We’re ignoring a basic tool to help the poorest with their energy bills right now August 24, 2022 In the throes of an inflation induced cost of living crisis, energy prices need urgent political and policy attention. The plans put forward tend to vary around traditional conceptions of more tax, less tax or price suppression – but there are also ways the government can do highly targeted interventions to people in need. Targeted [...]
Iceland boss: Absence of government support on energy bills risks job losses and bankruptcy for firms August 23, 2022 Iceland boss Richard Walker has called on ministers to issue more support for businesses struggling with sky-high energy bills. Without a price cap on businesses’ energy bills, smaller firms would surely collapse, the supermarket’s managing director told CityA.M. An absence of further support for businesses was “really serious,” as the colder months approach, Walker said. [...]
Europe’s gas crisis: what does it mean for investors? August 23, 2022 Europe faces high gas prices and potential shortages as supply from Russia dwindles. We ask our investment experts what this means for companies, the energy transition, and the eurozone economy. Europe’s precarious gas supply situation has been a prime focus for markets ever since Russia’s invasion of Ukraine at the end of February. The European [...]
Inflation surge pushes UK economy to edge of stagnation August 23, 2022 Brits reining in spending amid a historic inflation surge has steered the UK economy to the edge of “stagnation,” a closely watched survey released today shows. S&P Global’s flash composite purchasing managers’ index (PMI), which measures activity across the private sector, dropped to 50.9 this month, down from 52.1 in July. The figures indicate “the [...]
Shoppers spend more at convenience stores this summer while volume sales at large grocers dip August 23, 2022 Convenience stores have seen sales buoyed this summer, as shoppers coughed up £3.6bn on groceries in them over the past month. Over the four weeks to 13 August, convenience stores made up some 28.9 per cent of sales, according to fresh data published by NielsenIQ on Tuesday. Total till grocery sales saw a growth of [...]
Letters: Mind the gap – if you can see it August 23, 2022 [Re: To attract and retain the best talent, the Square Mile must break down class barriers, yesterday] The diverse make-up of the candidates who stood for the leadership of the Conservative Party leadership should be a cause for celebration. But while the likes of Sunak et al. are reaching the summit of their professions, the [...]
Inflation to peak at more than 18 per cent, reckon Citi forecasters August 22, 2022 Inflation is set to surge above levels seen during the oil price shock in the late 1970s in a sign the UK economy is hurtling toward a long slump, new forecasts published today show. The cost of living will climb to 18.6 per cent in January, pushed higher by the energy watchdog hiking the cap [...]
Inflation has pushed the political vibes into depths Friedman cannot reach August 22, 2022 We are experiencing the politics of feelings, of “vibes”. These may not adhere to strict logic but their power should not be underestimated.
London faces higher inflation than rest of UK, new figures show August 22, 2022 Astronomical renting costs in the capital have led to a higher inflation rate in London than the rest of the UK, according to new figures released by City Hall. The figures show underlying inflation has been 1.5 per cent higher in London than the rest of the country over the past six months, after annual [...]
Weekend Read: Is Britain headed for a summer recession? August 21, 2022 Britain has met the first half of the technical recession definition, meaning there is a small chance we are headed for a summer recession. The Bank of England thinks the country will tip into the longest recession since the financial crisis in the final three months of this year. Figures published last week by the [...]