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News
North East space sector poised to take on £2 trillion global market
5+ hour, 14+ min ago (918+ words) The North East’s fast-growing space sector is pushing on from a high-profile conference in Durham as regional partners look to secure a slice of a global market forecast to be worth around £2 trillion by the mid-2030s. This momentum follows last…...
North East business leaders give verdict on Bank of England interest rate
21+ hour, 47+ min ago (553+ words) The North East Shadow MPC, a group of leading businesspeople from across the region, met to discuss their thoughts on the Bank of England-set base interest rate ahead of the Monetary Policy Committee’s meeting. The two recurring themes were uncertainty…...
Record 7.4 million households struggle to afford essentials
1+ week, 1+ hour ago (489+ words) A record 7.4 million low-income households across the UK have gone without at least one everyday essential over the past six months, according to new research highlighting the continuing impact of the cost-of-living crisis. The latest findings from the Joseph Rowntree…...
Andy Burnham scraps VAT on energy bills as households set to save from October
1+ week, 1+ day ago (486+ words) Millions of households across Britain are set to see their electricity bills fall this autumn after new Prime Minister Andy Burnham announced VAT will be removed from domestic energy bills from October 1. The move, worth £850 million, is expected to save…...
Bank of England asks people in County Durham about cost of living
3+ week, 45+ min ago (407+ words) The Bank of England is interested to hear from people in County Durham about the impact of the cost of living on their finances, as part of their Citizens’ Forum programme, which has been running across the UK since 2018. The…...
Bank of England set to hold interest rates as it faces balancing act
1+ mon, 2+ week ago (423+ words) The Bank of England is set to keep interest rates on hold as policymakers face the task of navigating the Middle East energy shock and a slowing economy. Many economists do not think an interest rate hike is on the…...
County Durham haulage firm says rising fuel costs are having a 'massive' impact
3+ mon, 4+ week ago (740+ words) A County Durham haulage firm has warned businesses will go under unless they hike prices amid soaring fuel costs sparked by conflict in the Middle East. Terry Naisbitt, general manager of Durham City Transport Ltd has said the firm has…...
Government fund to help North East households hit by rising heating oil prices
4+ mon, 1+ week ago (798+ words) The Government has announced a £50 million fund to help households with the rising cost of heating oil. It follows significant political pressure from the North East after the Iran war caused costs to skyrocket. In Northumberland and County Durham, as…...
As minimum wage increases to almost £25,000 workers urged to check their paypackets
6+ mon, 6+ day ago (841+ words) Increases to the National Living Wage and National Minimum Wage will mean that many full-time workers are approaching £25,000 a year for the first time. But new government figures show nearly 500 employers have had to be fined over £10 million for failing…...
North East businesses should;go ahead with eyes open' on AI, says bank governor
9+ mon, 2+ week ago (512+ words) Bank of England Governor Andrew Bailey has urged North East firms investing in artificial intelligence (AI) to be ambitious but cautious, describing the technology as potentially the “next big breakthrough” in global innovation. During his visit to the region on…...