Searches for overseas jobs by Brits surge with Dubai most popular destination August 1, 2022 Searches for work abroad have surged among UK workers with Dubai the most sought-after destination. Over the last 12 months, searches for overseas work by British workers soared by 56 per cent, according to data by overseas job website Anywork Anywhere, which analysed Google search data over the past year. Dubai was the most popular [...]
Unite renews threat to pull funding from Labour over Starmer stance on strikes August 1, 2022 Labour’s largest union backer Unite has again threatened to withdraw its funding from the party as it rails against Sir Keir Starmer’s stance on strikes. Unite general secretary Sharon Graham accused Starmer of “sticking two fingers up” to striking British workers and added that it was becoming “harder and harder to defend” paying the party [...]
Exclusive: UK small businesses on high recession alert August 1, 2022 British sole traders and small businesses are battening down the hatches in preparation for a looming recession, exclusive research shared with City A.M. reveals. Over three quarters of small firms are fretting over the UK economy steering into reverse, according to fintech firm iwoca. Firms are scrambling to boost their cash reserves to help weather [...]
Brits struggle to cut back as inflation eats into budgets August 1, 2022 Brits are struggling to find any more areas of spending to cut back on to keep their finances above water, a new survey published today reveals. Over one in 10 households will have nothing else to slash from their budgets when the October energy price cap hike lands, according to a survey by Legal and [...]
Sky-high inflation slows UK private sector economy to ‘standstill’ August 1, 2022 Consumers reacting to scaling prices by cutting spending is expected to grind the UK economy to a halt, new surveys published today revealed. Private sector firms think they will squeeze out zero growth over the next three months, according to the Confederation of British Industry (CBI), the country’s largest business lobby group. Businesses are beginning [...]
Exclusive: EV charging firm Pod Point expects supply chain issues to die down soon August 1, 2022 The supply chain issues that have plagued the automotive industry over the last year will die down within the next 12 to 18 months, said Erik Fairbairn, chief executive of electric vehicle charging provider Pod Point. “I really think that supply chain issues could last [between] 12 and 18 months but they are short-term in [...]
Water sector debt risks market crisis warns watchdog July 31, 2022 Water utilities loaded with debt are at a growing risk of collapse as interest rates rise, argued David Black, chief executive of Ofwat.
Week ahead: City braces for biggest Bank rate hike since independence July 31, 2022 The City will this week be bracing for what could be the steepest interest rate rise since February 1995. London’s premier FTSE 100 index posted a strong performance last week, climbing just over two per cent to 7,423.43 points. The mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK [...]
Eurozone inflation surges to fresh record high dialling up pressure on ECB July 29, 2022 Prices are rising are the fastest pace on record in the eurozone, figures published today revealed. Inflation surged to 8.9 per cent, up from 8.6 per cent in June, the highest rate since the creation of the euro in 1999. The fresh figures dial up pressure on the European Central Bank (ECB) to hoist interest [...]
French asset manager Amundi takes hit from turbulent European markets July 29, 2022 French asset manager Amundi today said the value of the assets it manages has dropped by 4.75 per cent compared to three months ago, due to “unfavourable” market conditions. The Paris headquartered firm said net incomes for the first half of the year were 16 per cent lower than a year ago, as it said [...]