Lidl now highest-paying supermarket in UK with £39.5m investment in staff salaries September 22, 2022 Discount giant Lidl has committed £39.5 in salary increases to its store and warehouse staff, becoming the highest-paying supermarket in Britain. The retailer is increasing hourly rates from £10.10 to £10.90 outside the capital, and within London, hourly wages will go up to £11.30 and £11.95 inside the M25. , Some workers are set to [...]
Ethereum’s post-merge slide continues to cause concern September 22, 2022 The price of Ethereum continues to slip this morning, falling another 3.77 per cent over the past 24 hours to $1,278.
Sterling’s freefall is global but there are still markets where the Pound buys you more than last year September 22, 2022 The pound has tanked again against the dollar and is now down 18 per cent year-on-year. As the Bank of England prepares to hike interest rates later today, Sterling has endured a rough ride on the currency markets over the last 12 months. As a result, this is making holidays more expensive in 48 out [...]
Sadiq Khan: Income tax cuts to ‘disproportionately benefit’ wealthiest September 22, 2022 The Chancellor’s proposed cuts to income tax will “disproportionately benefit” society’s wealthiest, according to an analysis by the Greater London Authority (GLA). Figures showed that, by introducing a 1p cut, those on a £150,000 per year salary would have a tax relief of £1,950 while those earning the least would not see any benefit. “Tomorrow’s [...]
Britain’s millionaires still feel like they are cash poor September 22, 2022 In 2021, global wealth grew by 12.7 per cent according to the latest Credit Suisse Global Wealth Report, published this week. There are now over 60 million millionaires in the world, more than twice as many as in 2011, a mere decade ago. Britain has 4,180 people who are worth over $100m each, and a [...]
Federal Reserve backs third jumbo rate hike to unpick inflation out of US economy September 21, 2022 The Federal Reserve backed a third successive jumbo-sized interest rate hike today as it scrambles to unpick inflation out of the US economy. Chair Jerome Powell and co hoisted the global financial system’s most important rate 75 basis points to between three and 3.25 per cent. Wall Street edged lower after the move. The tech-heavy [...]
Liz Truss tax cuts must be bolder to revive UK economy, Thatcherite thinks tank claims September 21, 2022 Liz Truss must be even bolder than cancelling the corporation tax rise to unlock the UK’s full economic potential, a Thatcherite think tank has claimed today. The prime minister’s chancellor, Kwasi Kwarteng, is expected to reverse the six percentage point corporation tax hike at this Friday’s mini-budget. The move will generate a 1.2 per cent [...]
Housebuilder shares rally after rumours of stamp duty cut September 21, 2022 Housebuilders shares rallied on Wednesday after reports Prime Minister Liz Truss is set to slash stamp duty in her mini-budget on Friday. Truss is expected to announce a cut to stamp duty as a rabbit in the mini-budget, a report in The Times newspaper suggested. The report, which suggested Truss intends the policy to fuel [...]
What are the key factors that can sink M&A? September 21, 2022 2021 saw booming markets and the release of capital from investors that had built up during the pandemic. It was a record-breaking year for mergers and acquisitions (M&A) activity. This year, circumstances are quite different. Economies are now dealing with geopolitical issues like the Russia-Ukraine war, rising inflation and interest rates, and declining company valuations, [...]
Ten Entertainment scores yet another strike as it heads for expansion and keeps price freeze plans September 21, 2022 Bowling firm Ten Entertainment confirmed plans to open three new alleys in the next six months as it heads for a post-pandemic victory. The firm posted sales of £63.2m in the first half of 2022, up 53 per cent on pre-pandemic levels, while pre-tax profits rocketed 121 per cent to £15.7m. The Bedford-based company notably [...]