Cost of living crisis forces Brits to abandon saving, with more than one in five taking on EXTRA debt February 22, 2023 The cost of living crisis is poised to force Brits to shun setting cash aside each month for a rainy day, official figures out today show. More than four in 10 of the population expect to save no money whatsoever over the next year, according to the Office for National Statistics (ONS). Inflation has raced [...]
Peugeot and Fiat owner’s profits rise 26 per cent as carmaker powers ahead with EV strategy February 22, 2023 Carmaker Stellantis reported a 26 per cent increase in net profit for the year as the Peugeot owner sought to dominate the electric vehicle (EV) market. Net profits at Stellantis, which produces Citroen, Fiat and Peugeot car brands, rose to €16.8bn (£14.8bn) for 2022, while net revenues jumped 18 per cent to €179.6 billion. On top of [...]
PMQs sketch: Starmer stands up for the Tory backbenches February 22, 2023 As Rishi Sunak tries to keep unity together in Northern Ireland - and build some on the Conservative backbenches and Starmer prepares to unveil the Five Missions no one asked for, Sascha O’Sullivan on today’s Prime Minister’s Questions.
FCA warns firms to act now or risk falling foul of incoming consumer duty regime February 22, 2023 Firms must act now to prepare for a new consumer duty, a boss at the City regulator has said. Sheldon Mills, executive director of competition and consumers at the Financial Conduct Authority (FCA), told firms: “You still have time to deliver. But you must act now.” Speaking at an online event hosted by Deloitte marking [...]
FTX collapse: UK investors report losses of nearly £2m to police February 22, 2023 The amount of recorded cash lost by UK investors in the collapse of crypto exchange FTX swelled to nearly £2m this month as burnt traders turn to the police in the hope of recovering their money, a freedom of information request reveals.
McKinsey to cut up to 2,000 staff in one of its biggest round of layoffs ever February 22, 2023 McKinsey is planning to cut up to 2,000 back-office staff as it seeks to control costs and retain its partner payouts. The plans could affect up to 2,000 of McKinsey’s 45,000 staff, in one of the consulting firm’s largest rounds of job cuts ever. McKinsey’s plans, first reported by Bloomberg, are set to see [...]
Tube strike to take place on 15 March after Aslef members voted in favour of industrial action February 22, 2023 London will grind to a halt on 15 March after tube workers voted in favour of strike action, as Sadiq Khan warned there are “no proposed changes to pensions”, at the heart of the dispute. Train drivers who are member of the uion Aslef voted to down tools for 24 hours next month with 99 [...]
UK tech firm numbers double in two years – with London start-up growth lower than nearly all other regions February 22, 2023 The number of newly-created UK tech firms is up by a fifth, with London marginally below the national average. There were 46,474 new tech companies created in Britain in 2022, up from 38,240 in 2021. Based on data from Companies House, the uptick in registrations of new firms is almost double that of 2020, when [...]
Crypto investors look through hawkish Fed minutes to focus on fundamentals February 22, 2023 Experienced crypto investors will be prepared to look through any near-term inflation and interest rate news, says Nigel Green.
Crypto markets correct after Bitcoin’s short-lived fling with $25k February 22, 2023 The price of Bitcoin was down around $24,180 this morning, with Ethereum similarly in the red by 3.5%, changing hands for $1,645.
