Swelling of ‘generation rent’ means many won’t be homeowners until 40s, 50s or even pension age June 8, 2022 Almost 15 per cent of renters think they may be picking up their pension before becoming homeowners, as the cost of living crisis continues to eat into savings. With so-called ‘Generation Rent’ continuing to be impacted by soaring house prices that prevents them from getting onto the property ladder, a new survey commissioned for NatWest [...]
Londoners face more disruption as new tube strike is confirmed for 21 June June 8, 2022 Londoners will need to brace themselves for more disruption as the RMT union has announced that 10,000 of its tube workers will walk out on 21 June. RMT members working for London Underground cited a dispute over pensions and job losses as the main reason behind the walkout. The strike is the latest disruption to [...]
Zara owner Inditex’s profit up 80 per cent as shoppers stock up June 8, 2022 Zara owner Inditex has posted a bumper quarterly profit, while taking a hit of €216m after the temporary closure of its business in Ukraine and Russia. The Madrid-listed firm, which is the largest fashion company in the world, saw net income profit hit €760m in the first quarter of the year. It marked a decade-high [...]
To seed a food secure future for our nation we need technology on our side June 8, 2022 An oven-ready roast chicken in your local supermarket will probably cost you more than it did last month. As will eggs, pasta and bread. And they’re likely to cost you even more next month, as world food prices hit an all-time high. The crisis in Ukraine has had a domino effect, but food prices have [...]
Rowe has earned his money with the turnaround of Marks and Spencer June 7, 2022 Steve Rowe’s pay packet as he departs Marks and Spencer is, unsurprisingly, the subject of plenty of commentary. He’s walking into the sunset with £2.6m for his last year of work, a sum that set against an ongoing cost-of-living crisis in the rest of the economy will always raise eyebrows. Yet Rowe has earned every [...]
Union announces three-day rail strike at end of June June 7, 2022 The RMT union announced that its anticipated rail strike will take place over three days at the end of the month. Tens of thousands of railway workers will walk out on 21, 23 and 25 June following failed negotiations with Network Rail and 13 other operators. The union announced that London Underground workers will strike [...]
Efforts underway to remove Boris Johnson from No 10 via vote of no confidence in House of Commons June 7, 2022 The leader of the Liberal Democrats, Sir Ed Davey, said this morning that his party will put forward a vote of no confidence in Prime Minister Boris Johnson. Speaking to Kay Burley on Sky News, Sir Ed said: “I think there should be a vote of no confidence in the Prime Minister in the House [...]
No more Netflix and chill: Consumers cancel subscriptions and miss out on meals out amid historic inflation June 7, 2022 Consumers are tightening their purse strings by cancelling digital subscriptions and holding off on buying new sofas, as inflation sits at a 40-year high. Shoppers’ hesitancy to splash the cash on unnecessary treats or big ticket purchases has contributed to a retail sales growth slowdown, according to a tranche of spending statistics published today. May [...]
“Perfect storm” for new car sales as cost of living crisis and supply issues see May figures at historic low June 6, 2022 UK new car sales fell to their second weakest May in the last thirty years as a lack of consumer confidence and supply chain chokepoints took their toll on the big-ticket purchases. Just 124,000 cars were registered in May of this year, the lowest of the last thirty years except for the pandemic-induced lows of [...]
Hot on Klarna’s heels: Apple enters buy-now pay-later space with ‘Apple Pay Later’ June 6, 2022 Apple has officially entered the buy-now pay-later space, announcing 'Apple Pay Later' at its developer conference this evening.