Manufacturing output sinks at fastest rate since early months of Covid pandemic September 1, 2022 Manufacturing production and new orders in the UK slumped last month, sinking at the fastest rate since since the early months of the Covid pandemic two years ago. Firms are experiencing a downturn in the sector, as manufacturers have been hit with a reversal in new orders from domestic and overseas customers. Headwinds have been [...]
Issa brothers’ EG Group posts subdued profit due to cost of living pressures on consumers September 1, 2022 The Issa brothers’ EG Group has posted subdued profit for the second quarter, as the petrol station forecourt operator said “the cost-of-living squeeze remains front of mind for all of us.” EG Group saw group EBITDA slump 6.5 per cent to $355m (£308m), for the three months to 30 June, it shared on Thursday. The [...]
Manufacturers urge government to table support package in face of ‘stormy waters’ September 1, 2022 The government has been urged to table a support package for the British manufacturers. Industry body Make UK has warned that rising gas and oil prices and overall inflation will “shatter” expectations of a sustaining a pandemic recovery. “We are clearly heading for very stormy waters in the face of eyewatering increases in energy costs [...]
Pound on crash course to record low against US dollar September 1, 2022 The pound is on course to plunge to a record low against the US dollar driven by the UK tumbling into a tough recession, City economists warned today. Sterling will drop to $1.05 by the middle of next year, but could fall close to parity with the greenback, according to consultancy Capital Economics. The downbeat [...]
Lufthansa axes 800 flights tomorrow amid German pilots’ strike September 1, 2022 Lufthansa will axe 800 flights on Friday after German pilots announced a 24-hour walkout. The measure is likely to leave 130,000 passengers stranded, impacting Lufthansa’s services from Frankfurt and Munich on Thursday too. The airline said it was doing everything it could to minimise the strike’s impact. The German pilots’ union, the Vereinigung Cockpit (VC), [...]
Khan pumps fresh cash into London creatives as energy bills spiral September 1, 2022 The Mayor of London Sadiq Khan has pledged £1.2m to help creative workspaces in London to become greener and more energy efficient.
Bitcoin flat, but will September bring improved fortunes? September 1, 2022 The price of Bitcoin has fallen below $19,900 this morning - a drop of 1.62 per cent since this time yesterday.
It is the death of sustainability as merciless cost of living mayhem pushes UK firms into survival mode September 1, 2022 With the cost of living crisis predicted to continue for the foreseeable, nearly 8 in ten Brits are now worried about how the ongoing mayhem is going to negatively impact the environment. In fact, a third of all British business owners have dropped sustainability as a priority with just less than one in five still [...]
Zahawi: Nobody should have energy cut off this winter if they can’t pay their bills September 1, 2022 Nadhim Zahawi has said nobody should be cut off in the winter if they’re unable to pay their bills. Speaking on Sky News this morning during his tour to the United States, the chancellor accused Russia’s President Vladimir Putin of using energy “as a weapon”. This comes ahead of the conclusion of the Conservative leadership [...]
UK house price growth slows to 10 per cent as energy crisis batters Brits September 1, 2022 Annual UK house price growth slowed to 10 per cent in August, from 11 per cent in July.