Exclusive: London bearing the brunt of skills shortages, say city bosses October 7, 2021 The skilled labour shortage gripping the UK is being felt most acutely by London businesses, with seven in 10 executives saying their company has been affected. Despite promises of emergency visas and skills training from the Government, 22 per cent of London business leaders think the problem will be the biggest hurdle their company will [...]
Indie band Friendly Fires furious at Boris Johnson after PM emerges during Black Cassette track October 6, 2021 Boris Johnson today walked out on stage for his speech at the Conservative party conference while a song by indie band Friendly Fires was played. The band did not appreciate it. The Prime Minister made his way to the stage against the backdrop of their track Blue Cassette ahead of his keynote speech in Manchester. [...]
Month-ahead natural gas prices climb 30 per cent in just a day October 6, 2021 Prices for future natural gas stock soared 30 per cent this morning, driven by demand for the resource rising as energy providers brace for cooler weather. November month-ahead natural gas contracts climbed to £3.82 per therm, up from the £3.03 per therm opening price. At one point today, natural gas futures contracts for November topped [...]
Ireland drops opposition to global corporation tax deal October 6, 2021 Ireland has dropped its opposition to raise global corporation tax rates to 15 per cent, bringing a deal to level the business tax regime a step closer. Discussions between Ireland’s finance minister, Paschal Donohoe, and other kingpins driving the agreement among countries that represent around 90 per cent of the global economy has yielded positive [...]
IMF: Inflation to surge above central banking elites’ targets October 6, 2021 The International Monetary Fund (IMF) expects inflation across the world’s richest countries to surge above the central banking elites’ targets. In a pre-released chapter from its global economic outlook report, the IMF said inflation in rich countries will hit 3.6 per cent in the final months of this year. The organisation blamed elevated inflation on [...]
Supply chain epidemic leaves UK construction reeling October 6, 2021 An epidemic of raw material and worker shortages has left the UK construction industry in an almost anaemic state. A closely watched survey measuring the health of the British construction industry notched 52.6 in September, the lowest reading for eight months and down from 55.2 in August. Construction firms have struggled to progress and complete [...]
BCC: Supply chain breakdowns threaten to throw UK recovery off course October 6, 2021 Endemic supply chain breakdowns that are causing the UK economy to snarl up threaten to derail Britain’s recovery from the Covid-19 crisis. The chief of the British Chambers of Commerce (BCC) has warned “The supply chain crisis, alongside wider labour shortages and spiralling price rises, is clearly starting to drag on our economic recovery from Covid-19.” The warning comes as the BCC found [...]
UK businesses jack up prices at record pace amid supply chain epidemic October 5, 2021 Businesses are jacking up prices at the fastest rate on record to cancel out soaring costs caused by endemic supply chain breakdowns. A closely watched index measuring UK services businesses’ activity hit 55.4 in September, up slightly from August’s six-month low 55. A reading above 50 indicates a majority of firms reported growth. Soaring oil [...]
Exclusive: Spectre of rising costs threatens to derail London recovery October 5, 2021 Businesses across London are under threat from the spectre of soaring costs. Almost half of firms in the capital are suffering from a sharp rise in energy, raw material and fuel costs, which is squeezing their margins “on several fronts”, the London Chamber of Commerce (LCCI) has warned. Richard Burge, chief executive of the LCCI, [...]
Just a handful of Brits want to work remotely all the time October 5, 2021 Just a handful of Brits want to work remotely all the time, reveal new figures published today. Research by the UK’s largest bank HSBC found 14 per cent of people want to work away from the office all the time. The figures reinforce the continued pull of physical offices, but highlight that elements of hybrid [...]