Bank of England governor Andrew Bailey and chief wonk Huw Pill admit they botched inflation forecasts May 23, 2023 Top officials at the Bank of England today admitted they have undershot the strength of inflation, with governor Andrew Bailey confessing the central bank has some “very big” lessons to learn over how it sets interest rates. MPs on the influential treasury select committee slammed members of the monetary policy committee (MPC) for failing to [...]
The Notebook: Victoria Scholar on the Fed’s new move, Adidas’s Yeezy problem and Shell’s AGM showdown May 23, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Interactive Investor’s Victoria Scholar. After 10 straight hikes, is it now time for a ‘Fed skip’? Forget the hike, pause and cut, the new word to enter the lexicon of central bank watchers is the ‘Fed skip’. US monetary policymakers [...]
Chancellor to discuss food prices with CMA May 23, 2023 Today the Chancellor Jeremy Hunt will meet with food manufacturers to discuss the cost of food and explore ways to ease pressure on households. The government says Hunt will raise concerns about high prices of food in the UK and discuss measures the government and industry could put in place to help households. Hunt said: [...]
UK inflation poised to slip out of the double digits to lowest level in over a year May 22, 2023 UK inflation is poised to tumble to its lowest level in over a year in what is expected to begin a steady descent from its multi-decade highs, new figures out this week are likely to reveal. The rate of price increases in April is tipped to have dropped markedly to 8.2 per cent last month, [...]
Consumer confidence continues to recover as double-digit inflation fails to deter Brits from splashing cash May 19, 2023 Consumer confidence in the year ahead is continuing to recover despite persistent cost-of-living pressures, a long-running survey suggests. GfK’s Consumer Confidence Index rose by three points in May to minus 27, the fourth monthly increase in a row from January’s minus 45. Confidence in personal finances over the coming 12 months saw a “robust” five-point [...]
Asda accused of ‘fire and rehire’ in row over pay cut plans for 7,000 May 18, 2023 Asda and a union representing 7,000 workers have entered into a furious row, after the supermarket giant was accused of “inexcusable” pay cut plans. The chain rejected claims it is going to cut the pay of 7,000 low-paid retail workers, insisting it is in the middle of a consultation to remove an “anomaly” in the [...]
900 City of London Corporation staff to strike this month – with Tower Bridge, Barbican and Old Bailey impacted May 18, 2023 Workers at tourist attractions across London are to strike in a dispute over pay. The GMB union said 900 of its members employed by the City of London Corporation will walk out on May 25 at attractions including Tower Bridge, Barbican, museums, gardens, parks and markets after voting overwhelmingly in favour of industrial action. The [...]
Why the network state is the next logical evolution to current forms of governance: Part 2… May 18, 2023 Dr Chris Kacher with his second instalment of 'The Network Web3/Blockchain/Money State' as he hails decentralisation.
Sign of the times: Super Noodles sales boost FTSE 250 outfit May 18, 2023 Premier Foods reported stronger annual profits in its preliminary results this morning, with a 13 per cent jump in pre-tax profits for the year ending in April to £137m, as strong brand performance helped the manufacturer weather supply chain disruption and high costs. The company, the maker of brands such as Mr Kipling, Ambrosia, Custard [...]
Bank of England governor Andrew Bailey warns of uncertainty over inflation drop May 17, 2023 The risk of inflation staying higher for longer than the Bank of England’s two per cent target than it expects is mounting due to the slow reduction of wage pressures and price rises, the Governor of the central bank warned today. Speaking at the British Chambers of Commerce’s (BCC) annual conference, Andrew Bailey warned the [...]