Weekly Digest – 05 June 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

UK business optimism hits eight-year high

British businesses are their most confident in eight years and their hiring plans are the strongest since 2017, according to a survey published on Friday that added to signs of a recovery in the economy as a national election approaches.

How the general election could affect your finances

From pensions to tax, the newly elected government could have a big influence on your wealth. With the date of the general election now set, finance is set to be a central issue with interest rates and inflation still high.

Sales in UK shops bounce back as inflation slows

Sales in British shops have bounced back in May, according to retail data that suggests slowing inflation is encouraging customers to buy more.

Ticketmaster confirms hack which could affect 560m

Ticketmaster owner Live Nation confirmed “unauthorised activity” on its database after a group of hackers said they had stolen the personal details of 560 million customers.

House buyers warned over new tax rule that could add thousands to purchases

Stamp duty relief for certain purchases will be scrapped from June 1. Those who purchase more than one dwelling in a single transaction – for example, houses and flats purchased together, or mixed-use properties such as shops with a flat above – will no longer get a tax break on stamp duty.

Are enterprise investment schemes still fit for purpose?

It’s been 30 years since the launch of the Enterprise Investment Scheme. So, 30 years on, now is an apt moment to assess if EIS and SEIS have managed to evolve with the needs of the UK’s scaling businesses and, crucially, to ask whether the schemes are still fit for purpose in their current form.

Union plans to escalate action over job losses at two steelworks in Wales

Union leaders are preparing to ramp up industrial action at two south Wales steelworks, in a further escalation of a row over almost 3,000 job losses that threatens to become a big general election issue.

UK house prices return to growth after wobble

British house prices rose in May after falling in the previous two months as the property market withstood high borrowing costs, figures from mortgage lender Nationwide showed on Friday.

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