All quiet on the home front: a resettling is on the cards for new homes and mortgages December 12, 2022 The UK economy has weathered its fair share of turbulent storms over the past few years: from a global pandemic, to war, burgeoning energy prices and now escalating cost of living pressures and interest rates; yet the housing market has remained robust throughout. But rising costs are catching up with potential homebuyers. The next two [...]
UK factories on course to sink into recession next year December 12, 2022 UK factories are on course to sink into recession next year driven by the wider economic slowdown and swelling costs cooling activity, a new survey out today shows. Manufacturing output will shrink 3.2 per cent in 2023, according to Make UK and BDO. The pair have been consistently slashing their forecasts for industrial output throughout [...]
London economy contracts as rampant inflation chills spending December 12, 2022 London’s economy contracted last month as it is squeezed by roaring inflation and swelling business costs, a new survey out today shows. Rampant price rises prompting a spending slowdown from consumers sent a chill through businesses in November, according to NatWest’s purchasing managers’ index (PMI). The high street bank’s PMI dropped to a 22-month low [...]
Christmas strikes: Government to hold crisis meetings as army called in December 11, 2022 The government will hold a series of crisis meetings this week to try and minimise disruption during widespread Christmas strikes, with the government now calling in the military. Cabinet Office minister Oliver Dowden will convene two Cobra meetings with ministers from several departments as the UK faces crippling strikes in hospitals, airports and railways. The [...]
City braces for final economic figures before Christmas break December 11, 2022 The City is bracing for a string of big economic announcements in what will be the final busy week of news before the Christmas break. Tomorrow, fresh gross domestic product (GDP) figures from the Office for National Statistics (ONS) are expected to show the UK economy recovered in October. But, the 0.4 per cent growth [...]
Tesco on the hunt to replace outgoing chairman John Allan December 10, 2022 Tesco is reportedly looking replace outgoing chairman John Allan, who is set to step down in 2024. Sources told Sky News’ Mark Kleinman that external headhunters had been appointed to help with the recruitment process. Byron Grote – former BP finance boss and non-executive director of the supermarket chain – will lead the search internally. [...]
Pubs optimistic ahead of England v France tonight as World Cup proves ‘shining light’ this winter December 10, 2022 Publicans will be eagerly hoping for extra time at the England v France match this evening, when venues will be hosting “one of the biggest nights of the year.” With the Three Lions set to take on the tournament’s quarter final this weekend, pub and bar bosses have said the game will draw in huge [...]
How ESG has impacted technology and innovation sectors December 9, 2022 Increasing examples of environmental, social and governance (ESG) targets linking to executive incentive pay (sometimes as much as 20%) represents a financially lucrative area business leaders need to ensure they are getting right. ESG is a broad term comprising interlinked yet distinctive ways to evaluate the sustainability credentials of a business, including corporate governance, inclusion [...]
Rapid delivery behemoth Getir acquires Gorillas for $1.2bn in continued consolidation December 9, 2022 Speedy grocery delivery app Getir has announced the acquisition of rival Gorillas, after months of takeover talks. The deal was testament to Getir’s market-leading position in the sector, Nazim Salur, who founded the firm in 2015 said. “Markets go up and down, but consumers love our service and convenience is here to stay,” Salur said. [...]
Regime shift: investing into the new era December 9, 2022 As this economic cycle ends, we shouldn’t expect to see the patterns of the past decade repeated. A new regime in policy and market behaviour is unfolding which investors need to understand if they are to find the best opportunities and safeguard their portfolios. The re-opening of economies after Covid sparked a phenomenon investors have [...]