Soaring energy prices could see manufacturing firms call for NI hike cancellation March 7, 2022 Soaring energy prices could prompt companies within the manufacturing sector to urge for the cancellation of the national insurance (NI) hike which is due next month. Businesses may also start to call on the government to haul in energy subsidies, as inflation and raw material costs continue to spiral – which could present a dilemma [...]
Spectris abandons Oxford Instrument takeover bid amid Ukraine conflict volatilty March 7, 2022 UK precision equipment manufacturer Spectris announced it had abandoned its takeover bid for microscope-maker Oxford Instruments today, citing the market volatility sparked by Russia’s invasion of Ukraine.
Missguided mulls HQ job losses after rescue deal March 7, 2022 Fast fashion retailer Missguided has made a move to slash “a number of roles” at its head office in Manchester. The beleaguered firm had secured a rescue deal at the end of last year, with Alteri Investors snapping up a 50 per cent stake in the firm and acquiring its debt. Missguided then began a [...]
Ukraine crisis highlights Europe’s dependency on Russian gas March 7, 2022 Russia is currently facing the ire of the world following its illegal invasion of Ukraine, which is bringing misery to millions. It is also the second largest producer of natural gas in the world. It serves European consumers of energy through a number of pipelines. Proximity and the ease of transport means supplies from the [...]
Soaring oil prices create panic among most UK drivers March 7, 2022 Soaring oil prices continue to create panic among UK drivers, as growing numbers continue to be concerned about filling up their tanks. As a result of the ongoing Ukrainian conflict and consequences on oil prices as well as because of soaring inflation, UK petrol prices have risen last week to £1.55 per litre for diesel [...]
Cadent Gas workers to strike following pay increase rejection March 7, 2022 Workers at British energy provider Cadent Gas are expected to vote in favour of industrial action after they rejected a 4 per cent pay rise. The union GMB said its members had turned down the pay increase because it’s below the current inflation rates of 7.8 per cent. “Like everyone up and down the country, [...]
FCA looks to make fair loans more accessible amid cost of living squeeze March 7, 2022 The Financial Conduct Authority is looking to incentivise firms to offer vulnerable borrowers fairer loans following the slow demise of payday loans. The UK’s high-interest loan market has shrunk considerably in the past few years, with the market exit from Provident Financial and troubled Amigo which has been batting off insolvency. The watchdog, which [...]
Fuel be sorry: Record petrol prices could hurt retail sector warn experts March 7, 2022 Experts suggest record prices at the pumps could hurt the retail sector and potentially stall the UK's ecommerce boom.
UK jobs market surges to pre-pandemic health but inflation crunch looms March 7, 2022 The recession of Covid-19 restrictions has sparked a recruitment drive by British businesses, reveals a fresh survey released today. An uptick in spending as Brits head back to high streets after the end of Plan B measures is encouraging firms to take on more staff, according to research by accountancy firm BDO. Businesses are scrambling [...]
Sunak under pressure to drop NI rise in wake of Ukraine invasion March 6, 2022 Rishi Sunak is under increased pressure to drop his 1.25 percentage points increase of National Insurance next month in the wake of Russia’s invasion of Ukraine. It is expected the war will lead to higher inflation than expected due to Europe’s large reliance on Russian gas and Ukrainian agricultural products, like wheat. Annual growth in [...]