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Inflation hits 2.5%

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Office for National Statistics (ONS) figures show that inflation continued to rise in June, with the Consumer Price Index (CPI) rising to 2.5% last month. The figure exceeds May’s 2.1% and analyst forecasts of a 2.2% climb. It also marks the highest level since August 2018. On a monthly...

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Business confidence at highest level since 2005

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The latest business trends report from BDO shows business confidence in the UK has surged to its highest level since 2005 as companies look ahead to the final lifting of lockdown restrictions later this month. The rise was driven primarily by the manufacturing optimism index, reflecting growing global economic...

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Hodge: Most BTL trust brokers to find the best loan

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New research by Hodge has found nearly three-quarters of portfolio buy-to-let landlords prefer to access finance through a broker, rather than go directly to lenders. The NACFB Patron’s research, which asked portfolio buy-to-let landlords and brokers for their views, also found that 71% of larger investors specified that a...

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Rising interest rates threat to national debt

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With Britain now burdened with a record peacetime deficit, the Office for Budget Responsibility (OBR) has warned that increasing interest rates to dampen inflation could make the country’s debts “unsustainable” and cause serious damage to the wider economy. In a scenario that sees the Bank of England respond to...

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SMEs embrace shift to hybrid working

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A poll of 500 SME leaders conducted for cloud-based communications provider NFON suggests many are rethinking their home-working policies. Reflecting a shift in how staff work, 27% are planning to downsize or exit offices as soon as their lease allows. This equates to over 1.7m small businesses across the...

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Borrowers warned over ‘honeytrap’ mortgages

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Borrowers have been warned to avoid mortgage “honeytraps” that appear to be better deals than they are, after lenders hiked product fees. The average fee charged on a fixed-rate mortgage rose by £57 year-on-year to reach £1,075 this month, according to analysis by Moneyfacts, as competition between banks and building societies has...

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Small businesses edge back to health

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Analysis of business records by Xero has found that small businesses are gradually seeing their sales move back toward pre-pandemic levels. However, while results for hospitality were the most promising since August 2020, sales have been slow to rebound and jobs remain down over 20% year-on-year. In contrast, retail...

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