UK Recession Looms During Q3 of 2022 the UK economy contracted by 0.2% as rising costs impacted businesses and households. The Bank of England (BoE) forecasts Q4 to also be in decline which would then tip the UK into a “very challenging” two-year recession. This would mark the longest recession since records officially began in the 1920s and unemployment is expected to double to 6.5%. However, the UK remains the only ...
Read MoreWe are delighted to present our newest patron member, RPC (Reynolds Porter Chamberlain). RPC is an international commercial law firm that provides a spectrum of legal services to global business across a wide range of industry sectors and practices. The firm is headquartered in London and has offices in Bristol, Singapore, Hong Kong, and a legal presence in over 100 countries. Today the firm employs 750 professionals, and it can ...
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UK Economic Outlook The Bank of England (BoE) this week revealed it’s economic outlook for the UK with the nation set to face its longest recession since the Great Depression of the 1930s. The country faces a “very challenging” two-year recession after the BoE believes the UK entered a recession during the summer which it estimates will not end until the first half of 2024. Secondly, the BoE anticipates that unemployment ...
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UK Tax Rises The PM (Sunak) and his Chancellor (Hunt) are said to be exploring tax increases and public spending cuts in a bid to fill the gap in public finances. The budgetary tightening of around £50bn is necessary due to the weak economic forecast delivered last week by the Office for Budget Responsibility. In context, this equates to around 2% of GDP and equals the scale of the austerity Budget ...
Read MoreMichaël began his career as a doctor where he observed the consequences of poor leadership. Similarly, in the world of business the actions of leaders have large ripple effects. This has motivated Michaël to devote his work towards cultivating positive, powerful and sustainable leadership.Michaël Berglund, the founder of Michaël Berglund Group, a firm specialising in executive recruitment and leadership development, was recently awarded with the IIC Partner Lifetime Achievment award. ...
Read MoreThe British-Swedish Chamber of Commerce is delighted to welcome you to a financial outlook with HSBC. HSBC Chief Investment Officer for Switzerland and EMEA, Georgios Leontaris, will present HSBC’s latest views on the economic outlook and he will also identify investment opportunities during this period of disruption and change. We will be joined by Sir Laurie Bristow, President of Hughes Hall, University of Cambridge, and former British diplomat who served as ...
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Prime Minister Rishi Sunak On Monday (24th October) The Right Honourable Rishi Sunak MP was elected as the new leader of the Conservative Party and, therefore, as the UK Prime Minister following the resignation of PM Liz Truss last week. On Tuesday, PM Sunak will travel to Buckingham Palace to meet King Charles III whereby the King will ask him to form a government. The new PM will then give a ...
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On Thursday 20 October, The BSCC had the pleasure of welcoming members to a hybrid breakfast seminar on the new British Government with Nicola Watkinson from TheCityUK. TheCityUK Represents the private sector interests of the financial and related professional services sector. Nicola Watkinson is Managing Director of the international trade and investment team at TheCityUK. The theme for the seminar was the new British Government, given the recent change in administration ...
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We were delighted to have Martin Lundstedt, CEO at Volvo Group, as speaker at our last Industry focused event. The event was generously hosted by Mannheimer Swartling. The theme for this industry focus was the green transition, and Martin Lundstedt generously shared his thoughts on the challenges and opportunities for both Volvo Group and the transport sector at large. Martin touched upon a wide variety of issues ranging from the importance ...
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Jeremy Hunt appointed Chancellor of the Exchequer Last Friday (14th October), the Chancellor of the Exchequer was removed by PM Liz Truss after 38 days in the job following substantial turbulence in the financial markets following his mini-Budget. This marked the shortest serving chancellor since 1970. The newly appointed Chancellor is The Right Honourable Jeremy Hunt MP who has served in the Cabinet throughout his political career. After having graduated from ...
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