Parents forced to stay at home as thousands of teachers start three days of ‘unforgivable’ strikes February 28, 2023 Tens of thousands of teachers across England and Wales will strike over three days this week in the long-running dispute over pay. Teachers will walk out across the north of England on Tuesday with the majority of schools expected to either restrict access to some pupils or fully close, the National Education Union (NEU) has [...]
Cost cutting efforts working: AO World’s outlook upped for third time in three months February 28, 2023 Online electricals retailer AO World has hiked it annual earnings outlook for the third time in just over three months as it said cost-cutting efforts were paying off. The Bolton-based group said its profitability has seen a better-than-expected improvement as it drives cost savings thanks to a “resilient” customer base. AO World said price increases [...]
Ocado blames ‘macro economic and political headwinds’ for a drop in sales and widening losses of £500m February 28, 2023 Online grocer Ocado has reported a 3.8 per cent fall in sales, claiming its business model has been “tested” in 2022. In its results for the full year year, Ocado posted retail revenues of £2.20bn, down from £2.28bn the previous year. The firm also posted a harrowing loss before tax of £501m for 2022 up [...]
‘One of the hardest investing years in living memory’: Abrdn swings to pre-tax loss as investors pull £10.3bn from funds February 28, 2023 Abrdn swung to a pre-tax loss last year as investors pulled £10.3bn from its funds in what its chief called “one of the hardest investing years in living memory”. In its full year results today, the FTSE 100 asset manager posted a pre-tax loss of £615m, down from a profit of £1.1bn a year prior, [...]
Shapps looks to win US support for green energy projects in net zero race February 28, 2023 Grant Shapps is hoping to sustain the UK’s role as a major player in the net zero race, and woo his US counterpart with joint projects.
Brits forced to cut £14,000 off house prices to achieve sale, new data reveals February 28, 2023 Brits are being forced to accept an average cut of £14,000 on the price of their homes to achieve a sale, according to new Zoopla HPI figures.
End of Bank of England £800bn bond buying scheme poses headaches for Treasury and taxpayers February 28, 2023 The magic money tree is shedding its leaves. Over a decade of cheap cash propping up the global economy has been toppled by a once in a generation inflation problem. QE was a necessary response to the batch of shocks ricocheting around the global economy since 2008. Now it’s shifted into reverse. But how did [...]
Amazon strikes: Coventry workers say they are ready for ‘David and Goliath battle’ against employer over poor pay conditions February 28, 2023 Amazon workers have said that they are ready for a “David and Goliath battle” as they begin their second round of strikes this year over poor pay and working conditions. More than 350 workers at Amazon’s Coventry warehouse will walk out today in anger at a pay rise of 50 pence. Employees at the warehouse [...]
IFS: No room for tax cuts or spending rises at March budget despite Jeremy Hunt pocketing £60bn windfall February 28, 2023 There is no room for tax cuts or spending increases at the 15 March budget despite Jeremy Hunt being handed an around £60bn windfall from lower energy prices and interest rates, a top economic think tank has forecast today. The Chancellor will be held back from handing households and businesses a tax giveaway due to [...]
London businesses sweat over UK recession risk as experts warn on cost of living pressures February 28, 2023 Uncertainty over whether the UK economy will tip into recession this year has led London businesses to sweat over their finances this year, a closely watched survey out today reveals. Optimism among the capital’s companies slid 19 points in February to 18 per cent, arresting a steady upward rise in confidence, according to Lloyds Bank’s [...]
