Union announces three-day rail strike at end of June June 7, 2022 The RMT union announced that its anticipated rail strike will take place over three days at the end of the month. Tens of thousands of railway workers will walk out on 21, 23 and 25 June following failed negotiations with Network Rail and 13 other operators. The union announced that London Underground workers will strike [...]
RAC urges more support for drivers amid near-record petrol price spike June 5, 2022 Petrol prices rocketed over 10p last month, the second largest monthly rise on record, putting more pressure on road users.
Pint at London pub surges past £8 price amid sky-high inflation June 4, 2022 The average price of a pint has surpassed £8 at one London pub, for the first time, as historic levels of inflation have forced landlords to up prices across the country. The price tag of a drink has soared over 70 per cent since the financial crisis of 2008, according to data from insights firm [...]
Jubilee high street boom risks being upended by cost of living crisis June 3, 2022 The Jubilee fervour driving shoppers back to bricks-and-mortar stores is “fragile” and could be upended by the cost-of-living crisis, experts have warned. According to figures released by the British Retail Consortium (BRC), visitor numbers inched up 0.6% between April and May, but are down 12.5% since 2019. However, this is ahead of Italy, France and [...]
Ex rate-setter urges BoE to raise interest by 3 per cent to stop inflation June 2, 2022 The Bank of England (BoE) needs to raise its interest rates by 3 per cent if it wants to stop inflation, according to former UK rate-setter Andrew Sentance. Previously an external member of the BoE’s monetary policy committee, Sentance argued that interest rates need to be increased fast to contain inflationary pressures, which last month [...]
Eurozone inflation surges to 8.1 per cent as pressure grows on ECB for rate hikes May 31, 2022 Eurozone inflation surged ahead of expectations to a record high in May as pressure grows on the European Central Bank’s to hike interest rates.
Primark chief regrets raising prices but says it is ‘a reflection of the scale of inflation we are seeing’ May 31, 2022 Primark executive John Bason said he “regrets” the fashion firm’s decision to raise prices. In April, Primark warned that it will increase prices on its autumn and winter collection as costs go up for businesses around the world. The budget fashion chain said it would make “selective” rises in the range. Bason, who is the [...]
The City View: Sainsbury’s to cut prices, and the importance of UK private equity May 30, 2022 Today Andy Silvester talks to Michael Moore, Director General at BVCA. They discuss the scale of private equity and venture capital in the UK, their importance in the UK’s employment market, and how vital they are for companies looking to scale up. And in the headlines: Sainsbury’s CEO Simon Roberts has said that the supermarket [...]
Budget pasta prices leap 50% in a year as affordable household staples come under pressure May 30, 2022 Pasta, crisps and bread are among the affordable staples seeing the largest price hikes, official data has revealed. The Office for National Statistics (ONS) has published fresh figures looking at price inflation for the cheapest items available across food categories. Official analysis has found the cheapest items have surged in price by around as much [...]
Sainsbury’s to pump £500m into offsetting rising costs as CEO says ‘we have to make it easy’ May 30, 2022 Sainsbury’s boss said this morning the supermarket giant plans to pump fresh funds into offsetting rising costs over the rest of the year as shoppers become “increasingly concerned” about their finances. The UK’s second largest supermarket chain said it will invest more than £500m into lower pricing by March 2023 as part of a long-term [...]