Growth in construction sector slows to lowest level since September as firms are hit by Omicron troubles January 7, 2022 Growth in the UK’s construction sector continued in December but slowed to its lowest since September as some firms were affected by rising Covid-19 cases. The closely followed IHS Markit/CIPS UK Construction purchasing managers’ index hit a reading of 54.3 last month, down from 55.5 in November. Any reading above 50 is seen as growth. [...]
Two CEO success stories should put nonsense comparison to bed January 7, 2022 Today marks what unions and one particular think tank term ‘high pay day.’ It’s the day at which an average FTSE 100 CEO has earned the equivalent of the whole-year earnings of the so-called average worker. As ever, the comparison is facile, the implication idiotic, and it is deserving of no more than these few [...]
Exclusive: British factories intend to face supply chain crisis head on in 2022 January 7, 2022 British factories intend to tackle the supply chain crisis that plagued the UK economy in 2021 head on this year, reveals a study shared exclusively with City A.M. Devoting resources to improving supply chains is the top priority for 2022 for nearly two in three UK manufacturers, according to fresh research carried out by Digital [...]
Plan B blows UK economic recovery off course January 6, 2022 The imposition of Plan B in a bid to flush out a wave of Omicron cases whacked the British economy last month, reveals a closely watched survey released today. Brits were encouraged to work from home and limit socialising in December, igniting a mass exodus from city centres and high streets, dealing a heavy blow [...]
US Fed’s hawkish tilt pours cold water on global markets January 6, 2022 The sudden realisation that equity markets may not be propped up by ultra loose monetary policy for much longer after the US Federal Reserve released minutes highlighting the scale of its hawkish turn poured cold water on investors today. London’s premier FTSE 100 index closed 0.88 per cent lower at 7,450.37 points, while the mid-cap [...]
British firms intend to hike prices five per cent this year January 6, 2022 British businesses are laying the foundations to hike prices sharply this year as they scramble to survive amid soaring costs, reveal official figures published today. UK firms are intending to raise prices five per cent this year, according to the Bank of England’s survey of chief financial officers of British businesses. A toxic combination of [...]
Combination of Covid, Brexit and transition towards net-zero economy to end decades of declining ‘job churn’ in UK January 6, 2022 Decades of declining “job churn”, which has meant fewer risks and opportunities for workers, is likely to be upended in the decade ahead as the combination of Covid-19, Brexit and the transition towards a net-zero economy brings about major changes in the UK economy, according to a new report. In fact, the view that robots [...]
Which direction will the UK’s economic weather vane blow in 2022? January 6, 2022 It’s fair to say the last two years have been a turbulent one for the UK economy. The pandemic has upended working practices, supply chains and the monetary policy playbook. With the emergence of the Omicron variant leaving the spectre of coronavirus hanging over the country, it’s fair to say the British economy is not [...]
British businesses prepare to hike prices en masse January 6, 2022 British businesses are bracing for a cost assault by preparing to hike prices, reveals fresh research released today. Almost three in five firms expect to lift prices in the next three months, the highest proportion ever recorded, according to the British Chambers of Commerce (BCC). Intention to lift prices is seeping into most corners of [...]
City firms shake up UK jobs market but stalling change cuts off routes to higher pay January 6, 2022 City firms are changing the landscape of the UK jobs market, reveals a fresh study released today. Over the course of the last decade, the professional services sector underwent the biggest structural shake up of any other in the UK economy, according to the economic think tank the Resolution Foundation (the Foundation). In the last [...]