UK businesses turn to temp staff amid recession worries May 10, 2023 UK businesses are turning to part-time staff to avoid locking into long-term contracts for fear of being dragged down by the economic slump, a new survey out today shows. Demand for temporary staff is running much higher than for full-time workers, according to consultancy KPMG and the Recruitment and Employment Confederation (REC). The pair’s permanent [...]
Enough windfall taxes: We need oil and gas to go green May 10, 2023 The UK will need oil and gas for decades to come - despite renewables' progress- making calls for toughened windfall tax dubious.
Bitcoin sets new daily transaction record amid Ordinals trend as crypto miners face potential energy tax May 9, 2023 Data from CryptoCompare shows the price of Bitcoin (BTC) started the week moving from around $27,500 to a $29,500 high.
US regional banks slip again as PacWest leads peers lower following Fed’s lending survey May 9, 2023 US regional banks continued their slide on Tuesday with Western Alliance dragging down a number of its peers the day after the Fed’s latest lending survey. LA-based lender PacWest was trading nearly seven per cent lower while Western Alliance was nearly five per cent lower. Fellow struggling regional lender Comerica was 3.6 per cent down. [...]
Thames Water boss to forgo bonuses as dividend scrutiny on suppliers intensifies May 9, 2023 The boss of Thames Water will forgo performance related pay this year, with the supplier's turnaround plans still behind schedule.
As the middle classes rush to degree apprenticeships, poorer British kids miss out May 9, 2023 Degree apprenticeships create a rare species of child - an economically independent 21-year-old, but as middle class parents discover this, they become harder to access for poor British kids, writes Eliza Filby.
Bank of England to hike interest rates for 12th time in a row and forecast falling inflation May 9, 2023 The Bank of England is poised to intensify the strain on households and businesses’ finances by hiking interest rates for the 12th time in a row this Thursday in a bid to bring down inflation, City analysts are betting. Threadneedle Street’s nine-member Monetary Policy Committee (MPC), the group tasked with setting official borrowing costs in [...]
Booming services sector steers UK economy further away from recession May 9, 2023 Britain’s economy is running at its strongest level in nearly a year, powered by households still splashing the cash amid the cost of living crisis in another sign the country will skirt a recession. A new survey out last night from consultancy BDO revealed output growth in the UK reached its highest level in eight [...]
UK to officially avoid recession in first half of this year as Bank of England readies twelfth straight interest rate rise May 8, 2023 Britain is set to have officially avoided a recession in the first half of this year in a sharp turnaround in fortunes for the country’s economy, figures out this week are expected to reveal. Gross domestic product (GDP), which measures the amount of goods and services produced in the UK, is anticipated to have risen [...]
AI doing the work of over 200 people at Octopus, chief executive says May 8, 2023 Octopus Energy customers are more satisfied with AI bots answering their emails than humans, the energy provider’s chief executive revealed on Monday. Writing in the Times newspaper, the energy company’s chief executive, Greg Jackson, said the technology was doing the work of 250 people by answering customer emails and had received a 80 per cent [...]