Swelling energy bills propel inflation to 4.2 per cent, more than double Bank of England’s target November 17, 2021 Swelling household energy bills have propelled inflation to more than double the Bank of England’s target, dialling up pressure on the Old Lady to act to hose down red-hot price rises. Inflation scaled to 4.2 per cent in October, up sharply from 3.1 per cent in the previous month, according to the Office for National [...]
UK business sentiment hits 12-month low amid supply chain and inflation woes November 15, 2021 British business sentiment dropped to its lowest level in a year in October, dragged down by fears of looming inflation and supply chain pressures that could undermine a sustained recovery from Covid disruption. Inflation expectations among UK business leaders surge to a record high last month, with 66 per cent expecting non-staff costs to increase [...]
Labour claims Sunak will not have the ‘fiscal headroom’ to cut taxes before next election November 14, 2021 New UK growth forecasts from the Bank of England show that Rishi Sunak will not have the “fiscal headroom” to cut taxes before the next election, according to shadow chancellor Rachel Reeves. The central bank now forecasts the UK economy will grow by 1.5 and 1 per cent in 2023 and 2024 respectively, compared to [...]
‘Middle-class stampede’ for equity release as wealthy homeowners flock to lifetime mortgages November 12, 2021 The average property value of a lifetime mortgage customer has passed the half a million pound mark for the first time as the industry continues to make waves with financial advisers and wealthier customers, according to new data shared with City A.M. today. The steep rise in property prices over the past year cannot entirely [...]
‘Acute’ staff shortages and rising energy bills force most businesses to hike their prices November 12, 2021 Amid ‘acute’ staff shortages and the rising cost of fuel and energy, most businesses are increasing their prices. A survey of 1,000 firms showed that four out of five increased the price of their goods or services in the past year. The British Chambers of Commerce (BCC) said its study indicated that nine out of [...]
Credit management veteran reflects on the pandemic: ‘Have you had a good crisis?’ November 11, 2021 Colin Storrar, the CEO of Lowell, one of the UK’s largest credit management companies, returns my question with a question, or rather a series of questions, when asked about his priorities since the first national lockdown was announced. “How have you treated your people this crisis? Have you thought about their work environment? Have you [...]
Rishi Sunak’s approval rating sinks, says new polling November 10, 2021 Rishi Sunak’s approval rating has dropped by 26 points since March as almost half the country think his latest Budget will be bad for them personally, according to new polling. A poll out today from Ipsos MORI showed Sunak has an approval rating of +6, down from +32 in March, while 44 per cent of [...]
The metaversal evolution will not be centralised November 10, 2021 The metaverse creates efficiencies, growth, and cost reductions orders of magnitude above and beyond that of physical space, explains Dr Kacher.
Climate change: How insurance and analytics can help to increase global resilience November 9, 2021 Climate change is set to touch every part of our lives – from the food we eat to how we heat our homes. But it’s also going to have a transformative effect on businesses, perhaps no more so than within the insurance industry. With climate change creating more extreme weather events, the world is becoming [...]
Greater Manchester launches bid to become easiest place in the UK to be a zero carbon business November 8, 2021 The Greater Manchester Local Enterprise Partnership (GM LEP) alongside an alliance of businesses and partner organisations has launched Bee Net Zero – an ambitious commitment to making the city-region the easiest place in the UK to become a green business. Greater Manchester’s thousands of businesses are urged to start their own green journey at BeeNetZero.com, [...]