Interest rates set to rise
The Bank of England has hinted that a rise in the interest rates could happen sooner than expected. Currently sitting at 0.5 percent, some economists are predicting a rise could come as soon as May this year. This would mean the cost of borrowing money will rise, and people will be more likely to save their income. The rise follows faster than expected growth in the last three months of 2017, at 0.5 percent.
Tesla make record losses
Elon Musk, the ambitious billionaire who this week sent a car into orbit around the Sun with his company SpaceX, is having troubles with his other company, Tesla. In the last quarter of 2017, the car producer made losses in the region of $675.4 million, mainly caused by issues in the production of their new car, the Model 3. Tesla is yet to make any profit but say that they expect to start seeing green this year.
Gigs are becoming more expensive
If you are a frequenter of the LCR to see your favourite bands, then you may be dismayed to hear that the average gig ticket has increased in price by 27 percent since 1999, after inflation is taken into account. After buying an average ticket, your wallet today will be £47.14 lighter, compared to £37.20 in 1999. Worldwide ticket sales, however, are up 23 percent since 2011.
Hard Brexit could cost £80bn
Secret analysis conducted by the government has shown that a hard Brexit, one where the UK is left with no access to the single market, could cost up to £80bn. Leaving with no deal, according to the study, would cost more, with the government needing to borrow £120bn over the next 15 years.
New London to Amsterdam rail service set to open
Eurostar, the train service that links the UK to mainland Europe, is set to expand later this year, creating a fast and affordable route between London St Pancras and Amsterdam. Taking around four hours and costing about £35 one way, the service will create a fast and affordable way to get to the Netherlands, while reducing the impact on the environment. Tickets are set to go on sale this month, and the route is expected to be operational by early April.