Ageing population and weaker post-Brexit migration has damaged UK economy, experts claim December 5, 2022 An ageing population, weaker migration inflows since Brexit and a sicker society due to the pandemic has damaged the UK long-term economy’s health, top City economists have warned. A steadily rising elderly population has resulted in a jump in Brits leaving the jobs market to take retirement or due to ill health, putting the workforce [...]
Exclusive: Ofgem is ‘overcompensating’ for its failures, warns energy boss December 5, 2022 Ofgem's flurry of reforms to the energy sector could stop new ideas from entering the market warned the boss of Good Energy.
Allica Bank bags £100m cash injection after swing into profit December 5, 2022 Digital lender Allica said it had bagged a £100m cash injection today as it looks to guzzle up more of the UK’s small business banking market.
Amazon getting ‘free ride’ from UK retailers, Currys boss claims December 5, 2022 Amazon is getting a “free ride” from UK retailers by using the country’s infrastructure while swerving taxes, the head of high street electronics retailer Currys said yesterday. Alex Baldock told the BBC’s Sunday with Laura Kuenssberg show Amazon “appear[s] to play by different rules than those of us who actually pay some tax”. The online [...]
UK businesses fear supply chain chaos will ruin Christmas trading December 5, 2022 UK businesses are anxious that supply chain chaos and soaring costs that have punctuated this year will scupper the lucrative Christmas trading period, a new survey out late last night revealed. Nearly half of British firms are concerned about the rising cost of sourcing materials to produce products, making it the most common problem businesses [...]
Tax Tribunal backlog soars following HMRC crackdown on fraudulent umbrella companies December 4, 2022 The backlog of cases waiting to be heard in the UK’s tax tribunal has surged following an HMRC crackdown on fraudulent “umbrella companies”. The number of cases waiting to be heard in the First-Tier Tax Tribunal has increased 84 per cent over the previous year to heights of 46,000, according to UK government figures. The [...]
FTX collapse shows need for venture capital ‘correction’, says investment chief December 4, 2022 The collapse of FTX has underscored a “distortion” in the venture capital market and the need for a correction across the industry, the boss of a global investment body has said.
Week ahead: Inflation expectations numbers top City’s agenda December 4, 2022 Investors this week will be eyeing fresh data revealing how long households think high inflation will stick around in the UK for clues on the size of the Bank of England’s next interest rate rise. Last week, London’s premier FTSE 100 index climbed nearly one per cent to 7,556.23 points, while the domestically-focused mid-cap FTSE [...]
Ofwat to focus on credit ratings as it defends lack of debt limits for water suppliers December 2, 2022 Boosting the financial resiliency of each water supplier is more important than taming overall sector debt, argued Ofwat.
Utilita boss fears Big Six advantage as he slams Ofgem reforms December 2, 2022 Ofgem risks stifling innovation and preventing energy firms from finding a pathway to profit, warned the boss of Utilita Energy.