Starmer vows there will be ‘no magic money tree economics’ with Labour July 25, 2022 Sir Keir Starmer has promised there will be “no magic money tree economics” with a Labour government as he vows to deliver “sound finances”. Starmer said in a setpiece speech in Liverpool that he would not be bound to the “nostalgic” thinking that government should direct business activity and that “modern industrial strategy is not [...]
Mr Kipling owner acquires meal-kit brand The Spice Tailor for £43.8m July 25, 2022 Premier Foods has snapped up the Indian and South East Asian meal kits business The Spice Tailor, for an initial £43.8m. The Spice Tailor is anticipated to generate revenue of £17.3m in the 2022/23 financial year, with the Mr Kipling owner enticed by its 20 per cent compound annual growth rate over the last four [...]
Aldi raises pay for 26,000 shop staff with Londoners to be paid £11.95 an hour July 25, 2022 Aldi has announced it is raising store assistant pay further, with Londoners to receive £11.95 minimum per hour from the autumn. The discount supermarket said this pay increase means it retains the crown of the country’s best-paying grocer, with store assistants outside the M25 to receive a base pay of £10.50 an hour. Some 26,000 [...]
As Westminster decides on its plan for growth, the City is ready to flex its potential July 25, 2022 The initial Conservative leadership debates were scattergun, trying to cover a broad range of social issues. But now we have two candidates, it has boiled down to one single issue: the economy. As we’re plagued with rising inflation and strikes disrupting our day-to-day lives, our future plan for growth is urgent, for the private sector, [...]
No property policies: Lack of housing ideas from Truss and Sunak branded ‘deeply alarming’ July 24, 2022 Rishi Sunak and Liz Truss need to put tackling the housing crisis at “the top of their list” if they become Prime Minister, a major housing association told City A.M. this morning. The National Association of Property Buyers said a whole generation of people faced being unable to own or rent a property due to [...]
Half of all Brits need extra money to get by so millions are scrambling to find additional sources of income July 24, 2022 As the cost of living crisis continues, over 30m Brits have been forced to seek an additional source of income due to the pinch on their finances. Shockingly, this is a staggering 65 increase in just four months, since February this year, according to new research shared with City A.M. this morning. Younger people are [...]
Motorists driving off without paying at pump could cost forecourt operators £100m in 2022 July 22, 2022 A spike in drivers not paying for fuel due to high prices could cost forecourt operators more than £100m in 2022. There has been at 2,054 incidents of drivers refusing to pay at the pump so far this year in the capital, according to a Freedom of Information Request submitted by City A.M., and sent [...]
FRP announces higher revenue and growth despite economic uncertainties July 22, 2022 FRP Advisory Group announced higher revenues and a growth in team size and market share despite a weakening economic outlook. For the year ended 30 April 2022, revenue rose 21 per cent to £95.2m from £79m in 2021, with a 15 per cent increase in FRP’s team size by 66 to 504 (excluding consultants). FRP Corporate [...]
Green levies are a form of defence spending to ease Russia’s hold on our energy market July 22, 2022 SINCE Boris Johnson announced he would resign, the Conservative party split itself into different camps for their leader. Now we have the final two: Rishi Sunak and Liz Truss. After an ideologically-light leader, the party has tried to reshape itself over its policy on tax cuts and the cost of living. On the one hand, [...]
Centrica granted licence to reopen UK’s largest gas storage site as winter crisis looms July 21, 2022 Centrica has been awarded a licence to reopen the UK's largest gas storage site, boosting plans to shore up domestic energy supplies ahead of winter.