Britain hurtling toward long economic slump and record living standards squeeze September 6, 2022 Britain is sinking into a long economic slump that will deal the biggest hit to household finances on record, a new report released today shows. A historic inflation surge led by sky-high energy bills is set to tip the country into a recession this year, wiping off £2,000 of Brits’ real take home pay, according [...]
London’s FTSE 100 jumps as Liz Truss mulls cost of living support package September 6, 2022 London’s FTSE 100 jumped today driven by investors being reassured by new prime minister Liz Truss preparing to ramp up support for households and businesses this week. The capital’s premier index added 0.18 per cent to reach 7,300.44 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the [...]
Tears for beers: Brits face staggering pub bill of £20 for a single pint September 6, 2022 Pubs and bars across the UK could be forced to close because it is not “viable” for landlords to raise the price of a pint to £15 or £20 to cover their soaring energy bills. Tom Stainer, the chief executive of the Campaign for Real Ale (Camra) group, told the Daily Star the cost of [...]
EU airfares return back in line with pre-pandemic normal September 6, 2022 Airfares in Europe have gone back in line with the pre-pandemic normal, according to data released today. “Pricing in Europe appears to be in line with pre-pandemic rates of 2017-2019, indicating that after a busy summer period the industry has been able to recover to somewhat normal levels,” said Elise Weber, chief executive of airfare [...]
Supermarket shelves could be bare of certain food and drink items during ‘really difficult winter’ September 6, 2022 Supermarket shelves could be left lacking certain food and drink items this winter if smaller companies go bust amid high energy bills, a food industry leader has warned MPs. It will be a “really difficult winter,” Karen Betts, chief executive, Food and Drink Federation (FDF) told MPs at the Business, Energy and Industrial Strategy Committee [...]
Gaucho restaurant boss claims steaks would have to cost £100+ to cover rising energy bills September 6, 2022 The hospitality chief behind the Gaucho steak restaurants has said his venues would have had to charge beyond £100 for steaks in order to cover energy costs if they were not fixed. Restaurant bosses have urged the new Prime Minister Liz Truss to issue emergency support for the sector as some venues grapple with bill [...]
Construction sector shrinks for second month in a row as recession signals brighten September 6, 2022 Construction activity shrank for the second month in a row in a sign the UK economy’s malaise is spreading to every sector, a closely watched survey published today showed. S&P Global and the Chartered Institute of Procurement and Supply’s purchasing managers’ index (PMI) edged higher to 49.2 last month, up from 48.9 in July. Despite [...]
Vertu Motors registers profit increase but warns of rising electricity bill September 6, 2022 Vertu Motors said it is facing a rise in its electricity bill from the start of October, as it and many other companies see their fixed-price energy deals run out. The business revealed that it is paying below market rate at the moment for its power, but this will change shortly. “It should be noted [...]
Inland Homes shares plummet as it suspends shareholder buy-backs September 6, 2022 Inland Homes has announced it expects to make a heavy loss this year and has suspended its announced share buy-back programme.
If we’re going to get fracking, we’re going to need to overhaul our planning system September 6, 2022 In the face of an energy crunch which will put enormous strain on our economy, little makes more sense than making fracking a national priority. At a 10 per cent recovery rate, the potential natural gas reserve in the UK is enough to make us self-sufficient for 50 years. The safe and timely development of [...]