Millions of Brits plunged into financial crisis by whirlpool of inflation and swelling energy bills November 25, 2021 Swelling energy bills, soaring inflation and stinging food costs have plunged millions of Brits into a winter financial crisis, reveal new figures released today. 3.2m poorer households who rely on wafer thin budgets to meet the cost of living will be unable to pay for basic things, research by Citizens Advice, the charity that supports [...]
Catering giant Compass restarts dividend payouts as easing restrictions give profits a lift November 23, 2021 Catering giant Compass said this morning that, despite labour shortages and rising costs, it has restarted shareholder dividend payouts as annual profits jumped higher thanks to easing pandemic restrictions. The world’s biggest caterer saw pre-tax profits more than double to £464m in the year to September 30 from £210m the previous year. Results were bolstered [...]
Retail sales jump by modest 0.8 per cent in October November 19, 2021 UK retail sales rose in October, ending a five-month run of falling or flatlining sales, according to official figures. The Office for National Statistics (ONS) said retail sales volumes rose by 0.8 per cent last month compared to September, following no movement between September and August. The ONS said non-food stores were the only main [...]
Shortage warning: Greggs stores ‘may not have’ vegan sausage rolls November 17, 2021 Fast food chain Greggs has warned its popular vegan sausage roll is among products to have experienced “temporary interruptions” in supply. “Some shops may not have them or may not have them throughout the day. It varies,” a Greggs’ spokesperson told news agency Reuters. The vegan alternative has become a beloved staple of the bakery [...]
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 [...]