Fewer unemployed people than job vacancies: Jobless rate lowest since 1974 with 121,000 more Brits on payrolls May 17, 2022 The number of UK workers on payrolls rose by 121,000 between March and April to 29.5m, the Office for National Statistics said this morning. It means Britain’s jobless rate has fallen to its lowest level for over 47 years but workers have seen their pay fall further behind rocketing inflation, according to official figures. The [...]
Exclusive: UK business loans written off by banks almost double to £356m as insolvencies quadruple May 16, 2022 The value of UK business loans written off by banks nearly doubled in the last quarter of 2021, rising 87% from £190m in the third quarter to £356m in the fourth quarter. Debt advisors told City A.M. this afternoon that write offs of loans have been subdued throughout the Covid crisis but are now rising [...]
Enough is enough: Employers are running out of steam on ability to hike pay or make well-paid job offers May 16, 2022 Close to half of UK employers report having vacancies that are hard-to-fill, and almost two thirds anticipate problems filling vacancies in the next six months. The most common response made in the past six months by employers with hard-to-fill vacancies has been to increase pay, according to new research from CIPD, the professional body for [...]
Levelling south: Most of UK’s top 10 fastest-growing city economies are in the South or East of England May 16, 2022 Most of the top 10 fastest-growing city economies by the end of next year will be in the South or East of England, new research suggests. The Government’s levelling up agenda will fail to take off unless more is done to help local economies in other parts of the UK. The dominance of London and [...]
London is back: Influx of new residents picks up as 1 in 3 homes are let to tenants from outside the capital May 16, 2022 It has been revealed that nearly three in every 10 homes let in London so far this year have gone to people who were previously living outside the capital. Some 30 per cent of these properties have gone to tenants who were previously living elsewhere, according to research from sales and letting agent Hamptons, shared [...]
Closing down: McDonald’s starts removing golden arches across Russia as its 850 restaurants are up for sale May 16, 2022 McDonald’s has become the latest major western corporation to exit Russia since it invaded Ukraine in February, as the burger chain confirmed this morning it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people. The fast food giant pointed to the humanitarian crisis caused by the war, [...]
Exclusive: Jump in small businesses planning to find fresh cash through EIS as enthusiasm for equity raises grows May 16, 2022 The number of small businesses planning to raise money under the Government’s flagship Enterprise Investment Scheme (EIS) rose nearly 10 per cent last year from 2,965 in 2019/20 to 3,245 in 2020/21, according new data shared with City A.M. this morning. The rise in SMEs looking to raise funds though EIS shows that enthusiasm for equity fundraising [...]
Trade war fears grow as Boris Johnson issues final Brexit warning to EU: If Brussels does not give in Britain ‘will act’ May 16, 2022 As Boris Johnson prepares for a visit to Northern Ireland later today, the Prime Minister has warned the EU the UK will have a “necessity to act” if the Brussels is unwilling to reach a compromise in the deepening crisis over the Northern Ireland Protocol. The Prime Minister – who travels to Belfast today for [...]
Hope and excitement in Kyiv as Ukrainian troops reach Russian border: Retreat is embarrassment for Putin May 16, 2022 Ukraine is hit by a wave of hope and excitement this morning as its troops have reached the border with Russia. Troops defending the city of Kharkov claim to have pushed back Russian troops to the Ukraine-Russia border. Ukrainian authorities released a video in which a military unit poses in front of a boundary marker. [...]
From Boxpark to Punch Pubs: Cash influx for leisure sector as UK private equity deals double in just one year May 16, 2022 The number of UK private equity deals for companies in the leisure sector has more than doubled from 12 to 26 in the past year, according to research by one of the City’s biggest law firms. Private equity funds are taking the opportunity to pick up assets at comparatively low prices ahead of the leisure [...]
