Former PM Johnson Resigns On Friday (9th June) former PM Boris Johnson announced that he is standing down, with immediate effect, as an MP for Uxbridge and South Ruislip (in West London). In his resignation statement he stated that he remained “hugely proud of all that we achieved in my time in office as prime minister: getting Brexit done, winning the biggest majority for 40 years and delivering the fastest vaccine ...

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House Prices Fall UK house prices fell at their fastest annual pace for almost 14 years (since July 2009) in the year to May according to new research by Nationwide. The 3.4% fall comes as a result of mortgage rates continuing to rise as interest rates increase (currently at 4.5%). Nationwide stated that “headwinds to the housing market look set to strengthen in the near term” as a result of renewed ...

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Supermarket Price Caps The UK Government is at the “drawing board stage” of introducing a scheme that would aim to get retailers to charge the lowest possible amount for some basic products like bread and milk. This suggestion has been attributed to the resilient high levels of inflation for food and non-alcoholic drinks which remains above 10% (19.1% in data published in April). The supermarkets have attributed the increase in costs ...

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We are very pleased to introduce our new member, Scandinavian Trust. Scandinavian Trust offers Corporate Management and Secretarial services to local and foreign business owners. Their clients are international entrepreneurs and global businesses with local personnel, a branch or a holding company in Denmark, Finland, Norway and Sweden. Key services include domiciliation and directorships, along with accounting and payroll. They also provide many other services such as management of bank relations, liquidations, ...

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We are delighted to introduce our newest Patron, Fitch Ratings Fitch Rating is a leading provider of credit ratings, commentary, and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective, and insights we provide help investors to make important credit judgments with confidence. Fitch Group is a global ...

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G7 in Japan The Hiroshima G7 summit marked continued support and cooperation between the members following rounds of meetings in Japan over the weekend. US President Biden confirmed on Friday (19th May) that the US will support a joint effort to train Ukrainian pilots for F-16 fighter jets. The G7 also took a united position on China with its strongest condemnation yet on the superpower in a joint communique. PM Sunak also ...

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Bank of England Interest Rates The Bank of England (BoE) has raised interest rates to 4.5% on Thursday (11th May) after warning that the UK will not hit its inflation target (2%) until 2025. UK interest rates are now at their highest level since 2008 after the BoE admitted that it had underestimated the persistence and strength of food price rises. Last month inflation was recorded at 10.1% and the BoE ...

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The Coronation Weekend The Coronation of The King and The Queen was conducted at Westminster Abbey on Saturday (6th May). The service incorporated longstanding traditions and pageantry with forward-looking adjustments in front of 2,300 guests. Over 100 heads of state were in attendance for Europe’s only royal family who continue to host coronations. Over 7,000 troops and 19 military bands were involved in the procession from Westminster Abbey to Buckingham Palace. ...

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Aberdeen’s Net Zero Port The Port of Aberdeen, established in 1136, is investing £55m to become the UK’s first net zero port by 2040. Specifically, the port is targeting net zero emissions from the port’s operations and from vessels visiting the port. The initiative will work to promote low carbon alternative fuels through trials of vegetable oil fuels for port-owned vehicles. The Port of Aberdeen’s CEO described the “pivotal role in the ...

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UK Economy Above Pre-Pandemic Levels Revised figures for January now reveal that UK GDP is 0.3% higher than pre-pandemic levels in 2019. New data also suggests an increased likelihood that growth outpaced forecasts in the first three months of 2023. Last month, the fiscal watchdog warned that Q1 of 2023 would show a 0.4% contraction but this appears to have failed to materialise. Economists labelled this an “accomplishment” but the recovery ...

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