CBI: Consumer spending smashes expectations, but deeper dip may be on the way July 26, 2022 Consumer spending is defying expectations and holding up better than feared amid sky high inflation, a new survey published today reveals. Retail sales volumes dipped to net a balance of minus four per cent this month, slightly lower than June, according to the Confederation of British Industry (CBI). But, the marginal drop was much better [...]
Holidaymakers urged to reclaim ATOL refund notes or lose out on £54m July 26, 2022 Holidaymakers have been warned not to miss out on £54m-worth of unclaimed ATOL refund credit by the Civil Aviation Authority. Many passengers have missed out on the chance to claim compensation from ATOL, a legal protection and requirement for package holiday bookings. The CAA warned that when a travel company goes under, from 30 September, [...]
Exclusive: Ministers plan ‘final salary’ pension reform as £1.7tn schemes face liquidity crunch July 26, 2022 Ministers have announced plans to ramp up regulatory scrutiny of ‘final salary’ pension schemes today amid fears that rising interest rates and soaring inflation will leave some schemes facing a liquidity crunch this year.
City grandee says Boris Johnson told him he wants to stay as PM July 26, 2022 Boris Johnson told a City grandee and Tory peer that he wants to stay on as Prime Minister and does not want to resign. Lord Peter Cruddas, who is a major Conservative donor, is running a “bring back Boris” campaign to keep Johnson in Number 10 through a vote of Tory grassroots members. Cruddas told [...]
JD Sports set to announce former B&Q executive as new CEO July 26, 2022 A former boss at B&Q is being touted to take the reins at JD Sports Fashion to replace the brand’s long-term CEO who stepped down over board disagreements. Frenchman Regis Schultz is set to take over at the sportswear fashion giant according to Sky News’ Mark Kleinman. City sources said the agreement could be signed [...]
OneWeb and Eutelsat ink £2.8bn deal to forge satellite powerhouse July 26, 2022 British satellite darling OneWeb and French competitor Eutelsat confirmed this morning that they will push ahead with the £2.8bn merger. Eutelsat is set to suspend its dividend for two years to pump investment into OneWeb’s low-Earth orbit satellite network, as part of the all-share deal. The deal is intended to forge a satellite powerhouse to [...]
Heathrow’s boss slams Ryanair’s comments as ‘ridiculous’ July 26, 2022 Heathrow’s chief executive has lambasted Ryanair after the airline accused airports of not recruiting enough ground handling staff ahead of the peak season. John Holland-Kaye deemed the comments made yesterday by the airline’s chief financial officer Neil Sorahan as “ridiculous.” “Ground handling is the responsibility of the airline,” the airport’s boss told the PA news [...]
Rishi Sunak vs Liz Truss: Last night’s Tory leadership debate fact-checked July 26, 2022 Last night Tory leadership hopefuls Rishi Sunak, a former chancellor, and Liz Truss, the current foreign secretary, went head to head in a live TV debate on the BBC. Following the debate, City A.M. caught up with Will Moy, chief executive of Full Fact, to fact check the various statements that were made during the [...]
64 per cent of all City roles now listed as remote: Brits embrace hybrid working as Google searches go through the roof July 26, 2022 Demand for hybrid working has risen since the pandemic with remote employees seeing more productivity at home. In fact, to meet demand, 15 per cent of the UK workforce has gone hybrid, with 64 per cent of all roles in the City of London listed as hybrid working. Analysis of over 890,000 job advertisements has [...]
MPs sound the alarm as number of women in British prisons simply refuses to come down July 26, 2022 The Government’s lack of progress in cutting the number of women in prison has come under fire by various MPs. In fact, there are fears this could rise by more than a third in the next three years. The Commons Justice Committee said there has not yet been “significant” change in addressing problems when holding [...]