Ryanair’s profits ‘will rise’ as recession forces passengers to opt for cheaper fares January 5, 2023 Low-cost airline Ryanair has raised its profit guidance for its full year 2023 to between €1.32bn (£1.16bn) and €1.42bn (£1.25bn). This is a 25 per cent boost on its initial range of between €1bn and €1.20bn. Analysts at Liberum raised Ryanair’s forecast after a better than expected third quarter; Ryanair carried 11.5 million passengers in [...]
B&M: Bargains boost sales during ‘golden quarter’ – but will shares continue to rally? January 5, 2023 Bargain hunters gave discount retailer B&M a timely Christmas present as it looks to continue a share price rally that has seen its value jump 18 per cent in the last six months. In its third quarter trading update B&M reported 12.3 per cent year-on-year revenue growth of £1.5bn during the 13 week period 25 [...]
The recession could become an opportunity to reskill our workforce January 5, 2023 The job market has undoubtedly taken a hit over the past months. A rapidly rising cost of living has been followed by a wave of layoffs from global companies at the end of last year, including Google, Meta and Amazon. There could be more to come. Although unemployment is not at worrying levels right now, [...]
Without proper financial education, this year will be a baptism of fire for Gen Z January 5, 2023 Whilst a recession has an impact on every generation, in 2023 it’s Gen Z who are going to find the transition into a sharp economic downturn the hardest. With no savings, and finding themselves just entering the world of work, this prolonged period of economic uncertainty coincides with the first time many of them will [...]
This year, there’s potential for businesses to find value in times of economic uncertainty January 5, 2023 “Uncertainty is bad for business” is a truism accepted by all economists. But whilst it applies across an entire economic system, it doesn’t need to apply to you in 2023. You can simultaneously agree that the year ahead feels horribly uncertain while also thriving. The Collins English Dictionary recently named “permacrisis” as the “word of [...]
2022 worst year for UK car production in decades, but sector hopes to bounce back January 5, 2023 2022 was the worst year for car production in the UK since 1992, according to new data published today. Figures from automotive trade body the Society of Motor Manufacturers and Traders (SMMT) show that car registrations totalled 1.61 million in 2022, only just higher than 1992’s 1.59 million. Last year’s output was down 700,000 units [...]
Ryanair passenger levels jump as low-cost carriers weather recession January 4, 2023 Ryanair reported a jump in passenger levels today in a sign that low-cost carriers are managing to weather the cost-of-living crisis. Figures published today show that the low-cost airline carried 11.5 million passengers in December, 21 per cent up on last year’s levels. Numbers were also up on November’s 11.2 million travellers. Load factor – the [...]
From strikes to the NHS there is plenty going on – but Rishi Sunak is right to put “maths ’til 18” at the top of the agenda January 4, 2023 From the NHS’ well documented woes to rail strikes and Brexit, there is much on the government’s plate – but Rishi Sunak is right to put a light on Britain’s poor levels of numeracy, argues Sam Sims, the CEO of charity National Numeracy When there is so much else on the government’s domestic agenda – [...]
Mortgage approvals collapse to early Covid-19 crisis levels after mini-budget chaos January 4, 2023 Mortgage approvals in the UK have skidded to their lowest level since the early days of the Covid-19 crisis, pushed down by prospective buyers retreating after Liz Truss’s botched mini-budget sent interest rates flying, official figures out today show. The number of mortgage approvals tumbled a fifth over the month to November to their lowest [...]
Awards 2023 January 4, 2023 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]