Cocktail of headwinds freeze business confidence November 30, 2021 A cocktail of soaring inflation, ongoing staff shortages and looming tax hikes is leaving optimism about the UK economy among business leaders unstuck, according to new research published today. The Institute of Directors’ (IoD) economic confidence index, a closely watched survey taking the pulse of optimism among business leaders, remained unchanged at minus six in [...]
UK economy to return to anaemic growth as cost of living crisis spikes Brits November 30, 2021 A triple threat of a worsening cost of living crisis, higher interest rates and a pulling of government Covid-19 support will throw the UK economy back into an anaemic state, according to new research published today. Swelling energy bills and rising costs for basic necessities will cause households on tight budgets to rein in spending, [...]
On the job hunt: These are the hardest vacant roles to fill in the UK November 30, 2021 Veterinary surgeons, senior auditors and HGV technicians are among the hardest jobs to fill in the UK, according to new research. Only 16 per cent of all job postings on job site Indeed fall into the ‘hard to fill’ category, meaning they have stayed on the website for over two months but over half of [...]
Omicron: what it means for markets November 30, 2021 Mark Ainsworth, Head of Data Insights: The new Covid-19 variant B.1.1.529, or Omicron, that was identified last week in southern Africa has officially been classed a “variant of concern” by the World Health Organization. Covid-19 infections had already been on the rise in a number of countries, notably in Europe. This is due to colder [...]
Half of UK businesses to increase prices as supply and labour costs rise November 30, 2021 Half of UK businesses expect to raise prices as the economy faces higher labour and supply chain costs according to Lloyds Bank.
Swelling costs threaten to throw UK businesses into a ‘winter freeze’ November 30, 2021 A “winter freeze” is looming over UK businesses triggered by the ongoing supply chain crisis swelling costs at a record pace, according to fresh figures published today. Shortages of key materials used by firms engineered by global logistics systems gumming up has raised prices across the board, crimping businesses’ margins. Research by the Confederation of [...]
Code red Omicron scenario would setback UK economic recovery, warn experts November 29, 2021 The UK economy would suffer a severe setback in its battle to revert to pre-pandemic strength if the Omicron variant proves to be deadly, City economists have warned. If the heavily mutated strain of the virus is capable of evading vaccines and the UK government reimposes blanket lockdown measures, the economy would shrink back to [...]
Mortgage approvals drop dramatically as market hits ‘tipping point’ after stamp duty holiday November 29, 2021 Mortgage approvals for house purchase dropped sharply after the end of the stamp duty holiday, the Bank of England said. Mortgage approvals for house purchase dropped down to 67,200 in October from 71,900 in September, close to the 12-month average up to February 2020 of 66,700. However, approvals in October remained above the pre-Covid averages [...]
Mel Stride MP urges chancellor to slash taxes to ease cost of living crisis November 29, 2021 The chairman of an influential group of MPs that scrutinises the spending plans of the government has told Tory chancellor Rishi Sunak to slash taxes to ease the cost of living crisis looming over Brits. Speaking to the PA news agency, Conservative MP Mel Stride, who chairs the Treasury Committee, called on the chancellor to [...]
All eyes on the open: Investors brace for choppy week as Omicron looms over markets November 28, 2021 Investors are bracing for a choppy week on markets as fears the new Omicron variant of coronavirus could derail the global battle against the disease spread rapidly. London markets capped off last week with a mauling driven by a wave of selling triggered by the emergence of the new Covid-19 variant which may have the [...]