Inflation forces one in three Brits to trade down to cheaper products September 26, 2022 Brits are trading down to cheaper products in response to rampant inflation squeezing their finances, a survey published today shows. A third of consumers are buying more own brand products, while one in four are turning to cheaper retailers in a bid to cap their weekly shop, according to consultancy KPMG. The research illustrates the [...]
Liz Truss cost of living support fails to prevent new consumer confidence low September 23, 2022 Liz Truss’s cost of living support has done nothing to lift Brits’ optimism out of the doldrums, a closely watched survey published today reveals. Consumer confidence collapsed five points over the last month to minus 49, the lowest since research firm GfK started tracking the figures in 1974. The survey was carried out between early [...]
Are you ready for multidimensional metaverses? September 22, 2022 Dr Chris Kacher explains how recession and on-risk assets are heading towards multidimensional metaverses.
Lidl now highest-paying supermarket in UK with £39.5m investment in staff salaries September 22, 2022 Discount giant Lidl has committed £39.5 in salary increases to its store and warehouse staff, becoming the highest-paying supermarket in Britain. The retailer is increasing hourly rates from £10.10 to £10.90 outside the capital, and within London, hourly wages will go up to £11.30 and £11.95 inside the M25. , Some workers are set to [...]
Sterling’s freefall is global but there are still markets where the Pound buys you more than last year September 22, 2022 The pound has tanked again against the dollar and is now down 18 per cent year-on-year. As the Bank of England prepares to hike interest rates later today, Sterling has endured a rough ride on the currency markets over the last 12 months. As a result, this is making holidays more expensive in 48 out [...]
Ten Entertainment scores yet another strike as it heads for expansion and keeps price freeze plans September 21, 2022 Bowling firm Ten Entertainment confirmed plans to open three new alleys in the next six months as it heads for a post-pandemic victory. The firm posted sales of £63.2m in the first half of 2022, up 53 per cent on pre-pandemic levels, while pre-tax profits rocketed 121 per cent to £15.7m. The Bedford-based company notably [...]
John Lewis posts £92m loss after ‘unprecedented cost inflation’ September 15, 2022 John Lewis Partnership has posted a £92m loss before tax, blaming shoppers spending less due to inflationary pressures in the first half of the year. This was versus a £69m profit compared to the same period last year, although the partnership said on Thursday it was “not unusual for us” to make a loss in [...]
London’s FTSE 100 dips after weaker than expected UK inflation September 14, 2022 London’s FTSE 100 dripped lower today after fresh figures revealed UK inflation is cooling. The capital’s premier index tumbled 1.47 per cent to 7,277.30 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 1.66 per cent to below the 19,000 point mark. Traders were [...]
Climate sceptic Bjorn Lomborg’s stark warning: ‘People will rebel against green policies’ September 14, 2022 Climate sceptic Bjorn Lomborg is President of the Copenhagen Consensus and Visiting Fellow at Stanford University’s Hoover Institution. Today he explains in City A.M. why green policies will simply not work. The disconnect between the global elite and the real world is growing by the day. Most people are worn down by the pandemic, food [...]
Desperate small businesses beg government for immediate help as bills spiral out of control September 14, 2022 A range of small businesses said this morning that their energy bills have more than doubled in the past three months alone. Firms are therefore eagerly looking to next week’s expected mini budget for help with soaring bills despite the slight easing in inflation. Lesley So, founder of Derby-based eco-friendly drinks manufacturer So Good Kombucha, [...]