Last-minute funding deal for TfL but still no sign of long-term agreement July 13, 2022 Transport for London (TfL) has received yet another short-term extension to its funding deal from central government just hours before an existing bailout was set to expire. “We have today agreed with the government that our existing funding agreement will be extended until 28 July 2022 so these discussions can be continued,” the public body said today. It [...]
Loungers sees ‘no shift’ in bargoer spending behaviour despite recession fears July 13, 2022 Bar goers have shown no change in spending behaviour at Loungers and Cosy Club venues, according to boss Nick Collins. While consumer-facing firms have reported declining sales in recent months, Loungers said its recent trading had bucked the trend, with “nothing to suggest a cautious consumer.” “We have looked for it [signs of change], clearly [...]
Property prices to smash through £300,000 mark by next month, industry expert predicts July 13, 2022 AVERAGE property prices will smash through the £300,000 mark by the end of the Summer, an expert said today. Latest data show that prices hit a record £294,845 – as rates rose at the fastest level in 18 years. Despite claims prices could be set to crash, Jonathan Rolande, from House Buy Fast, believes we [...]
UK venture funding slumps as recession jitters take hold July 13, 2022 UK venture capital funding slumped in the second quarter of the year as an investment frenzy tailed off amid rising interest rates and the prospect of a looming recession. Total cash injected by venture firms in the UK fell to $7.1bn across 478 deals between April and June, down from an all time high of [...]
Demand for alternative assets to rise 46 per cent over next 12 months July 13, 2022 Demand for alternative assets is set to soar by 46 per cent over the next 12 months as rising inflation sends investor interest surging. In a survey by alternative investment platform AssetTribe and market research firm Survation, 53 per cent of the 580 investors surveyed across the UK and Europe said their appetite for alternative [...]
Economic green shoots to coax Bank of England into steepest rate rise since independence July 13, 2022 Signs of green shoots in the UK economy will encourage the Bank of England to launch the steepest interest rate hike since it was made independent 25 years ago. Stronger than expected growth in May suggests the economy can absorb higher interest rates without falling into recession, known as a “soft-landing,” according to City analysts. [...]
Tory leadership: Mordaunt claims she is candidate ‘Labour fears most’ July 13, 2022 Penny Mordaunt has said she is the Tory leadership candidate that “Labour fears most” as she prepares to face off in the first round of MP votes today. The trade minister said in her official campaign launch today that she gives the Conservative party the “best shot” at winning the next election, while also vowing [...]
£16.9bn boost for Brexit Britain as UK to EU exports hit highest level ever recorded July 13, 2022 Goods exports to the EU reached £16.9bn in May, their highest level since the series began in 1997, according to the latest trade figures from the Office for National Statistics (ONS). In fact, the ONS found that UK imports and exports of goods rose overall by £2.2bn and £2.3bn respectively in May 2022. The higher [...]
Competition watchdog CMA launches probe into Morrisons takeover of McColl’s July 13, 2022 The CMA, the UK’s competition watchdog, confirmed this morning the launch of a ‘phase one’ investigation into Morrisons’ takeover of McColl’s. Bradford-based supermarket chain Morrisons snapped up McColl’s in a £190m rescue deal in May after the convenience chain collapsed into administration in light of soaring costs due to supply chain disruption, inflation and its [...]
UK fintech Zepz pushed back IPO plans amid accounting issues July 13, 2022 UK fintech firm Zepz was forced to delay its initial public offering plans after being hit by accounting difficulties and churn in its senior team, according to reports today.