Londoners’ anxiety skyrockets 57 per cent due to rising bills, going out less November 1, 2022 Almost sixty per cent of Londoners are increasingly anxious about rising energy bills, with millions eating less healthily and staying in more to save cash. The human impact of the cost of living crisis continues to deepen, with new figures exposing a deep generational dive between young professionals and over-65s. The data, published by Personal [...]
Low battery: Britishvolt on life support in blow to UK’s tech ambitions October 31, 2022 Feted battery firm Britishvolt is on life support e after running its cash pile dry, amid growing concerns for the UK's green ambitions.
Homeware retailers ‘draw short straw’ in economic crunch as Made.com nears collapse October 31, 2022 Homeware retailers are facing a turbulent 2023 as mounting operational costs and hesitant consumer sentiment piles the pressure on the sector. It comes as Made.com was still teetering on the brink of collapse on Monday after customers have pulled back from spending on pricier items like furniture. Last week, the ailing sofa seller said it [...]
More a third of hospitality businesses fear last orders due to cost crunch October 31, 2022 More than a third of pubs and restaurants are facing last orders by early next year due to the pressures of historically high inflation. Pubs have been hit with soaring energy, food and wage costs, as they seek to rebuild after the Covid-19 pandemic. These mounting costs have resulted in 35 per cent of businesses [...]
Apollo strikes crypto deal with Anchorage in digital asset push October 31, 2022 Asset management giant Apollo has begun holding crypto on behalf of its clients after striking a deal with digital asset bank Anchorage Digital, in a vote of confidence in the future of crypto after a rocky few months in the market.
Britishvolt ‘actively working’ on stability amid reports of imminent collapse October 31, 2022 Electric vehicle battery startup Britishvolt is on the verge of collapse, after reportedly running its cash pile dry.
Eurozone inflation breaches forecasts to hit record 10.7 per cent October 31, 2022 Eurozone inflation has surged past expectations to 10.7 per cent this month in a further sign the European Central Bank (ECB) will have to keep heaping misery on businesses and households to tame prices. Prices continued to climb rapidly in all the bloc’s major economies, signalling the effects of the ECB’s pivot from years of [...]
Asda completes £611m swoop for Co-op’s petrol business October 31, 2022 Asda has completed a £600m deal to buy the Co-op’s petrol business Asda this morning. The deal includes 129 petrol forecourt sites, spread across the UK and represents five per cent of Co-op’s retail estate of 2,564 stores. Co-op said it would use the proceeds to reinvest in the convenience business and reduce net [...]
All eyes on the EU as ECB faces ‘nightmare scenario’ of record inflation and need to hike rates again October 31, 2022 Last week was the fourth successive week of gains for equity markets in Europe as well as the US, despite some high-profile earnings misses. It’s been particularly notable that while there were some notable earnings misses, especially in the tech sector, by and large the more traditional areas of the market have performed better. “While [...]
City in shock as £1.3 trillion is wiped off value of UK bonds in record sell-off October 31, 2022 More than £1.3 trillion has been wiped off the value of UK bonds since the start of 2022 following a major sell-off across bond markets, according to new figures. Just over £882bn has been wiped off the value of Gilts and Index-linked Gilts, which have fallen 26.4 per cent and 36.2 per cent respectively in [...]