UK grocery price inflation hits highest level since 2008 August 16, 2022 UK grocery price inflation has hit its highest levels since the 2008 financial crash over the past month, according to the latest figures. Brits are now facing an 11.6 per cent price hike on average food-shopping goods, market data from Kantar has revealed today. As spiralling inflation leaves no sector in the UK unscathed, the [...]
Hospitality firms plead for energy bill support to survive ‘dire’ situation worse than pandemic August 16, 2022 A host of hospitality and small business bodies yesterday warned that many pubs, restaurants and hotels will not survive the “onslaught” of higher energy costs in the coming months. Representative bodies including UK Hospitality warned politicians that unlike domestic customers, rates are not capped for small businesses. Last week analysts at forecaster Cornwall Insight suggested [...]
Reebok and Forever 21 owner Authentic Brands snaps up Ted Baker in £211m deal August 16, 2022 After months of speculation, the Juicy Couture and Forever 21 owner Authentic Brands has said it will buy Ted Baker for an estimated £211m.
Lift our economic spirits by keeping duties and tax down on Scotch Whisky August 16, 2022 You will struggle to find another industry that is like the Scotch Whisky industry. One that’s continued to invest in the UK economy despite the lost exports, tourist visits and hospitality income during the pandemic, rising production and shipping costs, and the loss of more than half a billion pounds in revenue because of tariffs [...]
Brits could miss out on £28k in retirement funds as workers opt out of pension schemes to save cash August 16, 2022 Brits could miss out on almost £30,000 in retirement funds after a near 30 per cent spike in workers opting out of pension schemes. With inflation nearing double digits and the UK in recession, new figures released by pension provider Penfold showed those pausing contributions could cost new entrants into the workforce up to £28,000. [...]
Reebok owner closes in on Ted Baker deal August 15, 2022 Ted Baker is on the verge of being taken over by a US consumer goods group which owns Reebok, according to Sky News.
Labour pushes for price cap freeze to tame cost of living crisis August 15, 2022 Labour has waded into the energy crisis with £29bn proposals to ease household energy bills amid a deepening cost of living crisis.
Identifying politicians’ role in inflation surge is better than tweaking BoE mandate August 15, 2022 Understanding how much of the blame politicians should carry for inflation surging far above the Bank of England’s two per cent target would be “a better strategy” than tweaking its mandate, a top City economist said today. In a note, Paul Donovan, chief economist at investment bank UBS, said the UK’s inflation shock has been [...]
Google searches for solar panels rocket more than 300 per cent as cost of living and energy crises hit August 15, 2022 Google searches for solar panels have rocketed by more than 300 per cent this year, with the cost of living and energy crises hitting hard, writes Cat Branagan. More Brits are looking for alternative and cleaner energy sources it has been shown by a new report of Google Trends data. Searches shot 316 per cent [...]
UK sustainable fuel firm urges governments to push businesses to make the switch August 15, 2022 UK sustainable fuel technology firm Velocys has hailed the around US’ $370bn package to reduce fuel emissions currently making its way through Congress – and has urged other governments to follow. Under the Inflation Reduction Act, which is still subject to ratification, the US has set aside billions to support the production and use of [...]