Conservatives are paralysed by a false idea of what the ‘take back control’ means August 12, 2022 The Brexit promise to “take back control” has been translated to mean scrap all European regulation
Exclusive: Bank of England is ‘taking money from homeowners to curb inflation’ August 11, 2022 HOUSE prices will soon start to “flatline” following years of double digit rises, a leading property association claims this morning. Property values have continued to soar over the past two years in most regions of the UK – often defying predictions by economists who are convinced a crash is on the horizon. The National Association [...]
Growing inequality and financial strain is a threat to London’s social cohesion August 11, 2022 OUR great city works well because we Londoners muddle through together without too much friction. “Live and let live”’ has a claim to be the defining London motto. But there have been times where that harmony has shattered. I remember the shock of Tottenham and Croydon burning in August 2011 and of shops being boarded [...]
Heatwave drives retail sales but autumn slowdown anticipated as inflation masks falling volumes August 9, 2022 The summer is set to be “the lull before the storm,” with consumers splashing out on heatwave essentials at the tills while inflation masks a drop in volume sales. UK retail sales increased 1.6 per cent on a like-for-like basis from July 2021, according to the British Retail Consortium (BRC) and KPMG sales monitor. However, [...]
Global money transfers surged 60 per cent over the last decade to £538bn in the past year August 8, 2022 Global money transfers reached $653bn (£538bn) in the past year, a rise of 60 per cent over the last 10 years as economic trouble hits countries. Research by remittance provider ACE Money Transfer said the rise began as the world recovered from 2008’s global financial crisis in 2011-2012, with remittances important in aiding developing countries [...]
Half of all Brits risks falling into fuel poverty before the end of this year in harshest economic climate ever August 6, 2022 UK adults say the current economic climate is the harshest they have experienced, with half of all Brits either unable or soon to be unable to pay all of their bills. Millions of Brits are concerned about the months ahead as 47 per cent said they are not confident in their ability to pay their [...]
Don’t blame shops for prices if leaders can’t stop inflation August 5, 2022 Inflation is soaring and the UK’s food and drink manufacturers are under incredible pressure. No one can remember such sustained, relentless price rises across all our inputs – everything, from energy and ingredients to transport and wages, is more expensive. With food price inflation now at 9.8 per cent, everyone is asking: how much further [...]
Sofa seller ScS cautions cost-of-living pressures have slowed orders down August 4, 2022 ScS has warned that cost-of-living pressures have already driven down orders although the sofa business still lifted its profit expectations for the rest of the year. The furniture retailer reported a 3.9 per cent increase in orders in the year to 30 July, compared with the previous year. The company said a stronger than expected [...]
UK inflation to surge above 15 per cent, more than seven times Bank of England target August 4, 2022 The Bank of England faces the grim prospect of overseeing the largest inflation surge in recent memory, with prices rising more than seven times faster than its target, a top think tank warned today. A sustained surge in energy costs triggered by Russia’s invasion of Ukraine and a sudden burst in demand after the Covid-19 [...]
Sheepish consumers deal blow to UK services economy August 3, 2022 Consumers cutting spending in response to a historic inflation surge has weighed on growth in the UK’s services economy, reveals a closely watched survey published today. Brits are being squeezed by soaring living costs eroding their incomes, prompting them to cut unnecessary spending to protect their finances. As a result, growth in the services industry [...]