Employers still bumping pay despite labour squeeze cooling January 13, 2022 Employers in London and across the UK are still having to offer attractive pay packets to lure workers despite the labour squeeze easing, reveal fresh figures released today. The rate of decrease in the pool of available candidates slowed at the tail end of last year, boosting labour supply, according to research carried out by [...]
IFS: Poorest Brits to shoulder worst cost of living shock January 12, 2022 The poorest households in the UK are set to shoulder a harder hit from the cost of living crisis, reveals new analysis released yesterday. The rising cost of energy will erode a greater proportion of poorer households’ income compared to wealthier Brits, according to the Institute for Fiscal Studies (IFS). Less wealthy Brits tend to [...]
Red hot inflation to burn £20bn hole in UK public coffers January 12, 2022 Red hot inflation sweeping throughout the UK is set to burn a £20bn hole in the country’s public finances, one of the City’s leading economists warned today. Britain’s intensifying cost of living crisis will erode Chancellor Rishi Sunak’s room for tax giveaways in the run up to the next election. A swelling interest bill triggered [...]
Near-four decade high US inflation print piles pressure on Federal Reserve to act January 12, 2022 Inflation in the US is roaring at the fastest rate since 1982, piling pressure on the Federal Reserve to act now to tame the soaring cost of living across the pond. Prices are seven per cent higher than they were a year ago in December, according to official statistics published by the US Bureau of [...]
Unlikely victim: Energy crisis pushes tissue maker Accrol into strategic review January 12, 2022 Tissue maker Accrol is to undergo a strategic review after a ‘significant’ jump in energy costs, making it an unlikely victim of the UK’s energy crisis. The group has also been battling rising inflation, which has hiked the price of pulp and made its supply chains more costly. The news pushed investors to pull out [...]
Crypto markets recover after fresh US Central Bank comments January 12, 2022 Bitcoin is currently changing hands for just below $43k, up around 2.5 per cent since yesterday morning.
US economy ‘no longer needs’ stimulus, declares US Fed chief January 12, 2022 The US economy “no longer needs or wants” ultra-stimulative monetary policy, the chief of the Federal Reserve said yesterday. Jerome Powell told US lawmakers, who were grilling him before deciding on whether to back him to stay in charge of the world’s most influential central bank, that the American economy is strong enough to absorb [...]
TfL targets one million fines a year, top Met officer says January 12, 2022 Transport for London (TfL) is set to target one million speeding fines a year, as more than 623,000 prosecutions have taken place between 2020 and 2021. According to Simon Ovens, chief superintendent at the Met’s roads and transport policing command, TfL has “a clear position to get to a target of one million prosecutions a [...]
UK households face biggest decline in available cash for eight years January 12, 2022 UK households are feeling the pinch as energy bills soar, the cost of living rises and Covid-19 restrictions continue to impact business.
Topps Tiles lays foundations for ‘sustainable growth’ as sales up 21 per cent in Christmas rush January 12, 2022 Topps Tiles announced a confident outlook in this morning’s trading update for the 13-week period ended 1 January, with like-for-like sales on a two-year basis up 21 per cent.