Week ahead: City braces for another Bank of England rate hike January 30, 2022 All eyes will be on Threadneedle Street this week as the City braces for another rate hike from the Bank of England. The Old Lady is widely expected to lift borrowing costs again on Thursday, marking the first time the central bank has hiked rates at successive meetings since 2004. The Bank lifted rates for [...]
Cake Box shares recovering after plummeting when blogger found accounts errors January 25, 2022 Sweet-treat maker Cake Box lost almost a fifth of its market value after errors in its annual report were spotted by a blogger. In a post over the weekend, blogger Maynard Paton identified mistakes in the company’s 2021 annual report. Its share price slipped 18 per cent, to 267p yesterday. However, on Tuesday morning its [...]
‘Britain is back in business’: Covid-19 tests for vaccinated travellers scrapped January 24, 2022 Fully vaccinated travellers flying into England will no longer require Covid-19 tests, Boris Johnson has confirmed. The government had been due to review the pandemic travel rules, amid calls from the aviation industry to cut curbs. Chief executives at Ryanair, Easyjet, British Airways, Virgin Atlantic and Jet2 have sought assurance from government today that it [...]
Brits scrambling for early Christmas presents boosts credit lending to 16-month high January 4, 2022 Brits scrambling to get their hands on Christmas presents early to avoid shortages boosted credit card spending to a 16-month high, reveal official figures released today. Households in the UK took on £1.2bn in net consumer debt in November, the highest level in nearly a year and a half, according to the Bank of England. [...]
Savile Row tailor placed into liquidation as quest for buyer fails January 4, 2022 The parent company behind London’s iconic men’s tailor Gieves & Hawkes has been put into liquidation after failed attempts to woo potential buyers. FTI Consulting and R&H Services have been appointed as joint liquidators for the 250-year-old brand, alongside its sister brands Kent & Curwen and Cerutti, according to The Times newspaper. The newspaper reported [...]
London hotels hope for a cracker Christmas as Covid recovery lags behind rest of country November 25, 2021 London hotels are still lagging behind in their Covid recovery compared to rivals elsewhere – but have reported strong festive bookings. The capital’s occupancy rates were 26 per cent behind pre-pandemic levels last month, as the sector continues to suffer from the slow return of international tourists and business travellers. Hotels are also facing a [...]
City bets on Bank of England rate hike ramp up again after strong jobs figures November 16, 2021 City bets on the Bank of England hiking interest rates soon are ramping up once again after fresh jobless data showed the worst effects of the end of the furlough scheme have been largely avoided. The Old Lady will turn the dial at its next meeting in December due to the labour market looking less [...]
Not going out: sales down 4.5 per cent for pubs, bars and restaurants November 15, 2021 The hospitality sector is struggling to bounce back from Covid-19 as Brits take a cautious attitude to spending post-lockdown. Rolling sales for managed pubs, bars and restaurants are down 4.5 per cent over the past 12 months as the sector continues to be hit hard by supply chain pressures, high energy prices and recruitment issues. [...]
Bank of England leaves rates at record low despite expecting persistent inflation spike November 4, 2021 The Bank of England today decided to scupper a flurry of bets on interest rate hikes and leave them unchanged at a record low. Despite mounting speculation from financial markets, economists and experts, the Old Lady left interest rates at 0.1 per cent and will see through the final leg of its QE programme. The [...]
Inflation ‘pauses for breath’ in September before racing ahead soon October 20, 2021 Inflation “paused for breath” in September before it races ahead at a fiery pace in the coming months. Prices were 3.1 per cent higher than they were a year ago last month, according to the Office for National Statistics (ONS). The rate of inflation edged back slightly from August’s 3.2 per cent clip and was [...]