Dual threat of Omicron and Plan B to destabilise UK jobs market recovery, warn City economists December 14, 2021 The dual threat of the Omicron variant and strict restrictions on daily life to curb its spread will smash the UK jobs market, City economists warned today. Measures to cut Brits’ social contact in a bid to quash the new coronavirus strain, including being encouraged to work from home, will hit retail, leisure and hospitality [...]
Labour market squeeze: UK unemployment rate falls to 4.2 per cent as vacancies soar to 1.2m December 14, 2021 The UK unemployment rate decreased by 0.4 percentage points on the quarter to 4.2 per cent for the three months to the end of October. A rise in more part-time work is partly behind the fall, according to Office for National Statistics data out this morning. Young people, a group that bore the brunt of [...]
UK businesses resist hiking prices despite cost assault December 14, 2021 UK businesses are swallowing swelling costs in a bid to avoid wiping out demand by hiking prices, reveals fresh research published today. The chasm between the amount it costs firms to produce goods and the price they charge for their products has widened to the largest on record, research by Lloyds Bank found. Soaring costs [...]
Full blown lockdown would plunge UK economy far below pre-pandemic size December 13, 2021 A full blown lockdown would derail the UK’s economic recovery from the Covid-19 crisis, reveals fresh analysis from City economists. Shutting down the retail, leisure and hospitality sectors will cause the British economy to shrink to six per cent below its pre-pandemic size, according to Pantheon Macroeconomics. Imposing tougher restrictions on businesses that rely on [...]
UK firms slash borrowing to reduce swelling debt burden December 13, 2021 British businesses are set to slash borrowing this year as firms repay debt to repair the damage inflicted on them by the Covid-19 crisis, according to a new report released today. A return to normal patterns of economic activity after the disruption caused by the pandemic will drive a sharp pull back in business borrowing, [...]
Record volume of UK factories hike prices in bid to survive inflation assault December 13, 2021 UK factories are hiking prices en masse in a bid to withstand an inflation onslaught, reveal fresh figures released today. A record number of British factories are raising prices as the sector scrambles to offset swelling costs to protect margins, research by BDO and Make UK found. The “eye watering impact of escalating cost pressures” [...]
Omicron to drive markets amid busy week of economic data December 12, 2021 Once again, Omicron news is set to drive sudden reactions from investors amid a busy week of closely watched economic data. Sentiment is more muddled due to uncertainty over the extent the reintroduction of tougher Covid-19 prevention measures in the UK could whack economic growth over the coming months. Despite greater confusion over the trajectory [...]
Ongoing Covid booster drive to eat into health and social care levy funds December 12, 2021 An ongoing booster vaccination programme to deal with recurring coronavirus pressures will eat into funds yielded from the new health and social care levy earmarked for the NHS. The government could be forced to use some of the money produced from the 1.25 per cent levy on a permanent booster campaign, with the total bill [...]
GDP growth falls short of expectations, inching 0.1 per cent higher in October December 10, 2021 The UK’s economic growth inched just 0.1 per cent in October, according to the latest figures. The figure remains 0.5 per cent below its pre-pandemic level, the Officer for National Statistic found, falling short of economist and analyst expectations after experts had forecast a 0.4 per cent increase. Construction and hospitality were among the hardest [...]
Lisa Tomkins CA on how Oxford Biomedica assisted AstraZeneca’s vaccine rollout December 10, 2021 | City Talk This article first appeared in ICAS’ CA magazine. Lisa Tomkins CA, Senior Director Finance at Oxford Biomedica, tells Ryan Herman how the company assisted the vaccine rollout and is pioneering new treatments in gene therapy When Lisa Tomkins CA became Oxford Biomedica’s Senior Director Finance in February 2021, she suddenly received a deluge of LinkedIn alerts. Anyone [...]