Brits sit pat on Covid-19 savings mountain in sign of tougher recession November 29, 2022 Brits are sitting pat on the mountain savings they built up over the course of the Covid-19 crisis during lockdowns, official figures out today reveal. Households set aside £6.4bn in savings last month, £1.6bn higher than the average monthly deposit flow before the pandemic, according to the Bank of England. The figures illustrate consumers are [...]
Open banking should be a blueprint to create more competition across sectors November 29, 2022 When Transport for London opened up their data, it enabled the creation of Citymapper.
The man behind the O2 says Brits back ‘good times’ in the face of recession November 29, 2022 The man behind London’s The O2 says that despite cost of living concerns, people are still spending big on events, with the consumer mindset shifting to “having good times”. Paul Samuels, who heads up global partnerships at events giant AEG, told City A.M. that the arena is yet to see a dip in visitors amid [...]
Rail Partners calls for government to give operators more freedom November 29, 2022 Rail Partners has called for the government to give train operators more freedom to attract back customers. According to the rail association, the current system – introduced during the pandemic and based on contracts instead of franchising – needs to evolve through an increase harnessing of the private sector. Rail Partners has called for a [...]
Excl: Brits’ spend on restaurants and takeaways behind pre-Covid average November 28, 2022 Brits are now spending far less on meals out and takeaways than they were on the eve of the Covid-19 pandemic, as consumers and businesses grapple with rising costs. Diners are forking out 16 per cent less per month in restaurant spending on average, versus 2019, according to exclusive research shared with CityA.M. Average spend [...]
Supermarkets ‘implored’ to lower forecourt fuel prices after steady wholesale drop November 28, 2022 Motoring group the RAC has urged supermarkets for not lowering prices in forecourts despite wholesale fuel going down in price. The car-owners’ organisation appealed to the big four – Tesco, Sainsbury’s, Morrisons and Asda to make consumers’ lives easier amid the cost of living crisis. In new figures released, the RAC showed wholesale fuel prices [...]
Stabilising the economy depends upon ensuring new start ups stay in our shores November 28, 2022 Tonight I will welcome the Prime Minister, the Lord Chancellor, the Archbishop of Canterbury, the Chancellor of the Exchequer and guests from across the City – and beyond – to Guildhall for the annual Lord Mayor’s Banquet. While the worst of the pandemic is behind us, we are facing the bleakest economic outlook that we [...]
Terrible at times tables? Our reliance on fintechs doing our maths dents our income November 28, 2022 Londoners are the most “maths anxious” people in the UK. If reading this sentence sends a chill down your spine, then you’re probably one of the maths anxious people. The term is a little puzzling – do we mean people who are actually scared of numbers? After all, people seem to be scared of anything [...]
UK economy much more volatile after series of sharp shocks November 28, 2022 The UK economy has become much more volatile compared to three decades ago, a new survey out today reveals. Since the global financial crisis in 2008, the economy has grown much slower compared to the decade and a half in before the catastrophe, according to consultancy BDO. The firm said in the first 15 years [...]
Busiest Black Friday on record as Brits make the most of sales in cost of living crisis November 26, 2022 This year’s Black Friday was the busiest on record, as Brits look to make the most of deals amid the cost of living crisis. The number of purchases jumped on Friday, up 10 per cent in comparison with last year, according to data from Nationwide today. The rate of spending has risen more than a [...]