L&G report: Inflation is widening gap between rich and poor with ‘pay cut’ for 95 per cent of UK households March 27, 2023 Legal & General’s Rebuilding Britain Index (RBI) found that 95 per cent of working UK households have experienced a real terms pay cut over the last 12-months as rising inflation makes its way felt into nearly all households. UK inflation has surpassed forecasts and stayed in the double digits and the rate of price increases [...]
The Notebook: Royal Mail, Succession and a fabulous rugby charity March 27, 2023 The Notebook is a home for musings and jottings on the Square Mile and beyond. Today, it’s Andy Silvester’s turn. ANOTHER day, another indication that Royal Mail’s future has got lost in the post. Only a fortnight after being referred to the regulator for “systemic letter delivery failures” – a task you’d probably describe as [...]
Sharp increase in retail sales amid ‘subdued’ outlook due to inflation – but is there a ‘chink of light’ with Easter holidays? March 24, 2023 British retail sales grew sharply last month compared to pre-pandemic levels, but price increases continue to deliver a “subdued” longer-term outlook. Sales volumes are thought to have increased by 1.2 per cent in February after a rise of 0.9 per cent in January, suggesting the industry is recovering from the pandemic well. Industry figures are [...]
WIN a ticket to the Crypto AM Spring Awakening event March 23, 2023 With just a week to go until the much-anticipated Crypto AM Spring Awakening event, we’re giving away 10 tickets to our exclusive gathering.
37 per cent of flights delayed last year – but London’s Heathrow, Gatwick and Luton airports not worst offenders March 22, 2023 More than a third of flights to and from UK airports last year were delayed, new figures show. The Civil Aviation Authority (CAA) said an “unacceptable” 37 per cent of flights were at least 15 minutes late in 2022. That is up from 17 per cent in both of the preceding two years and 25 [...]
Pubs are go: Britain’s oldest brewer Shepherd Neame shrugs off strikes and inflation in eight per cent revenue rise March 22, 2023 Britain’s oldest brewer Shepherd Neame has said consumer spending in the wake of the costs of living crisis has “remained strong” as the group posts strong revenues for the 26 weeks to December 2022. The listed pubs group, which operates around London and the South East, posted revenues of £85.3m up 8.4 per cent from [...]
Elizabeth Line usage soars by 41 per cent as London commuters get around tube and rail strikes March 17, 2023 One in six journeys on Britain’s transport network have been made on the new Elizabeth line, with 62m taken on London’s newest railway between October and December 2022. Out of almost 370m rail passenger journeys across the UK, Crossrail accounted for 41 per cent, according to new figures released by the Office for Rail and [...]
Short haul powers London Gatwick’s return to profit after £830m pandemic loss March 16, 2023 London’s second busiest airport, Gatwick, is “cautiously optimistic” about a full recovery from the pandemic as passenger demand levels reach 70 per cent of pre-covid levels. The West Sussex hub reported 32.8m passengers in 2022 as it announced a £250m investment in the site to reach net zero by 2030. In its annual results this [...]
Coal for Christmas? National Grid to pursue emergency supplies for next winter March 16, 2023 National Grid has been requested by the government to explore the procurement of coal power plants for next winter.
Rail strikes: Hospitality says it has lost £3bn as it becomes ‘collateral damage’ in rail dispute March 16, 2023 London retail and hospitality bodies have said that the sector is “suffering” due to ongoing tube strikes as the disruptions continue to take a large bite out of the sector’s earnings. As Tube and rail strikes grind London to a halt this week, trade body UKHospitality has claimed that pub and restaurant businesses are expected [...]