Anglo Asian Mining profits drop as it begins business revamp May 17, 2022 Profits at gold and copper producer Anglo Asian Mining have plummeted as the miner looks to expand its business across Azerbaijan.
Fewer unemployed people than job vacancies: Jobless rate lowest since 1974 with 121,000 more Brits on payrolls May 17, 2022 The number of UK workers on payrolls rose by 121,000 between March and April to 29.5m, the Office for National Statistics said this morning. It means Britain’s jobless rate has fallen to its lowest level for over 47 years but workers have seen their pay fall further behind rocketing inflation, according to official figures. The [...]
J2O maker Britvic ups dividend and vows to buy back £75m worth of shares as pre-tax profits soar May 17, 2022 Soft drinks conglomerate Britvic today announced plans to launch a £75m share buyback scheme and upped its dividend by 20 per cent, after posting “strong” results for the six months running up to 31 March 2022. The Tango and J2O maker said its pre-tax profits increased 48.7 per cent to £45.8m, after its revenues jumped [...]
Vodafone shakes off merger talks and pushes forward with German growth May 17, 2022 Vodafone confirmed its strategic performance in Germany and maximising shareholder returns through growth this morning as the firm pushes forward with market consolidation ambitions.
Tesco to increase payments to pig farmers by £6.6m amid ‘unprecedented costs’ May 16, 2022 Supermarket giant Tesco has announced it will increase payments to pig farmers by £6.6m, as the industry faces price hikes for wheat and soya. Total support for Tesco farmers will stand at £10m since March, as the farming sector faces staggering commodity price inflation. Feed prices have shot up since Russia’s invasion of Ukraine earlier [...]
London indexes muted ahead of week of jolting data May 16, 2022 London’s top indexes were muted today as investors eyed a week of flagship economic announcements. The capital’s premier FTSE 100 index climbed 0.63 per cent higher to 7,464.80 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, inched up 0.01 per cent to 19,924.11 points. [...]
Governor Bailey: Nothing different BoE could have done to prevent double-digit inflation May 16, 2022 Bank of England chief Andrew Bailey today defended his performance in overseeing “the biggest test” in the monetary authority’s 25 years of independence. Bailey, 63, said there was nothing else the Bank could have done to prevent inflation surging to more than five times its two per cent target in response to a grilling by [...]
Exclusive: UK business loans written off by banks almost double to £356m as insolvencies quadruple May 16, 2022 The value of UK business loans written off by banks nearly doubled in the last quarter of 2021, rising 87% from £190m in the third quarter to £356m in the fourth quarter. Debt advisors told City A.M. this afternoon that write offs of loans have been subdued throughout the Covid crisis but are now rising [...]
Enough is enough: Employers are running out of steam on ability to hike pay or make well-paid job offers May 16, 2022 Close to half of UK employers report having vacancies that are hard-to-fill, and almost two thirds anticipate problems filling vacancies in the next six months. The most common response made in the past six months by employers with hard-to-fill vacancies has been to increase pay, according to new research from CIPD, the professional body for [...]
Diesel prices climb to record levels as cost-of-living crisis escalates May 16, 2022 Diesel prices have soared to record levels, piling pressure on motorists amid spiralling inflation and a deepening cost of living crisis.