Inflation could surge beyond our bleakest forecast, BoE rate setter warns May 9, 2022 A member of the Bank of England’s group of rate setters has today warned inflation could surge above its own worst expectations. Michael Saunders, an external member of the monetary policy committee (MPC), said unless interest rates keep rising, “inflation pressures [will] probably be greater and more persistent” than the Bank expects. The alert chimes [...]
High gas prices here to stay, as government faces more pressure to provide support with energy bills May 9, 2022 High gas prices will persist for the next three years, warned investment bank Stifel, as millions of households struggle with the cost of living crisis.
London cabbies need to give up an antiquated system holding our economy back May 9, 2022 Have you tried to get an Uber in central London recently, and, upon seeing the price just thought “may as well get a black cab”? At least that way, you skip the hassle of trying to find your designated Toyota Prius and can simply hail a driver from the street. But the cost and expense [...]
Week ahead: Fresh GDP figures to reinforce stagnation fears May 8, 2022 Further evidence that the UK economy is headed into reverse is likely to emerge this week when fresh GDP estimates are released on Thursday. A damning set of forecasts released by the Bank of England last week weighed heavily on London’s top companies. The capital’s premier FTSE 100 index fell 1.61 per cent over the [...]
Beergate: Durham police investigating Keir Starmer over alleged lockdown breaches after ‘receipt of significant new information’ May 6, 2022 Keir Starmer is being investigated by Durham Police over the so-called ‘beergate’ lockdown breach in April last year. Durham Constabulary issued a statement on Friday saying it is looking into the alleged rule-breaking after the “receipt of significant new information”. The force previously said they did not think he had broken rules over a gathering [...]
Investment giants batten down the hatches as inflation soars May 6, 2022 Investment giants are braced for rampant inflation and an extended period of rate hikes after the Bank of England warned yesterday the economy is at risk of sliding into recession this year.
Connecting communities and keeping the customer satisfied May 6, 2022 When it comes to keeping the customer satisfied, Retail FSL has got it down to a tee. Afterall in part it owes its very existence to customer encouragement. The company’s founder Andrew Martin left the demanding world of corporate life where he’d had senior roles, including leading G4S operations in UK and Ireland, for a [...]
Consumer watchdog urges energy users to boost energy efficiency to drive down household bills May 5, 2022 Uswitch.com has called on households to focus on energy efficiency and ramping up insulation to ease the pressure of rising energy bills.
The City View: Bank of England hike rates once more May 5, 2022 Today Andy Silvester talks to Jack Barnett, City A.M.’s Economics and Markets reporter. Together they go through the thinking behind the Bank of England’s 25 basis point rate rise earlier today, which brought the UK’s interest rate to 1%. They take a look at the Bank’s forecasts, and explain why a recession is almost inevitable. [...]
New Sports Direct boss asserts Mike Ashley is ‘not pulling the strings’ amid of price increase warning May 5, 2022 Sports Direct’s new chief has asserted that the retailer’s former boss and his future father-in-law is “not pulling the strings.” In his first interview since stepping into Mike Ashley’s shoes as chief executive of Frasers Group, Michael Murray warned prices would likely go up. The high street titan was facing headwinds “going through the roof,” [...]