Bank of England not to blame for looming record recession, chief economist stresses November 8, 2022 The Bank of England is not to blame for the UK fumbling into the longest recession since records began and rate setters are not “inflation nutters,” its chief economist said today. Huw Pill, who replaced Andy Haldane last year as Threadneedle Street’s top wonk, said the UK’s slowdown is being “driven by other forces” beyond [...]
Barry’s: Office return to City comes ‘hand in hand’ with thriving fitness industry November 8, 2022 The return of office workers and recovery of the fitness sector come “hand in hand”, according to Barry’s Bootcamp London co-founder Sandy Macaskill. Gym-goers’ routines were set off course during the pandemic with “stop-start” closures hitting the fitness industry hard over the past three years. For the head of Barry’s, which has seven studios in London [...]
Mass layoffs at Meta: Is Facebook’s ‘absolute monarch’ Mark Zuckerberg finally listening? November 8, 2022 Facebook-owner Meta did not do well with investors during and after the latest earnings releases. Large institutional investors concluded that founder Mark Zuckerberg is not listening to investor concerns over capital expenditure plans for next year and ballooning operating expenses. But the Wall Street Journal is writing that Meta is now planning a large layoff [...]
UK closes in on mega LNG deal with US to stave off blackout fears November 8, 2022 The UK is set to finalise a major gas deal with the US after the COP27 climate change summit in Egypt this month.
Primark owner takes £1bn extra inflation hit amid ‘most challenging’ economy for many years November 8, 2022 Primark owner Associated British Foods (ABF) saw inflationary costs leap by £1bn this year alone, as it weathers “highly volatile” economic conditions and hopes to retain shoppers with its low prices. The chairman of the fashion and food business, Michael McLintock, said ABF had “encountered the most challenging economic conditions for many years with sharply [...]
‘Slit your throat’: Things looking increasingly ugly for Gavin Williamson as shock allegations pile up November 8, 2022 Pressure is mounting on both Prime Minister Rishi Sunak as well as former Education Secretary Gavin as new allegations about the behaviour of the latter have come to light. Williamson allegedly told a senior civil servant to “slit your throat” in what they claimed was a bullying campaign while he was defence secretary. As a [...]
Retail giants have an opportunity to plug the holes in a disjointed rental market November 8, 2022 For many people up and down the country, their ability to stay in their home is in peril. And this isn’t about mortgages. Rents have jumped steeply this year and many are forced to move as a result. Others will be forced out because of the collateral damage of landlords not being able to pay [...]
Hunt looks at business rates ‘cliff edge’ ahead of fiscal statement November 8, 2022 Jeremy Hunt will make a tough decision on planned business rates hikes next week as business groups warn of “an existential threat” coming in April. British firms are facing a near £3bn annual hike in business rates next year if inflation stays above 10 per cent, according to Altus Group. Commercial properties will have their [...]
Raising windfall tax would be “disastrous” for Britain, says North Sea body November 7, 2022 Expanding the windfall tax would be "disastrous", warned a leading North Sea group in a letter to Chancellor Jeremy Hunt.
Lithium group backs Britain’s green energy transition with new refinery November 7, 2022 A battery-materials start up has chosen Teeside, to build its new lithium refinery in a post-Brexit vote of confidence for the UK.