New year, same strikes: Post-festive return to work disrupted by more rail walk-outs January 2, 2023 Rail passengers will face fresh travel disruption this week because of strikes by tens of thousands of workers in bitter disputes over pay, jobs and conditions. Members of the Rail, Maritime and Transport union (RMT) at Network Rail and 14 train operators will stage two 48-hour walkouts from Tuesday and Friday, while drivers in the [...]
Next: Fashion chain starts January sales early ahead of update January 1, 2023 Fashion chain Next is set to shine a light on the health of the retail sector in the aftermath of the “crucial” Christmas shopping period. Investors will be closely watching the clothing and homeware giant’s trading update on Thursday for detail on its sales figures over the festive season. In August, chief executive Lord Wolfson [...]
Gloomy skies: London’s FTSE 100 set for a rocky start to 2023 January 1, 2023 FTSE 100 could benefit from China re-opening but global headwinds threaten The London market kicks off 2023 with a gloomy backdrop as the UK is forecasted to plunge into recession and economies globally wrestle with sky-high inflation amid the energy and cost crisis. After the extreme volatility of 2022, the FTSE 100 Index is expected [...]
Confidence in UK businesses to improve in 2023 December 31, 2022 Confidence in prospects for UK’s economy are set to improve in 2023, according to an IoD index. The Institute of Directors (IoD) Directors’ Economic Confidence Index measures business leader optimism in prospects for the UK economy. It rose to -58 in December, up from -64 in November with improvements in expectations for revenue, employment, investment [...]
European stocks post biggest fall since 2018 while FTSE 100 ends year in green December 30, 2022 European stocks have notched their worst annual performance in four years driven by investors sweating over soaring inflation, rising interest rates and the prospect of a tough recession in the bloc. The pan-European Stoxx 600, an aggregate of Europe’s top indexes, finished 2022 down nearly 13 per cent, its biggest annual decline since a drop [...]
Not-so-happy New Year: Hospitality bosses expect weaker trade due to strikes December 30, 2022 Hospitality leaders say venues could see weaker trade over the key New Year period after sales were knocked by strike action. But there are signs for optimism amid more bookings and strong demand over the festive period for other areas of the sector. The Night Time Industries Association, which has more than 1,400 members including [...]
Inflation surge reshapes Brits’ spending, but so does end of Covid-19 curbs December 30, 2022 Inflation reaching a 41-year high. Interest rates back to 2008 levels. Mortgage costs up substantially. It’s been a tough year for the Great British consumer. Income growth has failed to keep pace with what was a 11.1 per cent cost of living peak, meaning households have been forced to cut back to protect their finances. [...]
Families facing ‘groundhog year’ in 2023 as living standards to be squeezed December 30, 2022 Families are facing a “groundhog year” as further squeezes on living standards take place in 2023, a think-tank has warned. While the year ahead may offer economic policymakers some relief, with signs inflation will ease and interest rates peak lower than feared, family finances face a repeat of 2022’s squeeze as the cost-of-living crisis deepens, [...]
2023 set to be just as ‘horrendous’ as 2022 with falling pay and soaring energy bills December 30, 2022 Next year looks set to be just as “horrendous” for many families’ living standards as this year, as they are hit with falling pay and soaring energy, tax and mortgage bills, a think tank has warned. Households face a cost-of-living “groundhog year” with disposable incomes plummeting even further than in 2022, which saw the biggest [...]
House price growth falls for fourth consecutive month, worst run since 2008 December 30, 2022 House prices have plummeted for the fourth consecutive month by 2.8 per cent in December, the worst run since the financial crisis of 2008. Nationwide’s latest House Price Index shows this month proved to be another sharp slow down in growth down from 4.4 per cent in November. House prices fell by 0.1 per cent [...]