Sucralose inventor Tate & Lyle expects to beat inflationary pressures despite fall in demand for artificial sweetners January 26, 2023 Tate & Lyle has posted a robust third quarter update, propped up by its food and beverage solutions division.
Record profits place TSB on course for £50m dividend but impairment charges rise on recession fears January 26, 2023 TSB Bank proposed a £50m payout to its parent company in the first quarter of 2023 as its yearly pretax profit increased to a record level. Pretax profit in the 2022 financial year rose to £183.5m from £157.5m in 2021, reflecting lending growth, higher interest rates and higher deposit margins. This figure includes the costs [...]
Recession risks ramp up as UK economy goes ‘from bad to worse’ January 26, 2023 The risk of a recession striking the UK is gathering pace experts warned today as still extremely high inflation and collapsing confidence has resulted in the economy going from “bad to worse”. Swelling costs squeezing margins are forcing businesses to cut back production, while higher prices are eroding consumers’ incomes, knocking spending. Those two factors [...]
What windfall? North Sea levy generated £600m less than expected in December January 25, 2023 The new windfall tax on North Sea oil and gas operators failed to generate the expected takings last month, confirmed the OBR.
Millions at risk if household energy support package is cut in April, Utilita warns January 24, 2023 The government should maintain support packages at current levels to ease pressure on households, warned Utilita.
UK economy stumbles behind Euro peers as risk of recession gathers pace January 24, 2023 The UK economy is falling further behind its international rivals and experts, according to a closely watched survey. The survey by economists has revealed Britain’s services industry, which generates about £2 in every £3 in the country, is shrinking at the fastest pace in two years. S&P Global and the Chartered Institute of Procurement and [...]
UK borrowing hits December record of £27.4bn piling pressure on Hunt ahead of March budget January 24, 2023 UK borrowing in December hit its highest total in 30 years driven upwards by the government’s debt interest bill soaring due to raging inflation, official figures out today show. The government took on £27.4bn of debt last month, the largest amount since records began in 1993, according to the Office for National Statistics (ONS). The [...]
The Notebook: Victoria Scholar on Chinese New Year, air fares and edible economics January 24, 2023 The notebook is where interesting people say interesting things. Today it’s Victoria Scholar, Head of Investment at Interactive Investor, on Chinese New Year, why air fares are on the increase and what we can learn about economics from food As the Chinese New Year begins, investors are increasingly turning their attention back to markets in [...]
Ovo Energy backs social tariff for vulnerable households facing record bills January 24, 2023 Ovo Energy has joined calls for a social tariff to help vulnerable households grappling with record energy bills.
A recession will end the era of free money and tip the scales back to the Big Banks January 24, 2023 The fintech industry and its founder has grown up in an era of free money and this is their first taste of a recession, it might give big traditional banks their dominance back, writes Nick Parminter The prevailing narrative in the corporate innovation bull market of the last 12 years was that “you can’t cut [...]