Households face extra £271 on annual food bill as grocery inflation highest since 2011 April 26, 2022 Households are facing an additional £271 to their grocery bill, with price inflation now standing at the highest level in over a decade. According to fresh data from Kantar, grocery price inflation has reached 5.9 per cent, the highest level since December 2011. Brits are facing a slew of price increases this spring, as businesses [...]
Taylor Wimpey bats off inflation concerns as home prices spiral in the housebuilder’s favour April 26, 2022 Taylor Wimpey has continued to bat off concerns surrounding inflationary headwinds, as the housebuilder agrees to spend another £80m on fixing its fire-risk cladding. The FTSE 100 firm signed the government’s fire safety pledge earlier this month, which means it must fix all cladding issues on buildings over 11 metres, which were build in the [...]
IWG points to franchising potential as shares take a hit from profit warnings April 26, 2022 IWG has enjoyed a sharp increase in revenues in its first quarter, supported by increased franchising and partnering.
Primark to introduce ‘selective’ price increases to offset pressures April 26, 2022 The owner of Primark has said it will be forced to raise prices on “selective” products in its autumn/winter ranges and issued a margin outlook warning. Associated British Foods (ABF) said its half-year sales and operating profit for the group returned to pre-Covid levels, in interim results for the 24 weeks ended 5 March 2022. [...]
National Express revenue makes full pandemic recovery amid pent-up demand April 26, 2022 National Express’ revenue has made a full pandemic recovery, as pent-up demand and a domestic travel boom saw a greater take-up of coach travel last month. The group’s revenue has finally swung back to 2019 levels in the three months to 31 March, with last month’s earnings coming in ahead of pre-pandemic figures. While the [...]
Pandemic passport chaos: Millions put summer plans on hold amid ‘virtually unprecedented’ backlog to meet post-Brexit target April 26, 2022 A “virtually unprecedented” surge in applications for passports after the pandemic has put millions of people’s summer holiday plans in the balance. The country has been urged to get new applications in as “quickly as possible” to meet post-Brexit rules about passport validation, requiring at least three months remaining before being able to renew. This [...]
Public sector borrowing hits third highest year since 1947 April 26, 2022 Public sector net borrowing hit £151.8bn in the financial year ending March 2022, the third-highest financial year borrowing since records began in the financial year ending March 1947. Borrowing excluding public sector banks was 6.4 per cent of gross domestic product (GDP), according to freshly published figures from the Office for National Statistics. However, borrowing [...]
Death of the office? Don’t tell City businesses as leases shoot up in the first quarter April 26, 2022 London’s office market looks fitter and healthier than ever before, according to the two of the UK’s largest property firms, despite the lures of working from home. Take up of office leases in central London shot up 89 per cent year-on-year in the first quarter, CBRE data shared exclusively with City A.M. revealed. City firms [...]
A diverse market of payment providers is healthy competition but it comes at a cost April 26, 2022 Today, companies whose raison d’etre is far from fintech find themselves needing to process payments transactions in very large quantities. Yet the historical payments infrastructure, which only supported financial institutions with payments, is increasingly unfit for purpose. What’s happening is that consumer businesses are being forced to become fintechs. This evolution is causing the entire [...]
As house prices hit another all-time high, we need to cut bureaucracy burdening sales April 26, 2022 Yesterday, average house prices in England hit a record high for the third consecutive month, according to RightMove. They reached an average of £360,100. High buyer demand and a limited number of homes available are likely to send prices even higher. Against this backdrop, it’s about time we reconsider the way we buy and sell [...]
