‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Pub and restaurant bosses slam Chancellor for neglecting sector with VAT hike March 23, 2022 Hospitality bosses have said the government has ignored their plight as venues struggle with Covid debts and rising costs. Calls from pub and restaurant bosses for a VAT freeze fell on deaf ears as the Chancellor unveiled his spring statement on Wednesday afternoon. The sector had been lobbying for the tax to remain at 12.5 [...]
Abrdn urges housebuilders to go further than legal requirements in coughing up cladding cash March 23, 2022 FTSE 100 asset manager Abrdn has called on housebuilders to do more than the bare minimum to foot the bill to fix blocks with unsafe cladding. According to a report from Sky News, the City investor has written a letter to big players in the construction sector, urging them to do more than they are [...]
Nestlé suspends brands including KitKat and Nesquik in Russia after scolding from Ukrainian President Zelensky March 23, 2022 Food and beverage giant Nestlé is suspending brands including KitKat and Nesquik in Russia. “We are focused on providing essential foods such as baby food and medical/hospital nutrition products. This means we will suspend the vast majority of our pre-war volume in Russia,” a Nestlé spokesperson said. It comes after the world’s largest consumer goods [...]
Average UK house price stands at £274k, a £24k annual increase March 23, 2022 The average UK house price hit £274,000 in January, a £24,000 uplift compared to the year prior. Average house prices increased 9.6 per cent over the year to January, a dip from 10 per cent in December 2021, according to the latest official statistics. London continues to be the region with the lowest annual growth [...]
UK inflation tops 6 per cent as households call on Rishi Sunak for cost of living respite March 23, 2022 The Consumer Prices Index (CPI) measure of inflation marked the largest monthly increase since 2009 last month. According to the Office for National Statistics (ONS), CPI rose 0.8 per cent in February 2022 on a monthly basis. This was compared to a rise of just 0.1 per cent in February 2021. CPI rose 6.2 per [...]
Makeover for high street as cosmetic treatment firms snap up commercial units March 22, 2022 The UK high street is undergoing a makeover with fresh demand for units from dentists, cosmetic clinics and private healthcare. According to London estate agent Winkworth, commercial units are going to sealed bids as there has been a momentous pandemic interest in cosmetic procedures. Specialist medical services – including dentistry and cosmetic treatments – have [...]
Wates Group marks highest ever operating profit in 125-year history March 22, 2022 Construction firm the Wates Group has posted its highest ever operating profit of £40m, thanks to booking new projects last year. The family-owned firm said it secured £2.3bn of new work during 2021 and ended the year with a record forward order book of £7.1bn – up seven per cent from a previous record in [...]
Home transactions up with market for pricey properties booming compared to pre-Covid levels March 22, 2022 Property transactions hit 96,250 last month, with big spenders buying more than before the pandemic. Transactions were up 15 per cent in February, compared to 83,450 in January, according to HMRC’s latest data on home transactions. Total sales for the first two months of the year stand at 179,900, some 18 per cent lower than [...]
New chairman for THG as Matt Moulding relinquishes role March 22, 2022 E-commerce retailer THG has named Charles Allen as its new chairman as Matt Moulding will continue as CEO at the beleaguered company. The company had previously declared it would split the roles of executive chair and CEO held by Matt Moulding. Allen, who has the same role at FTSE 250 construction giant Balfour Beatty, is to [...]
Food industry: Government must act to tackle cost of living crisis as prices spike March 22, 2022 A food industry leader has called on the government to intervene to ease supply chain pressures on food firms as a cost of living crisis looms. Food and Drink Federation boss Karen Betts has urged ministers to act to help millions of households as they face rising food and energy prices this spring. Measures urged [...]
