UK house sales up a third as mortgage rates rises spur movers August 23, 2022 Home sales in July were more than a third higher than in the same month last year, making it the most active month in 2022, according to the latest figures from HM Revenue & Customs (HMRC) today. Residential deals hit 110,970 in July, some seven per cent higher than June of this year. However, HMRC cautioned that [...]
Pubs face winter ‘extinction’ with some facing energy bill spike of 500 per cent August 23, 2022 Pub landlords are facing an “extinction” this winter as a majority of operators said they feared being forced to shut down in the coldest months. Some 65 per cent of publicans said they were likely to close over winter, despite a lucrative Christmas period free of Covid restrictions, when surveyed by industry title The Morning [...]
Unite union boss warns disputes will continue if workers not paid properly August 23, 2022 Unite union chief Sharon Graham has warned employers there will be no end to the strikes that threaten to cripple the British economy. “I expect employers that have the ability to pay to do so and stop using inflation and the pandemic as a reason not to pay proper pay rises to workers,” Graham, who [...]
Thames Water to probe data centres’ water usage August 23, 2022 Thames Water has said it is investigating the impact of data centres on the water supply in the London area. “We know there is increased demand for data centres and we have started a targeted exercise to understand how much water is used by them,” John Hernon, Thames Water Strategic Development Manager, said in a [...]
Ukraine: Insurers provide first policy for grain shipment out of war-torn country August 23, 2022 Lloyd’s of London broker Ascot and insurer Marsh have written their first insurance policy for a ship carrying Ukrainian grain out of the country’s Black Sea ports following the signing of Russia and Ukraine’s safe passage deal last month. The shipping insurance policy is set to reinforce the UN brokered deal to reopen Ukraine’s seaports [...]
Recession looms over European economies grappling with soaring gas prices August 23, 2022 Recession is looming over Europe’s largest economies, driven by record inflation fuelled by high energy prices squeezing businesses and households, surveys published today showed. Consumers on the Continent are shrinking spending in response to record inflation sharply hitting their finances. Elevated gas costs, caused by Russia seemingly retaliating to western sanctions after the Ukraine invasion [...]
Energy boss: Millions will suffer without more support for rising bills this winter August 23, 2022 Households will be unable to cope with a huge spike in energy bills this winter unless the Government steps in argued So Energy boss Simon Oscroft.
EDF Energy calls for more household support as price cap prediction jumps £6,500 August 23, 2022 Half of British households are facing fuel poverty this winter, unless the Government does more to help ease energy bills, warned EDF Energy (EDF) – one of the UK’s big five energy suppliers A household is considered to be in fuel poverty if it has to spend 10 per cent or more of its disposable [...]
Klarna says BNPL can offer ‘better value’ for essentials amidst cost of living crunch August 23, 2022 Klarna has doubled down on the use of buy-now pay-later for essentials like groceries after debt charities and the regulator warned over the promotion of the products amidst a cost of living crunch this year.
Nissan: 250 jobs are safe despite engine cylinder factory ceasing production August 23, 2022 A Nissan factory in Sunderland is to cease production in 2024 but the company says it does “not expect this to result in job losses”. The car-maker said its engine cylinder factory will close after Renault, its only customer, did not renew a contract to produce the cylinder heads. In a statement to City AM, [...]