ESG: City firms feel pressure of rule changes as clampdown on greenwashing expanded by regulators February 13, 2023 City firms are feeling the pressure of impending environmental, social and governance (ESG) rules this year as regulators expand plans to clampdown on greenwashing, new research has found. Financial firms in the UK have pointed to rules on sustainability as the main pinch point facing them for a second year running, ahead of a major [...]
Brexit delivered £1,000 blow to every UK household, Bank of England rate setter Haskel claims February 13, 2023 The sharp reduction in business investment after Brexit has dealt a £1,000 blow to every UK household, a rate setter at the Bank of England has claimed. Speaking to The Overshoot, Jonathan Haskel, an external member of the monetary policy committee (MPC), said that the “productivity penalty” caused by a huge drop in capital spending [...]
‘Lavish’ spending culture of government ministers including £345,000 ‘restaurant and bar’ bill revealed February 13, 2023 Ministers are accused of overseeing a “lavish spending” culture in Whitehall with taxpayers’ money wasted on luxury items, after Labour analysis of government procurement cards. Concerns were raised over alcohol and dining purchases by the Labour Party including almost £345,000 by foreign office officials in 2021 under the heading “restaurants and bars”, as well as [...]
UK firms cut back on hiring as rising costs hit business optimism February 13, 2023 British firms have begun cutting back on hiring as services businesses suffered a hit from the UK’s cost-of-living crisis, new research from BDO shows. Hiring has fallen to its lowest levels since December 2021, following a sharp drop in business output over the previous year, data from BDO’s business trends report shows. UK business output [...]
Record price rises force Brits to change Valentine’s day plans and cut back on dating February 13, 2023 In a bid to spend less, some 17 per cent of the public have revealed that they are committed to going on fewer dates and a further 13 per cent have confessed that they are now on the hunt for a more financially stable partner.
Britain’s abysmal numerical abilities are no laughing matter if we want a strong future February 13, 2023 Britons pass off being bad at maths as a joke, but our lack of numerical skills are a serious challenge for our workforce and our future economy, writes Nicholas Lyons
Cost of living crisis could drive the Bank of Mum and Dad bust, life office warns February 13, 2023 The wealth of parents who have been supporting their ‘adult’ children could be about to dry up, a life office has warned. According to the Institute for Fiscal Studies (IFS), £17bn a year is gifted or loaned annually, almost all from parents to adult children But Canada Life said its survey found that almost half [...]
Tech rout continues as Yahoo staff cull adds to over 30,000 job losses in sector this year February 10, 2023 Yahoo has become the latest tech giant to announce huge job losses, as the cost of living crisis forces digital advertisers to reign back on their spending. The American web provider said it was axing over 20 per cent of its entire workforce, with the cuts expected to make 1,600 current workers redundant, including 1,000 [...]
FTSE 100 live: London index under pressure despite easing of UK recession woes February 10, 2023 The FTSE100 index was trading slightly lower, down 0.24 per cent, this morning despite the UK narrowingly avoiding recession. London’s premier index had fallen to 7,892.06 points – down from yesterday’s close – while the domestically-focused mid-cap FTSE 250 index was off 0.55 per cent. Standard Chartered’s shares fell nearly five per cent in early [...]
Labour wins by-election as victor Ashley Dalton calls for Sunak to ‘move out of the way’ February 10, 2023 Labour’s Ashley Dalton told the Conservatives “move out of the way” after a comfortable win in the West Lancashire by-election. She demanded a general election, telling Prime Minister Rishi Sunak that it was time for Labour to take over. Bitterly cold conditions on polling day and the expectation of an easy Labour hold contributed to [...]