Brits brace for multi-pronged living standards crunch as inflation hits new 30-year high February 16, 2022 Brits will be hit by a multi-pronged squeeze on their living standards this year, economists are warning after new figures published today revealed inflation has climbed to a fresh 30-year high. A combination of accelerating price rises, tax hikes and higher interest rates will erode Brits’ finances at the worst rate since the late 1940s, [...]
Barrick Gold unveils $1bn share buyback scheme amid rising copper production February 16, 2022 Barrick Gold has announced a $1bn share repurchase scheme, alongside a six per cent rise in its fourth quarter profits.
The race to replace the ISS: ‘A full-scale industrial revolution and we’re at the very start of it’ February 16, 2022 The race for a commercial space station is officially a-go, with businesses poised for a new privately funded post to orbit Earth by the end of the decade. Nanoracks, Voyager Space and Lockheed Martin are collaborating to develop a free flying commercial space station known as Starlab. While London’s Space Entertainment Enterprise (SEE) has teamed [...]
Housebuilders facing extra £3.2bn in construction costs this year as prices spiral February 16, 2022 UK housebuilders could face paying the hefty extra sum of £3.2bn per year as new-build construction costs are set to skyrocket. The average cost of construction for a new-build property is set to rise almost £18,000 per unit, research from property debt adviser Sirius Property Finance has revealed. Construction costs across the industry could total [...]
British factories hike prices rapidly to protect margins February 16, 2022 British factories are hiking prices for goods rapidly in a bid to offset swelling raw material costs, reveals official figures released today. Prices charged by manufacturers accelerated 9.9 per cent in the year to January, up from 9.3 per cent in December, according to the Office for National Statistics (ONS). Soaring oil prices driven by [...]
Starmer says entitled to ask for pay rise in rebuke of Bank of England February 16, 2022 Workers have every right to ask for a pay rise amid the UK’s surging inflation rate and cost of living crunch, Labour leader Sir Keir Starmer has said. In a direct rebuke of comments made by Bank of England governor Andrew Bailey, the Labour leader said “it’s very difficult to universally say” to workers that [...]
Bank of England to look through weaker growth and send rates to financial crisis levels February 16, 2022 The Bank of England will look through weaker than expected economic growth this year and send interest rates to levels not seen since the financial crisis, experts are betting. Zeroing in on eradicating rampant inflation in the UK at the expense of providing a floor for the economy will drive the Bank to launch the [...]
Heineken warns drinkers could cut back on beer as it prepares to hike prices February 16, 2022 Heineken has warned today that drinkers could cut back on beer as it prepares to hike its prices to offset soaring costs.
Soaring costs expected to drive people to putting homes on Airbnb February 16, 2022 Holiday rental platform Airbnb has said it anticipates bookings to hit pre-pandemic levels for the first time in the current quarter as Covid fears ease. The number of nights booked in cities in the last three months of 2021 neared 2019 levels, it said in results. The pressure of rising costs would influence individuals to [...]
Inflation nears 30-year high as consumer price index climbs to 5.5 per cent February 16, 2022 UK inflation has remained at a near 30-year high after rising further in January as Britain remains in the grip of a tightening cost-of-living squeeze, according to official figures. The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation reached 5.5 per cent in January, up from 5.4 per cent in December and [...]