Premier Foods leave sour taste with declining revenues November 16, 2021 Premier Foods has suffered a decline in revenue and operating profit in its half-year results. The owner of beloved household brands such as Mr Kipling, Ambrosia, Angel Delight, Sharwoods, and Oxo has left investors with a sour taste in their mouths as earnings per share have halved since the previous year. In its half-year report, [...]
City warns Bank of England inflation will soar to double its target November 15, 2021 Inflation in the UK will scale to double the Bank of England’s target, raising fresh questions over the credibility of the Old Lady’s actions, City economists have warned. A toxic combination of soaring petrol, energy and food costs and restaurants hiking prices after the end of a VAT tax holiday will lift inflation to around [...]
Ministers mull two-year BBC licence fee freeze November 7, 2021 Ministers are weighing up freezing the BBC licence fee at £159 for up to two years as the cost of living soars. With households facing increasing energy, fuel and food prices, ministers and the BBC are in talks over freezing the fee, according to the Sunday Telegraph. Insiders told the newspaper that talks between the [...]
Inflation to peak at five per cent, warns Bank of England November 4, 2021 The Bank of England will persistently miss its inflation target over the next two years, according to fresh forecasts published by the Old Lady today. Officials on Threadneedle Street expect the rate of price rises to peak at five per cent in April next year and stay above its two per cent target in two [...]
Five charts which explain what is going on with inflation November 1, 2021 “Output gap”, “bottlenecks”, “core inflation”, “base effects”, “second-round effects” “labour participation rate”. These are some of the key industry terms essential to understanding what’s going on with inflation. Soaring job vacancies reflect the strong economic recovery of the world’s major economies, as Covid-19 induced restrictions have been gradually eased. Shortages of materials, energy and transport [...]
Can UK handle a rate rise as economy rebounds? November 1, 2021 The UK economy grew by 0.4% in the month of August after latest estimates showed GDP contracted in July by 0.1%. July was disrupted by a spike in infections and tougher restrictions on self-isolation and testing for anyone in contact with those testing positive for Covid-19. This was known as the “pingdemic”, referring to the [...]
A new dawn of cryptocurrency is forcing us to re-evaluate our faith in our institutions of state October 29, 2021 Talking about a revolution, as Tracy Chapman reminded us, isn’t new. For many years, many have. But we only ever know we’ve lived through when we look back. Today, the writing is on the walls for a moment of fundamental change. Over the last week we’ve seen Bitcoin and Ethereum hit historic highs while take [...]
The party’s over: Pub bosses warn pint prices will rise despite Budget promises October 28, 2021 A major pub boss has swiftly ended the party for cheaper pints, warning prices could creep up by 25p to 30p in spite of the 3p price cut promised by ‘fizzy Rishi’ in Wednesday’s Budget. Speaking to BBC’s Today Programme, Shepherd Neame chief executive Jonathan Neame, whose brewery runs 300 pubs across the South East, [...]
JD Wetherspoon launches 99p pints despite sector warning of cost pressures October 27, 2021 Pub giant JD Wetherspoon has put 99p pints back on the menu as the pub sector battles rising costs. The operator said it would slash the prices on a range of drinks throughout November in a bid to lure post-lockdown drinkers back. Across its 671 pubs in England, JD Wetherspoon (JDW) will sell three alcoholic [...]
Higher prices anticipated in approach to Christmas October 27, 2021 Retail bosses have warned once more that consumers will feel the pinch of price rises in the run up to Christmas. Consumer prices have been projected to rise up to 20 per cent over the next few weeks, according to the Salesforce Shopping Index. This is due to worker and raw material shortages. Food inflation [...]