednesday, adding data would determine whether they needed to rise further.

By Naomi Rovnick, Samuel Indyk, Lucy Raitano and Harry Robertson

NEW DELHI : Online self-publishing and audiobook portal Pratilipi, which has diversified from text to audio and now comics, has found a bunch of mainstream partners to churn out different versions of its successful stories. From Disney+ Hotstar and Audible, the online audiobook service owned by Amazon, to music label and film production house T-Series, the company believes in keeping intellectual property (IP) at the centre of its strategies and leverages its literature to bring out podcasts, comics and, now, web series.

The regulator must post a notice explaining why the measure has been taken, a duration of impact and regularly review the prohibition or restriction.

The new measure will be implemented from 6 January 'so people can see the benefits in their payslips from the start of the New Year'.

The value of the pound declined slightly against the dollar following Chancellor Jeremy Hunt’s speech, from $1.254 to $1.246.

The government said it will extend them by a decade to 6 April 2023, after the Treasury confirmed last month the clauses would be expanded to April 2025.

UK’s economic growth forecasts had been downgraded, a blow for Rishi Sunak’s government going into an expected general election next year. The economy is due to grow 0.7% in 2024 and 1.4% in 2025, Hunt said in the House of Commons on Wednesday as he delivered his Autumn Statement, citing forecasts from the Office for Budget Responsibility. The OBR had previously forecast 1.8% growth for 2024 and 2.5% for 2025.

The FCA is considering “interim solutions” to mitigate the impacts on the investment company sector in the short term, as the government “acts to implement a long-term legislative solution to the issue”.

Copyright HM Treasury

Inflation is expected to average 4.8% in the final quarter of this year, 1.9 percentage points higher than in the March forecast.

LONDON (Reuters) — Britain's Office for Budget Responsibility revised down its estimate of the country's medium-term potential growth rate to 1.6% from 1.8%, as an ageing population works shorter hours on average and productivity growth slows.

LONDON (Reuters) — British finance minister Jeremy Hunt on Wednesday said he would cut the amount of National Insurance social security contributions paid by 27 million workers in a move that will save employees hundreds of pounds a year.

By Huw Jones and Carolyn Cohn

Ed Sheeran unexpectedly made a surprise appearance at 50 Cent's London show last night. The Candy Shop rapper's fans were taken aback as the 32-year-old Thinking Out Loud hitmaker emerged from beneath a box labeled 'There is a monster in this box,' singing Shape Of You.

BlackPink on Wednesday received honorary Member of the Order of the British Empire medals in the presence of South Korean President Yoon Suk Yeol during his state visit to the United Kingdom, Buckingham Palace said in its statement. Blackpink received the MBEs because of their roles as COP26 Advocates for the United Nations climate summit held in Glasgow back in 2021, Buckingham Palace said. «First appointed to the role by the UK Government in January 2021, BlackPink encouraged millions of young people to engage with the global UN climate change conference and the topic of climate action,» said the official account of royal family in a post on social media platform 'X.' «It's amazing you're still talking to each other after all these years,» King Charles jokingly said to the band at the ceremony. «I hope I shall be able to see you perform live at some point,» added King Charles.

Addressing the House of Commons with his second Statement as chancellor, Hunt said he would create a “new simplified R&D tax relief”.: Copyright HM Treasury

Jeremy Hunt (pictured) prepares to deliver his Autumn Statement | Copyright: HM Treasury

Chancellor Jeremy Hunt (pictured) delivered his Autumn Statement in parliament today | Copyright HM Treasury