Faisal Islam
Faisal Islam
Econ Editor, BBC. Fin crisis book @theDefaultLine .. Newsnight. Host award-winning 2016 EUref TV interviews & 2017 GE debate. United ST.Source
London, England
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Mortgage rates: The full pain of this chaos is yet to come

Mortgage rates: The full pain of this chaos is yet to come

In the run-up to this week's shock interest rate rise, BBC News spoke to dozens of people facing inconceivable rises in mortgage costs. There is no shortage of volunteers telling their stories. "My monthly mortgage repayments increased by £270 per month." "It's scary. Petrifying." "Several hundred pounds." "I don't sleep well at night. Distraught. I'm helpless." This was the week where inflation became stuck, the Bank tried to get a grip, Number 11 advisers warned of the need to "create a recession", and an inflation blame game erupted, all against the backdrop of household mortgage...

Jun 23
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Biden administration threatens tariffs on UK goods in 'tech tax' row

Biden administration threatens tariffs on UK goods in 'tech tax' row

The US has warned it could put tariffs of up to 25% on a host of UK exports in retaliation for a UK tax on tech firms. could all be hit, according to a list published by the Biden administration.The duties are designed to raise $325m (£235.8m), the amount the US believes the UK will raise from US tech firms. A UK government spokesperson said it wanted to "make sure tech firms pay their fair share of tax". They added: "Should the US proceed to implement these measures, we would consider all options to defend UK interests and industry."Washington is pressing ahead with the action, initiated...

March 29, 2021
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UK and US in talks over mini trade deal

UK and US in talks over mini trade deal

The outgoing US administration is in talks with the UK to try to seal a mini-deal to reduce trade tariffs, Donald Trump's trade chief has said. US Trade Representative Robert Lighthizer told the BBC he was hopeful for a deal that could see punitive tariffs on Scottish whisky lowered.The UK recently said it would drop tariffs against the US over subsidies for aerospace firms.This was in a bid to reach a post-Brexit trade deal with Washington.In his first international interview, Mr Lighthizer suggested the UK would need to go further than last week's announcement . "I'm talking to...

December 17, 2020
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