Inflation surge reshapes Brits’ spending, but so does end of Covid-19 curbs December 30, 2022 Inflation reaching a 41-year high. Interest rates back to 2008 levels. Mortgage costs up substantially. It’s been a tough year for the Great British consumer. Income growth has failed to keep pace with what was a 11.1 per cent cost of living peak, meaning households have been forced to cut back to protect their finances. [...]
House price growth falls for fourth consecutive month, worst run since 2008 December 30, 2022 House prices have plummeted for the fourth consecutive month by 2.8 per cent in December, the worst run since the financial crisis of 2008. Nationwide’s latest House Price Index shows this month proved to be another sharp slow down in growth down from 4.4 per cent in November. House prices fell by 0.1 per cent [...]
Government ‘sabotaging’ efforts to resolve strike waves, new TUC boss claims December 29, 2022 The new general secretary of the TUC has accused the Government of “sabotaging” efforts to resolve the wave of strikes continuing to sweep across the country. Paul Nowak takes over the job amid the biggest outbreak of industrial unrest in a generation, with leaders of health, rail, civil service, teaching and postal unions increasingly angry [...]
Govt accused of ‘rank double standards’ as civil servants paid £30m in vouchers December 29, 2022 The Government has been accused of “rank double standards” after giving almost £30 million in high-street vouchers to civil servants amid a pay freeze prompted by the cost-of-living crisis. Sixteen Whitehall departments in 2021-22 paid out a combined total of £29.57 million to staff in the form of ‘reward and recognition’ vouchers, a third more [...]
Currys, Asos and Sainsbury’s top retail stocks this Christmas December 23, 2022 For investors looking to give their portfolios a seasonal shake-up, CityA.M. takes a look at analysts’ selections of the retail stocks to keep a close eye on in the coming weeks. Analysts at Hargreaves Lansdown chose Currys, Asos and Sainsbury’s as the three retail stocks to watch this Christmas. It comes as retailers have been [...]
Oil, pasta and tea see largest price rises as food inflation leaves poorest worst off December 22, 2022 Budget staple grocery products have shot up considerably in price this year, as new analysis shows the most vulnerable have been hardest hit by food inflation. Some 61 per cent of people in the most deprived areas are buying less food compared with last year, according to data from the Office for National Statistics (ONS). [...]
Bunzl acquires four firms and sells healthcare arm December 20, 2022 Bunzl has acquired four businesses and has agreed to sell its UK healthcare division. The specialist distribution group, which sells global businesses a variety of products from coffee cups to cafes, food wrap to supermarkets, and cleaning materials to hospitals, said the transactions would be profit neutral. The FTSE-100 firm said it would sell its [...]
Binance Deals With ‘Stress Test’ as Crypto Market Leverage Drops, FTX Founder is Charged December 19, 2022 Data from CryptoCompare shows that the price of Bitcoin started this past week moving up steadily from around $17,000 to a high above the $18,000 mark, before it quickly collapsed and dropped to $16,500. Ethereum’s ether, the second-largest cryptocurrency by market cap, traded in a similar way, seeing a high of $1,350 after starting the [...]
UK on course for slow burning recession, KPMG predicts December 19, 2022 The UK economy is on track to enter a long recession sparked by households and businesses being squeezed by sky high price rises, new forecasts out today unveil. Gross domestic product (GDP) will shrink 1.3 per cent next year, according to consultancy KPMG, who have become the latest organisation to warn of a protracted slump [...]
Investors set to be cheered by Bunzl’s climbing profits December 18, 2022 Specialist distribution group Bunzl is set to have waded through cost inflation and supply chain challenges and emerged with strong sales at the end of the year. The FTSE 100 company, which sells global businesses a wide range of products from coffee cups to cafes, food wrap to supermarkets, and cleaning materials to hospitals, will [...]