Rampant inflation swells UK debt interest bill and pushes up government borrowing June 23, 2022 Inflation is swelling the UK’s interest bill and forcing the government to borrow more money to pay investors, official figures released today revealed. The amount of money the government paid to holders of UK debt jumped just over 70 per cent over the last year, reaching £7.6bn in May, up from £4.5bn last year, according [...]
UK factories hit by fastest cost rise since 1980s June 22, 2022 The price of materials used by UK factories are rising at the fastest pace on record in a sign that consumers could soon be spiked by a further inflation surge, fresh figures published today reveal. Input prices soared just over 22 per cent over the year to May, the fastest acceleration since the Office for [...]
UK inflation highest in G7, dialling up pressure on Bank of England to raise rates again June 22, 2022 The likelihood of the Bank of England hiking interest rates for the sixth time in a row is ramping up after new figures revealed the UK has the highest inflation in the G7. Prices climbed 9.1 per cent annually in May, up from April’s already four decade high rate of nine per cent, according to [...]
Inflation jumps to 9.1 per cent: Worried City insiders respond to consumer prices climbing again June 22, 2022 The rate of inflation rose again in May, remaining at 40-year highs, the Office for National Statistics said this morning. The rate of Consumer Prices Index inflation rose slightly to 9.1 per cent in May from 9 per cent in April, according to the ONS. The increase matches what analysts had expected. “Though still at [...]
UK inflation to bump above 40-year high on soaring food and energy prices June 20, 2022 The cost of living in the UK bumped above an already 40-year high last month driven higher by soaring energy and food prices. That’s according to the City’s consensus prediction of Wednesday’s new inflation figures from the Office for National Statistics (ONS). Analysts expect prices to have climbed 9.1 per cent over the year to [...]
M&S names Alex Freudmann as new director of food June 20, 2022 M&S has named Alex Freudmann as its new managing director of food after Stuart Machin has taken up the job of chief executive. The retailer announced on Monday that Freudmann, who is currently the managing director of Australian alcohol seller Dan Murphy, would lead the supermarket’s grocery arm from November. As of 1 November, CEO [...]
Indignant brokers fiercely dismiss Martin Lewis’ notion many mortgages are ‘a ticking time bomb’ June 19, 2022 The well-known personal finance guru Martin Lewis recently warned that mortgages are a “ticking time bomb” for homeowners, as he said Brits should lock in cheap mortgage rates soon before monthly payments become unaffordable. Lewis’ comments come as the cost of living for most Brits is climbing fast, with energy bills going up by an [...]
1 Minute Market Rundown – 17th June 2022 June 17, 2022 Volatility ReignsUSD Bruised But Beaten YetCrypto Holds….For Now Well yesterday was not a day for the faint hearted – again! The SNB and the BOE both raised rates, one surprising the market by its move and one sticking to the script. The BOE acknowledged that inflation is out of control and the market took this [...]
Inside Britain’s food wars: exaggerated veggie claims risk a diet culture war June 17, 2022 Remember being told an apple a day keeps the doctor away? Not so simple, it turns out, as the government discovered with its new Food Strategy, with its plans to halve childhood obesity and make farming in the UK more resilient. The strategy follows an independent review by Henry Dimbleby, the co-founder of restaurant chain [...]
Taco Bell ‘on fire’ as Mexican fast-food chain gears up for 100th UK site June 16, 2022 “We’re on fire” is how Taco Bell International’s president Julie Felss Masino described the Mexican fast food chain’s rollout to CityA.M. After launching 50 sites in the UK over the past decade, the US-based firm has expanded by another extra 50 sites in just the past 18 months. The chain, a subsidiary of Pizza Hut [...]