UK inflation hits 9 per cent: 40-year high as country wrestles cost of living crisis May 18, 2022 UK inflation has hit 9 per cent, a 40-year high, as the country wrestles with a cost-of-living crisis. Top economists have pegged inflationary headwinds to hit double figures by the end of the year, as food, energy and other household services and goods spiral in cost. Food products and metals have seen the largest leaps [...]
Starmer calls windfall tax ‘inevitable’ as Tories show signs of wobbling over the levy May 18, 2022 Internal government polling has found support for a windfall tax on the profits of energy firms is “wildly” popular..
All Bar One and O’Neills owner struggles to drive sales as inflation bites May 18, 2022 All Bar One and O'Neills owner Mitchells & Butlers feels the sting of inflation, with like-for-like sales growth of one per cent over the first half of the year compared to 2019 figures.
Burberry posts revenue success but says future depends on Chinese Covid recovery May 18, 2022 Burberry reported a 23 per cent rise in revenue to £2.83bn, but said the ongoing outlook for the luxury brand depended on Chinese recovery. Despite group adjusted operating profit up to £523m, the comparable store sales in Asia Pacific were down seven per cent in the final quarter in the final quarter as lockdown batters [...]
Liz Truss plays down calls for windfall tax May 18, 2022 Foreign secretary Liz Truss has played down calls for a windfall tax on energy firms, saying “we need to attract investment”, and a tax would be a deterrent. Speaking on Sky News this morning, she appeared to be at odds with calls made by the Chancellor Rishi Sunak yesterday, who said nothing was off the [...]
Experian posts ‘very good year’ with revenue and profits booming for credit reporting firm May 18, 2022 Credit reporting firm Experian reported a strong full year this morning with revenue up 17 per cent at $6.3bn.
Billions of pounds of taxpayer cash will be lost due to covid support scramble, MPs warn May 18, 2022 Billions of pounds of taxpayers’ money will be “lost to fraud and error” in the government’s scramble to dish out cash via covid business support schemes, the public accounts committee has warned today.
Early-stage venture capital stays resilient as headwinds batter public tech stocks May 18, 2022 Early-stage venture capital firms are doubling down on investments in 2022 despite a sell-off frenzy in public tech stocks and growing scepticism of growth-focused tech valuations.
Andrew Bailey is putting the Bank’s independence at risk if he wavers on inflation May 18, 2022 Andrew Bailey’s ability to steer monetary policy through the inflation crisis will determine the Bank’s future strength
Investors look through inflation headwinds to focus on strong earnings May 17, 2022 Investors dismissed concerns over inflationary pressures firming in the UK economy and focused on a string of positive company earnings, lifting London’s indexes today. The capital’s premier FTSE 100 index climbed 0.72 per cent to 7,518.35 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]