Weekly Digest – 06 December 2023

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

Economic update December 2023: UK economy flatlines but avoids recession

Economic conditions remain challenging despite a dramatic drop in inflation and a positive Autumn Statement. ICAEW’s Economies Director Suren Thiru discusses the implications.

Microsoft’s new £2.5bn data centres are ‘turning point’ for AI in Britain

Microsoft will invest £2.5 billion in Britain over the next three years to double its data centre capacity and provide computing power to help to drive the expansion of artificial intelligence.

Multi-million economic boost to secure UK’s leading position in autonomous transport

The UK Government has announced up to £150m in funding for the development of autonomous vehicles. Running until 2030, the economic boost aims to solidify the UK as a world leader in the deployment of the innovative technology.

21-month high for UK business confidence, but prices continue to rise

UK businesses are decidedly more chipper about their prospects as we approach the end of a challenging year, but firming hiring intentions and price indicators suggest inflationary trends are not fading as fast as the Bank of England would like.

Rishi Sunak hails global investment in UK at Hampton Court summit

Rishi Sunak has welcomed hundreds of business figures to a summit at Hampton Court Palace, after putting efforts to attract global investment at the “heart” of his growth plan.

What lies ahead for UK real estate in 2024?

Tom Brown, Managing Director, Real Estate at Ingenious discusses what may lie ahead for UK real estate in 2024.

OECD: UK economy faces “urgent” challenges as growth downgraded and inflation remains high

Yet another forecaster has downgraded the outlook for the UK economy as it struggles with a cocktail of high borrowing costs and stubborn inflation. New forecasts from the Organisation for Economic Co-operation and Development (OECD) project the UK to grow at 0.7 per cent next year and 1.2 per cent in 2025.

UK’s largest onshore salmon farm approved at heart of Grimsby seafood cluster

Grimsby looks set to land the UK’s largest onshore salmon farm after a £120 million proposal was approved by North East Lincolnshire Council. Aquacultured’s £120m proposal is backed by councillors who spoke of huge economic potential and rare opportunity to play a leading role

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