More than £18bn was added to non-food retail sales by inflation as 80 per cent of retailers prepare to raise prices February 8, 2023 Inflation is set to add £18.2 billion to UK non-food retail sales this year, a report suggests. Sales values are expected to hit £249 billion in 2023, but the 2.6 per cent increase – or an additional £18.2 billion of spending on last year – will be driven entirely by rising consumer prices, according to [...]
Businesses trim hiring ahead of possible UK recession but experts cheer swelling vacancies February 8, 2023 Businesses are reining in hiring ahead of an economic slowdown that could tip the UK into recession, a closely watched survey out today shows. Permanent hires fell for the fourth month in a row last month, with KPMG and the Recruitment and Employment Confederation’s (REC) permanent placement index coming in below the 50 point growth [...]
UK to narrowly avoid recession but cost of living crisis will leave families £4,000 worse off February 8, 2023 The UK is poised to narrowly avoid a recession but the cost of living crisis will still leave average Brits £4,000 worse off this year, fresh forecasts out today reveal. Britain’s economy is set to squeeze out 0.2 per cent of GDP growth in 2023, meaning it will just about swerve a technical reversal, two [...]
100,000 civil servants to walk out on Budget Day, union says February 7, 2023 Around 100,000 civil servants are set to strike on Budget Day, their union has announced, amid a campaign of walkouts over pay disputes. The Public and Commercial Services Union (PCS) said it was escalating action after a “lack of movement” from the government over its concerns over pay, pensions and job security. Walkouts will take [...]
Juventus: Why Italian football’s latest scandal has sent its most successful club tumbling down Serie A – and what it means for Tottenham Hotspur and plans for a European Super League February 7, 2023 While Manchester City are facing claims they systematically broke financial rules, Juventus have already been docked points for their own scandal in Serie A – and it might be about to get worse. Heard the one about the serial domestic champions brought to heel over allegations of systematic abuse of financial regulations? Except this isn’t [...]
BEIS break-up: New department will help government combat energy crisis, argue experts February 7, 2023 Experts say the break-up of BEIS and the emergence of a new energy department could improve government decision making.
Lidl boasts £10m sales growth after winning shoppers from M&S, Waitrose and Sainsbury’s February 7, 2023 The value retailer praised its fruit and veg range for the year on year increase – with its market share for vegetable shopping reaching a high of 10.2 per cent.
Is the metaverse immune to CBDCs? February 7, 2023 Dr Chris Kacher weighs up the pros and cons of CBDCs, and wonders if the metaverse can escape their reach with the aid of Web3.
SoftBank’s Vision Fund loses £4.6bn as tech rout continues February 7, 2023 Japanese investment giant Softbank swung into the red between October and December, driven down by heavy losses at its flagship Vision Fund. Softbank’s Vision Fund suffered the brunt of a global tech rout that has shaved billions from the value of the world’s largest tech firms. Vision Fund booked a loss on its investments of 730.4bn [...]
UK house prices slow to three-year low as cost of living crisis drags down London and South East property market February 7, 2023 In London, house prices fell from £541k to £530k iin January, with annual house price inflation flat at 0.0 per cent compared to 2.9 per cent in December.