Tesco, the largest supermarket in Britain, is facing scrutiny from the Competition & Markets Authority after allegations that its Clubcard prices could be deceptive for consumers. Which? has voiced concerns that Tesco’s pricing method under its loyalty scheme may confuse shoppers and prevent them from identifying the best deals. This pricing approach has been criticized …
Consumer confidence in Britain reached its highest level in 17 months, with people seemingly unconcerned about the prospect of rising interest rates. Market research firm GfK reported that the mood among Britons rose three points to minus 24 in June, surpassing economists’ expectations of a reading of minus 26. This positive sentiment persists despite the …
The former chancellor suggests that the Government should consider relaxing immigration rules as a solution to the mortgage crisis. Lord Hammond believes that the Bank of England will have to raise interest rates for the 13th consecutive time today, unless ministers are willing to address the issue of labor market supply, which could help slow …
On this eventful day for the markets, government borrowing costs have surged as economists express concern that the Bank of England might need to bring Britain into a recession in order to regain control over inflation. The yield on two-year gilts, which represents the return promised by the Treasury when borrowing money, briefly reached a …
The tightening property lending squeeze in Britain has led to a significant decrease of over 40% in the number of mortgage deals available for first-time buyers in the past year. According to Moneyfacts, there were only 199 products available over the weekend for borrowers seeking up to 95% of the property value, compared to 347 …
New data reveals that the mortgage market is facing disorder, resulting in longer property listing durations and reduced asking prices. Rightmove reports a £82 decrease in average asking prices this month, marking the first June decline since 2017. Additionally, OnTheMarket data indicates that over 50% of properties now take longer than a month to attract …
The significance of artificial intelligence (AI) as a driving force for the future of both markets and the economy was solidified by Nvidia’s impressive profit report. AI is set to become a factor in various aspects of people’s lives, from personalized shopping to self-driving cars and healthcare robotics. Nvidia’s strong financial performance has positioned the …
Renowned billionaire Elon Musk is scheduled to meet Emmanuel Macron in Paris today, marking their second meeting in just over a month. This meeting comes as France aims to attract investment from the Tesla boss and strengthen their relationship. During his visit to France’s largest technology trade fair VivaTech, President Macron confirmed the meeting and …
Every weekday at 10:20 a.m. ET, the CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” livestream. Let’s take a look at the key moments from Thursday’s session: 1. Book profits on big winners: On Thursday, Wall Street saw a significant climb, with the Dow Jones Industrial Average gaining over 350 points or roughly …
According to a former Bank of England interest rate setter, the higher number of homeowners on fixed-rate mortgage deals is exacerbating the turmoil in the lending market. Michael Saunders, who served on the Monetary Policy Committee until August, believes that the time it takes for rates to impact the economy has lengthened significantly. This uncertainty …