Lloyds Bank sets out new plans to buy 50,000 homes


Lloyds Bank sets out new plans to buy 50,000 homes

Lloyds Banking Group is reportedly planning to become one of the UK’s biggest landlords, according to the Financial Times. The banking giant is aiming to buy 50,000 homes in the next 10 years and charge tenants rent as a private landlord. The Financial Times said that Lloyds Banking Group has launched the ‘Citra Living’ brand…

London takes aim at New York with five-year financial plan


London takes aim at New York with five-year financial plan

Britain needs to ease taxes on banks and make it easier to hire staff from abroad, its financial and professional services lobby said in a blueprint to help London unseat New York as the world’s top international financial center within five years. The strategy paper on Tuesday from TheCityUK reiterated some ideas already aired in…

UK house prices bounce back unexpectedly in August


UK house prices bounce back unexpectedly in August

British house prices rebounded surprisingly strongly in August, chalking up their second-biggest monthly rise in 15 years after a fall the month before when a pandemic-era tax break began to be phased out. Mortgage lender Nationwide Building Society said British house prices rose by 2.1% month on month in August after a 0.6% fall in…

Amazon is offering a £1,000 joining bonus for new UK staff


Amazon is offering a £1,000 joining bonus for new UK staff

Amazon is offering four-figure ‘golden hellos’ to new warehouse recruits in a bid to overcome a staff shortage and anticipated boom in online shopping. New warehouse workers will be handed £1,000 bonuses while the world’s fourth most valuable company is also offering full-time and contract workers immediate starts, flexible hours and pay of up to…

UK house prices rise at fastest rate since 2004


UK house prices rise at fastest rate since 2004

House prices are rising at their fastest rate in almost 17 years after a dash to beat a stamp duty holiday deadline in England and Northern Ireland pushed the annual rate of property inflation to 13.2% in June. Figures from the Office for National Statistics showed the average house price across the UK increased by…

UK aims to conclude Pacific trade group talks by end of 2022


UK aims to conclude Pacific trade group talks by end of 2022

The UK aims to wrap up negotiations to join the trans-Pacific trade group by the end of 2022 and hopes that the US can be persuaded to rejoin the bloc, according to the international trade secretary. In an interview with the Financial Times’ Payne’s Politics podcast, Liz Truss said that negotiations with the group of…

UK job vacancies at record high as wages pick up


UK job vacancies at record high as wages pick up

Job vacancies have hit a record high as the UK’s labour market continues to “rebound robustly”, according to the latest official figures. The number of vacancies hit 953,000 in the three months to July, the Office for National Statistics (ONS) said. The unemployment rate fell to 4.7% in the three months to June, while the…

Lord of the Rings: Amazon moves show to UK from New Zealand


Lord of the Rings: Amazon moves show to UK from New Zealand

Production of the new Lord of the Rings television series will move to the UK from New Zealand, Amazon Studios has confirmed. The as-yet-untitled fantasy epic is set thousands of years before the events in JRR Tolkien’s books The Hobbit and The Lord of the Rings. It is a major blow for New Zealand’s entertainment…

UK economy grows 4.8% in second quarter


UK economy grows 4.8% in second quarter

Britain’s economy surged forward in the second quarter, growing 4.8 per cent as consumers eagerly spent money following the easing of coronavirus restrictions and the progress of the country’s vaccination programme. The rapid quarter-on-quarter growth rate allowed the economy to recover much of the ground lost over the past two years. Still, it produced 4.4…

UK forecast to return to pre-pandemic level early


UK forecast to return to pre-pandemic level early

The United Kingdom economy could return to its pre-pandemic level by the end of the year, some six months earlier than previously predicted, according to economic forecasting group EY Independent Treasury Economic Model, or the EY ITEM Club. According to its latest quarterly report, the economy is set to grow at its fastest rate in…