Sanctions on Russia are on a collision course with Europe’s green ambitions October 14, 2022 These days, Europe is seen as the weak link in the developed economic world. The European stock market is underperforming its US rival, down 22 per cent year-to-date. Even risky emerging markets are doing better. Likewise, Europe’s surging inflation rates, in countries like Germany and Spain (not to mention what the UK is going through), [...]
Young punters protect Boxpark sales from consumer slowdown October 13, 2022 Young Londoners receiving inflation-related salary boosts has helped to protect Boxpark from a slowdown in discretionary spending, its CEO has said. The shipping container hospitality concept has seen sales increase by double digits compared to the previous year, with London sites in East Croydon, Shoreditch and Wembley “trading really well,” Simon Champion told CityA.M. The [...]
Boris Johnson pockets £150k in 30 mins as former PM skips crucial Commons vote to jet off to Colorado October 13, 2022 Former prime minister Boris Johnson touched down in the USA on Tuesday as the ex-Tory leader gave a speech to an insurance industry group on Tuesday afternoon, thereby reportedly collecting around £150,000 for a 30 mins speech. Johnson addressed conference delegates in Colorado Springs, roughly at the same time while the House of Commons was [...]
M&S to speed up plans to close 1 in 4 larger clothing stores October 12, 2022 Marks & Spencer will accelerate its plans to slash the number of its larger stores that sell clothing and homeware products. In an update to investors on Wednesday, the supermarket revealed it would shutter more than one in four of its so-called full-line stores within three years rather than five. Plans also include the opening [...]
Pret A Manger invests £10m in staff pay bringing salaries above inflation October 11, 2022 Pret A Manger will invest £10m to support its staff with the cost of living crisis, bringing pay above inflation. The outlet will give its workers a salary boost from 1 December to the tune of five per cent. This comes after the coffee chain invested £9.2m in April this year, with 6,500 of its [...]
Shoppers face £643 increase to yearly grocery bill October 11, 2022 Shoppers are facing an additional £643 jump in their annual grocery bill as grocery price inflation breaks another record. According to freshly published data from Kantar, grocery inflation sits at 13.9 per cent, the highest level since the data firm started tracking prices in the 2008 financial crisis. The average household’s annual grocery bill is [...]
Greencore profit held back by rail strikes and bank holiday October 11, 2022 Food manufacturing giant Greencore has seen profits dented by rail strikes and the bank holiday for the Queen’s funeral in September. In a fourth quarter and full year trading update, the convenience food maker placed its adjusted operating profit at the lower range of £72-77m. The London-listed firm said it had been forced to absorb [...]
Nightclubs hit back at killjoy neighbours as sector stares down ‘fight for survival’ October 6, 2022 The nightclub industry is facing a battle for survival after residents have become accustomed to quieter nights after lockdown, according to bosses. Late night venues in the UK have been attacked by an exponential increase in noise complaints, especially in London hubs, the Night Time Industries Association (NTIA) has claimed. Nightclubs were closed from March [...]
Outrageous raging inflation, and the distortion of CPI October 5, 2022 This week, Dr Chris Kacher pours scorn on CPI while speculating on what might happen if quantitive easing is introduced again.
Greggs: Sausage roll sales rise as consumers look for cheaper eats October 4, 2022 Greggs has reported surging sales this autumn while making no changes to its cost inflation outlook for the year. The sausage roll specialist said on Tuesday that total sales were up 14.6 per cent for the 13 weeks to 1 October 2022, compared to the same period in 2021. Price increases of around five pence [...]