Eurozone inflation soars to decade high August 31, 2021 Eurozone inflation soared to its highest level in a decade this month to breach the European Central Bank’s target, according to official figures published today. Data released by Eurostat, Europe’s statistical agency, shows prices rose three per cent this month in the 19 countries that make up the Euro area, ticking up from 2.2 per [...]
Beer delivery strike suspended after fresh pay offer August 23, 2021 A nationwide strike by beer draymen has been suspended after an improved pay offer from GXO Logistics Drinks. Draymen – based at 26 sites across the country – will now vote on a pay offer instead of taking industrial action on Tuesday August 24 and Thursday September 2. Unite union has recommended the employees accept [...]
Workers of the world unite! How the post-pandemic recovery is increasing the bargaining power of labour August 23, 2021 More than 114 million people lost their jobs over 2020, according to the International Labor Organization. Even more saw their working hours and wages cut. The worst affected industries were accommodation and food services where global employment declined by over 20%, followed by retail. These sectors were particularly hard hit by lockdowns, forced closures and plummeting tourism. Women and younger workers were badly affected. You could be [...]
‘Pingdemic’ suffocates pubs and restaurants as growth slows for first time since March August 19, 2021 Worker shortages triggered by the “pingdemic” are hitting pubs, bars and restaurants’ trading, according to fresh figures released today. According to Lloyds Bank’s UK recovery tracker, output at food and drink businesses dropped in July as a result these firms struggling to scale supply amid staff shortages and high rates of self-isolation. Output at food [...]
Wall Street opens flat as investors await Fed minutes August 18, 2021 Wall Street’s main benchmarks opened broadly flat today as investors held back from making any sudden moves until after the publication of minutes from the Fed’s latest Federal Open Market Committee meeting. The blue-chip S&P 500 edged 0.07 per cent higher to 4,450.73 points, while the Dow Jones inched down 0.07 per cent to 35,321.59 [...]
Ethereum’s EIP-1559 launch update August 18, 2021 Metaverse guru Dr Chris Kacher says it is time to make way for the era of Bitcoin, Ethereum, and other transformational crypto technologies.
UK GDP soars in second quarter as Covid unlocking turbo-charges economy : CityAM August 12, 2021 The burst in consumer spending triggered by the gradual lifting of Covid prevention measures in April and May boosted the UK economy in the second quarter, according to fresh official data released today. Figures from the Office for National Statistics reveal the UK economy grew 4.8 per cent in the second quarter of this year, [...]
Consumer fatigue slows retail sales growth August 10, 2021 Signs of fatigue among consumers after the initial burst in spending triggered by the gradual easing of Covid restrictions are starting to emerge, according to new figures released today. Research from the British Retail Consortium and KPMG show retail sales jumped 9.8 per cent in July compared to the same period in 2019, before the [...]
Weekend Read: We may be about to find out what shape the recovery takes August 7, 2021 Since the first cases of Covid-19 began to disrupt the global economy, economists have not been shy of predictions. V-shaped, L-shaped, even hockey-stick recoveries have all been on the table. We may be about to find out who was right. While output growth and economic activity are still historically strong, in developed economies, those indicators [...]
London restaurants warned of meat and seafood shortages this autumn August 5, 2021 Rrestaurants and gastropubs in London and the rest of the UK have been warned of potential shortages of key menu items alongside a spike in inflation this autumn. Buying specialist Lynx Purchasing said hospitality businesses would face “significant and widespread” challenges with higher prices and food shortages for the rest of the year, including supply [...]