The Meal Deal Inflation Index: Tesco, Greggs, Boots and more January 5, 2023 Times are hard – with a cost of living crisis, inflation, and seemingly constant grey skies. Add strikes to the mix and it’s almost too much to get out of bed. But there is worse than even that – the hardy meal deal, the friend of the cost-conscious Londoners, is no longer quite the value [...]
Amazon: Tech giant to lay off 17,000 staff but boss Jassy remains confident January 5, 2023 Amazon layoffs will now increase to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday. The layoff decisions, which Amazon will communicate starting Jan. 18, will largely impact the company’s e-commerce and human-resources organizations, he said. The cuts amount [...]
Meta fined €390m by Irish data watchdog January 4, 2023 Ireland’s data watchdog has fined Facebook’s parent company Meta Ireland 390 million euro as a row erupted over whether further investigation of the use of people’s data is warranted. Meta Ireland was fined 210 million euro for breaches of EU data privacy rules relating to Facebook, and 180 million euro for breaches on Instagram. Meta said it was “disappointed” [...]
Takeover bid: Why listed funeral firm Dignity appears set for new private ownership January 4, 2023 A consortium led by Sir Peter Wood, the founder of Direct Line, and City fund management bigwig Gary Channon appears set to take the reins of Dignity, the London-listed funeral firm. In an announcement to markets this evening, Dignity said it would be “minded to recommend” a fourth offer by Wood and Channon’s consortium to [...]
Rishi Sunak: I’ll halve inflation and get the economy growing again January 4, 2023 Rishi Sunak has pledged to halve inflation and bring down NHS waiting lists, as he set out a fresh vision for his premiership with five promises to voters. In his first major speech of 2023, the Prime Minister promised to deliver “peace of mind” to the public, even as his Government grapples with an NHS [...]
Experts predict house prices will fall in 2023 – but it’s not all bad news for homeowners January 4, 2023 Homeowners can expect to see house prices fall this year by as much as six per cent over the year, according to a leading property association. The boss of the National Association of Property buyer Jonathan Rolande does though expect activity and demand to pick up in the summer months. ““This will negate some of [...]
Tech layoffs: Another US giant announces plans to slash headcount by 10 per cent January 4, 2023 Salesforce said on Wednesday it would lay off about 10 per cent of its employees and close some offices, becoming the latest tech firm to undertake cost cuts amid an economic slowdown. The company expects the move to lead to about $1.4 billion to $2.1 billion in charges, of which about $800 million to $1 [...]
Truss warns Sunak not to shelve childcare reform plans January 4, 2023 Rishi Sunak has been warned by his predecessor Liz Truss not to ditch her childcare reforms, amid reports that the Prime Minister is moving to shelve the plans. Ms Truss, who resigned from office after only a few weeks, had been considering a range of reforms designed to ease the cost burden on parents. But [...]
Sainsbury’s boosts pay as part of £205m inflation package January 4, 2023 Sainsbury’s is investing £185m in pay bumps for staff as the supermarket looks to retain staff during a period of high inflation and rising cost of living. Pay will increase to £11 per hour for retail staff, with London workers paid £11.95. It represents a 10 per cent pay hike over the past year when [...]
Russia pins blame for Ukraine deaths on soldiers using mobile phones – as some call for Putin to launch further mobilisation January 4, 2023 Russia has blamed the illegal use of mobiles for its latest setback in the Ukraine War, with anger directed away from Vladimir Putin
