Easyjet to post loss for third consecutive year despite strong summer October 13, 2022 Easyjet is expected to post a loss for the third consecutive year, despite increasing earnings over the busy summer quarter. The low-cost carrier said that, for the year ended 30 September, losses are expected to be in the £170m-£190m range as a result of travel disruption experienced over the last few months. In a trading [...]
Suppliers fear revenue cap could deter investment and risk supply security October 12, 2022 The Government's decision to cap revenues from renewables generators risks deterring investment into the UK warned energy energy firms.
Bank of England warns of ‘severe risks’ to market stability and financial crisis debt levels October 12, 2022 The Bank of England’s emergency £65bn bond buying scheme – that its chief Andrew Bailey last night confirmed will end on Friday – has been fighting “severe risks” to UK financial stability, the central bank said today. Turmoil in UK gilt markets since the government’s mini budget threatened to trigger “an excessive and sudden tightening [...]
Rees-Mogg: Bank’s tame rate hike could have sparked pension crisis October 12, 2022 Jacob Rees-Mogg looked to shift the blame of the pensions crisis onto the Bank of England this morning as he claimed it could have been sparked by Threadneedle Street’s failure to hike interest rates more aggressively.
Exclusive: Ex Tory chair Baroness Warsi says PM Liz Truss should call a General Election October 12, 2022 A former chair of the Conservative Party has said Prime Minister Liz Truss should call a General Election. Speaking exclusively to City A.M., Baroness Sayeeda Warsi said prime minister Liz Truss either “had to just carry on with the 2019 manifesto – or go to the electorate” upon entering Number 10. “Because neither of those [...]
Sofa seller ScS: Shoppers may splurge on home makeovers instead of moving amid high mortgage rates October 11, 2022 Sofa seller ScS has suggested that some consumers may invest in home makeovers instead of opting to move house amid historically high mortgage rates. The furniture firm posted record sales growth on Tuesday morning but warned of “subdued” trading in recent weeks against a backdrop of household bills increasing. Revenue rose 8.6 per cent from [...]
UK headed for stagnation on worst inflation crisis in G7, IMF warns October 11, 2022 A historic hit to Brits’ living standards from roaring inflation and rising interest rates has thrown the UK economy on course to stagnation, the world’s lender of last resort warned today. The UK economy will grow a better than expected 3.6 per cent this year, according to the International Monetary Fund’s (IMF) latest World Economic [...]
Bitcoin and Ethereum lose gains after strong jobs numbers in US October 11, 2022 Bitcoin is changing hands for $19,081 this morning - down by more than four per cent over the last seven days.
Pret A Manger invests £10m in staff pay bringing salaries above inflation October 11, 2022 Pret A Manger will invest £10m to support its staff with the cost of living crisis, bringing pay above inflation. The outlet will give its workers a salary boost from 1 December to the tune of five per cent. This comes after the coffee chain invested £9.2m in April this year, with 6,500 of its [...]
UK unemployment falls to 50 year-low amid jobs market exodus October 11, 2022 A sharp rise in the number of Brits dropping out of the jobs market altogether has artificially pushed the UK unemployment rate down to its lowest level since the mid 1970s, official figures published today reveal. The volume of people in the UK not looking for work climbed around 330,000 over the last three months, [...]