IFS: No room for tax cuts or spending rises at March budget despite Jeremy Hunt pocketing £60bn windfall February 28, 2023 There is no room for tax cuts or spending increases at the 15 March budget despite Jeremy Hunt being handed an around £60bn windfall from lower energy prices and interest rates, a top economic think tank has forecast today. The Chancellor will be held back from handing households and businesses a tax giveaway due to [...]
To dream up what can be done with the empty Debenhams, look at Hounslow February 28, 2023 Nine out of ten of the former Debenhams shops are still empty. Projects like The Loft in Hounslow show what could be achieved if these precious spaces were to be repurposed, writes Elena Siniscalco
Should we welcome the prospect of the ‘Britcoin’ CBDC? February 27, 2023 Temple Melville believes a 'Britcoin' CBDC has potential as an opportunity for alternative monetary policy and stimulation in the future.
Primark owner Associated British Foods ‘dodging most economic bullets’ as outlook improves February 27, 2023 Primark owner Associated British Foods has upped its outlook for the full year after reporting a jump in sales at the budget fashion chain as consumer spending held up better than expected. The group said sales at the retailer, which has 419 stores, are set to rise by 16 per cent at actual exchange rates [...]
Bunzl snaps up German and Canadian firms as profits jump to £634m February 27, 2023 Outsourcing specialist Bunzl revealed it had snapped up two businesses in Germany and Canada today as it reported a jump in pre-tax profits for the full year. The London-listed firm said this morning it had acquired acquire Arbeitsschutz-Express, a German online workwear and PPE seller in Germany, as well as Capital Paper, a distributor of [...]
London to power UK economy away from recession and clinch best growth across the country February 27, 2023 London will power the UK economy out of recession and is poised to be the fastest growing area in the country over the coming years, new forecasts out today reveal. The capital’s economy is on track to expand 2.6 per cent each year between 2024 and 2026, pushing it to the top of the countrywide [...]
Recession fears chill UK investment as CBI urges Jeremy Hunt to rethink tax grab at March budget February 27, 2023 British businesses are poised to mothball investment due to uncertainty over whether the country is on course to tip into a recession and a looming tax grab, a new survey out today indicates. Fears of a slowdown in spending caused by families’ finances being squeezed by the cost of living crisis has knocked optimism among [...]
Collecting ethnicity data for the pandemic taught City diversity chiefs hard lessons February 27, 2023 During the pandemic, Covid-19 was believed to have higher mortality rates for people from ethnic minorities, but a lack of accurate data meant we couldn't fully understand how deep the problem went. We face the same problems in the corporate work, writes Sophie White.
Week ahead: Bank of England speak to dominate agenda as investors look for clues on interest rate path February 26, 2023 Investors will be parsing over a string of speeches from top Bank of England rate setters this week for clues on whether the central bank is close to ending its aggressive campaign to tame inflation. Ben Broadbent, a deputy governor at the Bank, kicks off a busy week of central banker speech at Threadneedle Street’s [...]
Warren Buffett turns record profit – despite lashings of global headwinds February 25, 2023 Warren Buffett’s Berkshire Hathaway Inc on Saturday reported its highest-ever annual operating profit, even as foreign currency losses and lower gains from investments caused fourth-quarter profit to fall. Buffett called 2022 a “good year” for Berkshire in his annual shareholder letter after the conglomerate’s dozens of businesses generated $30.8 billion of profit despite rising inflation and [...]