Retail jobs slashed as high costs lead to automation and outsourcing December 17, 2024 The number of jobs offered by the UK’s largest private sector employer – retail – has dropped again, as companies shift to outsourcing and automation in an effort to deal with higher costs. This trend has been ongoing for some time, and is responsible for both job loss and a lack of job creation as [...]
Bunzl: Shares in FTSE 100 giant tumble after issuing warning December 17, 2024 Shares in outsourcing giant Bunzl tumbled early on Tuesday after it warned “more persistent” than expected deflation would weigh on profit in 2024. The impact is likely to be felt most by its Continental Europe division, however Bunzl still anticipates a “strong increase” in group full-year adjusted operating profit when compared with 2023. Shares fell [...]
Chemring shares plunge despite record orders December 17, 2024 Chemring shares plunged on Tuesday as production and foreign exchange headwinds dented investor confidence despite booming orders. The FTSE 250 British defence contractor’s order book reached a record £1.04bn in 2024, meaning more than two-thirds of next year’s revenue forecast is already covered. Such soaring demand saw Chemring double down on a target of reaching [...]
UK wages continue to surge as Bank of England set to decide on interest rates December 17, 2024 UK unemployment remained steady over the last three months as wage growth surged over the quarter to October. Unemployment was unchanged at 4.3 per cent for the second straight month during October, data from the Office for National Statistics revealed. The number of people claiming jobless benefits climbed by just 300 in November, beating the [...]
Recent Conservative governments have been more left wing than Attlee December 17, 2024 Here’s a Christmas quiz: Which has been Britain’s most left-wing government? According to Paul Ormerod, it’s not the one you think…. The extended Christmas holidays loom. One way of filling the time is to think about crucial questions such as who is England’s greatest ever batsman, which football club side is the best the world [...]
Water firms to be forced to increase customer compensation for failures December 17, 2024 The changes come after a series of outages earlier in May left tens of thousands of homes in Brixham without clean drinking water.
Reeves’ pension review pause could be ‘hugely detrimental’ December 16, 2024 Experts have slammed the chancellor’s decision to pause a review into pensions, saying failure to act could “leave millions of people at greater risk of an income shortfall”. Rachel Reeves has reportedly shelved plans to reform pension adequacy in a bid to avoid piling more pressure on business. The Financial Times first reported that it [...]
UK companies cut jobs at fastest rate in nearly 4 years December 16, 2024 The private sector cut jobs at the fastest rate for nearly 4 years in December as firms respond to new tax rules announced in the Budget. The latest S&P Global Flash UK Purchasing Managers’ Index (PMI) found that while the headline figure for business confidence was unchanged from November, thanks to a marginal increase in [...]
Walkers: Sales jump at Doritos, Monster Munch and Quavers owner December 16, 2024 Sales at the owner of the UK’s favourite crisps brands, Walkers, jumped by more than £60m during its latest financial year, it has been revealed. The Pepsi-owned business, which splits its UK accounts across three firms, has only just revealed its results for 2023, long after the 30 September deadline set by Companies House. Manufacturing [...]
Bank of England set to hold interest rates after inflation jump December 16, 2024 The Bank of England is poised to leave interest rates on hold this week after inflation rose more than expected.