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A collection of 10 posts

UK now incentivizes small modular reactors that generate nuclear power in a bid to lower fossil fuel reliance

Per Bloomberg The UK has just announced its new moves to incentivize those wanting to build small modular reactors to generate nuclear energy. The funding package comes as the UK is trying to reduce fossil fuel reliance. In total, the UK will be providing $205 million in grants for companies

UK GDP toppled by UK debt for the first time in 60 years

Per Bloomberg For the first time in 1961, UK debt exceeded 100% of the UK economy. This comes as its public sector net debt in May was 100% of the total nation's GDP, according to the Office for National Statistics. The public sector net debt reached 100.1%

US, UK lawmakers press HSBC CEO over HK expats being denied access to their retirement funds

Per Reuters HSBC allegedly blocked access for Hong Kong expats to their own retirement funds. This resulted in lawmakers in the US and Britain putting pressure on the bank, which was already the subject of criticism for its alleged actions. The pressure comes from the chair of US Congress, Mike

2/3rd of businesses share concerns over employee mental health amid cost of living crisis

Per PwC UK Recent research by PwC UK revealed how two-thirds of businesses shared concerns regarding their employees' mental health. The concerns were specifically about how the cost of living crisis has affected them. This came as many businesses started to see na increase in mental health long-term leaves.

UK debt exceeds its economy, reaching 100.1% of GDP for the first time since 1961

Per CNBC UK net debt is reaching new heights that now result in it exceeding the economy. For the first time since 1961, the total debt is reportedly 100.1% above the countyr's GPD. According to the Office for National Statistics, this was for the UK public sector

Uber says UK customers will get in-app flight purchase options by the summer

Per The Guardian Uber is planning a new way to diversify its offerings, and this summer, UK customers will be able to get in-app flight purchase options. This comes on top of the app's function as a ride-booking platform. The company is looking to offer multiple forms of

Binance suspends UK customers' deposits and withdrawals through bank transfers

Per Decrypt Bloomberg suspends deposits and withdrawals for UK customers via bank transfers. In an email sent to customers, it was noted that customers wouldn't be able to use the British pound sterling GBP on their accounts. This is reportedly because of Skrill Limited, Binance's partner

HSBC rescues Silicon Valley Bank UK by acquiring it for £1

Per CNBC As the Silicon Valley Bank collapsed, so did its UK arm. HSBC has decided to come to the rescue and purchase SVB UK for just £1, equivalent to $1.21. However, this doesn't include assets and liabilities owned by the parent company of SVB UK. HSBC

UK GDP Bump Helps Slightly Steer Risk of Recession

Bloomberg A small recovery in the UK economy via an increase of 0.1% in gross domestic product (GDP) is helping its economy slightly decrease the risk of falling into a recession. This comes despite a recession expected by the central bank from late 2022 until 2024. While some parts

1.9 Million UK Households Missed Payments or Defaulted on at Least One Mortgage Leading to Christmas

Per Yahoo! News Leading to Christmas, more UK households have either missed payments or have defaulted on at least one mortgage. The data came from a survey by Which? involving 2,000 participants to come up with the estimation. Per the survey, they found that 6.7% were unable to