UK set to face ‘sluggish’ growth in the face of sticky inflation and Bank of England interest rate hikes
Labour calls for all MPs to vote on one-off windfall tax May 16, 2022 The Labour Party is calling on all MPs to vote in favour of a one-off windfall tax on oil and gas producers as the cost of living crisis continues to bite into Brits’ pockets. The amendment will be proposed tomorrow morning during the Queen’s Speech debate and it follows an analysis published yesterday by the [...]
Brits cut back on petrol and diesel as cost of living crisis deepens May 13, 2022 Brits are cutting back on petrol and diesel as they reduce the number of car journeys they make to save cash, revealed Ascona Group.
Windfall tax: There was little sympathy for loss-making energy giants in depths of 2020 May 10, 2022 Is business turning on business? It appeared so yesterday morning when the well-respected Tesco chair John Allan said the case for a windfall tax on energy giants had become “overwhelming.” Needless to say, Labour jumped all over this, just as they did when the former Financial Times editor Lionel Barber said the same. But alas, [...]
British Gas profits and Heathrow’s growth keeps FTSE 100 stable May 10, 2022 A strong April for Heathrow and British Gas’s owner Centrica expecting higher profits has helped the FTSE 100 remain steady, up 0.8 per cent at the open this morning. London rose 63 points despite fears about rising inflation, as the UK’s biggest airport lifted its forecast for passenger growth after a spike in travel over [...]
Co-op profit hammered by supply chain disruption as chair warns of ‘stark headwinds’ April 7, 2022 The Co-operative Group’s profit has taken a battering after “significant supply chain disruption” last year, as the grocer pledges to support customers amid a cost of living crunch. The supermarket reported profit before tax of £57m for 2021, down £70m on the year before when it pocketed £127m. The Manchester-based grocer did mark higher profit [...]
Cobra chairman: ‘No running away’ from beer price increases February 7, 2022 Price hikes for beer are a “necessity” against a backdrop of spiralling costs faced by businesses, according to the founder of Cobra Beer. Firms have been hit with rising costs across the supply chain, including manufacturing, energy and labour with consumers facing rising food prices and utility costs. The food and drink industry faces a [...]
Tesco chief: ‘The worst is yet to come’ as energy crisis set to push food prices higher February 7, 2022 Tesco chairman John Allan issued a stark warning on rising food prices yesterday, cautioning “the worst is yet to come” in the coming months. While the supermarket boss said it was troubling people were facing heating or eating, Allan said Tesco had also been hit with soaring energy costs. The average amount of household income [...]
Supermarkets stocking shelves with Lynx instead of Christmas products after delivery issues October 19, 2021 Supermarkets are filling shelves with deodorants in order to make shops look stocked. Speaking to the Business, Energy and Industrial Strategy (BEIS) committee, Food and Drink Federation boss Ian Wright said shortages of HGV drivers had resulted in some “extraordinary” scenes. The food boss was keen to stress that the country was “not going to [...]
Finance boss at Countryside leaves housebuilder to head to rival Barratt June 29, 2021 Mike Scott has resigned from housebuilder Countryside in order to take up the role of chief financial officer (CFO) at UK rival Barratt Developments. Both UK housebuilders simultaneously announced the move this morning, which sees Scott end a seven-year stint at Countryside, in which he oversaw the group’s IPO in 2016 and acquisition of Westleigh [...]
Morrisons’ chairman calls Christmas supply concerns ‘slightly overblown’ October 4, 2021 Morrisons’ chairman has downplayed concerns over the supermarket supply chain this Christmas. Andy Higginson said he was “not worried” about the challenges arising from a shortage of goods drivers and reports forecasting empty shelves this autumn, the BBC reported. The supermarket boss said problems in the supply chain were “well publicised” and “slightly overblown”. “Supply [...]