The Bank of England has decided to keep interest rates steady at 4%, following a closely contested vote. This decision comes as the bank believes that inflation in the UK has reached its peak, which is a positive sign for the economy. By maintaining the current rate, the Bank aims to support economic stability and consumer confidence, making it an important development for both borrowers and savers.

UK construction activity has experienced its sharpest decline in over five years, signaling potential challenges for the economy. This downturn could impact jobs and investment in the sector, raising concerns about the overall health of the construction industry and its ripple effects on related sectors.

AstraZeneca's CEO, Pascal Soriot, has warned that the NHS may only be able to afford cheaper, generic medicines if the UK does not increase its spending on new drugs. He pointed out that the cost-effectiveness thresholds for new medicines have remained unchanged for two decades, which could hinder access to cutting-edge treatments for patients. This situation is concerning as it highlights the potential limitations in healthcare innovation and patient care in the UK, emphasizing the need for a reevaluation of funding strategies to ensure that the NHS can provide the best possible treatments.

The Bank of England has decided to keep its key interest rate unchanged, indicating a pause in its series of borrowing cost reductions. This decision comes as the U.K. grapples with persistently high inflation, even amid a sluggish economy and a cooling jobs market. It's a significant moment as it reflects the central bank's cautious approach to balancing economic growth with inflation control.

A new report highlights the potential of flooded disused coalmines in the UK as a sustainable energy source, capable of providing low-carbon heat to thousands of homes. By utilizing mine water geothermal heat systems, which harness naturally warmed water, this innovative approach could not only help improve living conditions in poorly insulated housing but also assist the UK in achieving its carbon reduction goals. This development is significant as it offers a practical solution to energy needs while addressing environmental concerns.

Rachel Reeves is contemplating a new pay-per-mile tax for electric vehicle (EV) drivers, which could add an average of £250 to their annual costs. This proposed charge of 3p per mile aims to compensate for the declining revenue from traditional petrol and diesel vehicles as more drivers transition to EVs. This move has sparked concerns among EV owners, who may feel unfairly targeted as they already contribute to road taxes. The announcement is expected during the budget reveal on November 26, making it a significant topic for both the automotive industry and consumers.

Electric vehicle (EV) owners in the UK are facing potential financial strain as the Chancellor's Autumn Statement hints at a new pay-per-mile tax. This proposed tax could significantly impact EV owners, who have enjoyed incentives and lower running costs until now. The move is seen as a way for the government to recoup lost fuel tax revenue as more drivers switch to electric vehicles. This change matters because it could deter the adoption of EVs, which are crucial for reducing carbon emissions and combating climate change.

In a recent appeal, Schwimmer has urged UK Chancellor Reeves to take action that could potentially unlock a £100 billion boom in the UK stock market. This call to action is significant as it highlights the potential for economic growth and increased investment opportunities in the UK, which could benefit both businesses and investors alike.