London becomes fourth most expensive city in the world: Rent, petrol and cooking oil drive cost of living June 9, 2022 A perfect storm of rising inflation, the war in Ukraine and soaring house prices and rent, have turned London in to a pressure cooker of expense, making it the fourth most costly place to live in the world. London move up one place according to new research about cost of living for expatriates around the [...]
Fuller’s toasts return to profit amid ‘fragile’ consumer confidence June 9, 2022 Pub chain Fuller’s is back in the black after posting an adjusted profit before tax of £7.2m, as the licensed trade recovers from the pandemic. In results for the year to 26 March, the pub operator saw profit back in growth after posting a £48.7m loss in 2021, when Covid lockdowns enforced the closure of [...]
Labour throws weight behind biggest railway strike in decades: ‘We are on the rail workers’ side’ June 9, 2022 Shadow levelling up secretary Lisa Nandy has said she supports the strikes by rail workers in the coming weeks if the Government fails to address their concerns. Speaking on ITV’s Good Morning Britain, she said: “We want to avoid the strikes and we’re on the public’s side on this. “We’re also on the rail workers’ [...]
Franco Manca owner says restaurants in office locations struggling to return to pre-Covid trade June 8, 2022 The owner of pizza chain Franco Manca has said its restaurants situated nearby office hubs “still have a way to go” with returning to pre-pandemic levels. However, Fulham Shore said that its small number of restaurants situated in worker hotspots were “showing continued improvement” as demand recovers after Covid lockdowns. Footfall was down 15 per [...]
City Pub Group evaluates menu offering as increased headwinds hammer sector June 8, 2022 The City Pub Group’s sales have surged faster than predicted, with last month’s results slightly ahead of pre-pandemic levels. The pub operator said it was trying to mitigate historic cost inflation hitting the sector, with a “particular focus on labour scheduling to maximise sales and efficiency.” “Control of energy usage and procurement remains a key [...]
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 [...]