Brits struggle to cut back as inflation eats into budgets August 1, 2022 Brits are struggling to find any more areas of spending to cut back on to keep their finances above water, a new survey published today reveals. Over one in 10 households will have nothing else to slash from their budgets when the October energy price cap hike lands, according to a survey by Legal and [...]
Exclusive: UK small businesses on high recession alert August 1, 2022 British sole traders and small businesses are battening down the hatches in preparation for a looming recession, exclusive research shared with City A.M. reveals. Over three quarters of small firms are fretting over the UK economy steering into reverse, according to fintech firm iwoca. Firms are scrambling to boost their cash reserves to help weather [...]
Sky-high inflation slows UK private sector economy to ‘standstill’ August 1, 2022 Consumers reacting to scaling prices by cutting spending is expected to grind the UK economy to a halt, new surveys published today revealed. Private sector firms think they will squeeze out zero growth over the next three months, according to the Confederation of British Industry (CBI), the country’s largest business lobby group. Businesses are beginning [...]
Letters: Work you won’t want to leave August 1, 2022 [Re: The great resignation is ripe for a backlash with a flood of boomerang employees, July 29] Mark McCain wrote that people who left their jobs during the pandemic might wind up coming back and employers should accept them with open arms. I agree it is a good thing for workplaces to bring back staff [...]
Exclusive: EV charging firm Pod Point expects supply chain issues to die down soon August 1, 2022 The supply chain issues that have plagued the automotive industry over the last year will die down within the next 12 to 18 months, said Erik Fairbairn, chief executive of electric vehicle charging provider Pod Point. “I really think that supply chain issues could last [between] 12 and 18 months but they are short-term in [...]
UK lags behind EU rivals in easing burden of fuel prices August 1, 2022 The UK lags behind many of its EU rivals when it comes to easing the burden of high fuel prices. Data released today by motoring group RAC has shown that – among the EU countries that have cut petrol taxes since March – only Luxembourg and Croatia have done less for drivers than Britain. The [...]
MPs urge Liverpool FC to cut ties with Standard Chartered over support for Hong Kong security law July 31, 2022 MPs have urged Liverpool football club to break its sponsorship deal with Standard Chartered over the the bank’s past support for a draconian national security law in Hong Kong. In a letter to Billy Hogan, the football team’s CEO, MPs and peers from the All-Party Parliamentary Group on Hong Kong highlighted that following mounting authoritarianism [...]
UK government must wake up to clinical research slowdown, industry body warns July 31, 2022 A slowdown in clinical research could hold Britain back in its bid to become a life sciences superpower, an industry body has warned. In a letter to Rishi Sunak and Liz Truss, the Association of the British Pharmaceutical Industry (ABPI) said “alarm bells” should be ringing across the government, the Sunday Telegraph reported. The letter [...]
Fulham Reach Boat Club raises funds for charity with 20km rowing challenge July 31, 2022 Fulham Reach Boat Club has taken on The Thames in a 20km rowing challenge to raise money for its own charity and the RNLI.
Chancellor resumes efforts to woo Arm away from Nasdaq listing July 31, 2022 Chancellor Nadhim Zahawi has resumed the UK Government’s efforts to woo Cambridge-based chip maker Arm away from a New York listing and back to London. Zahawi – who was appointed Chancellor following Rishi Sunak’s resignation in early July – has reportedly contacted Masayoshi Son, chief executive of Arm’s parent company SoftBank. SoftBank was in talks [...]
