Tory leadership race has created a surplus of Twitternomics July 21, 2022 Economics really has become the new battleground for armchair commentators. Are unfunded tax cuts inflationary? Should we worry about the UK debt stock nearing the same size as the economy? Such questions have sparked long Twitter threads that have generated even longer threads in response. Who’d have thought the dismal science was so interesting to [...]
Jitters over global recession send FTSE 100-listed industrial giants lower July 21, 2022 Jitters over a slowdown in the global economy pulled industrial stocks lower today, taming gains on London’s FTSE 100, but Frasers group boosts mid-cap index. The capital’s premier index edged 0.09 per cent higher to 7,270.51 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
‘Left in limbo’: Pubs and brewers disappointed as alcohol duty legislation pushed back July 21, 2022 Brewers and pubs have been “left in limbo” after the government has announced delays to the next phase of changes to the alcohol duty system. Draft legislation was set to be published this summer, to be consulted on before being introduced through the 2022/2023 finance bill. Ministers have been looking at how to introduce changes [...]
S4 Capital shares tank 40 per cent as Sorrell’s brainchild issues profit warning July 21, 2022 Shares in S4 Capital tanked over 40 per cent this afternoon after the advertising giant issued a profit warning.
PensionBee eyes profits next year after boom in customers July 21, 2022 Pensions fintech PensionBee said it was on track to hit profitability by the end of 2023 today as it revealed it had boosted its invested customer base by 72 per cent on last year.
Mike Ashley’s Frasers Group posts record profits as retailer’s revenues surge July 21, 2022 Frasers Group today posted “record” pre-tax profits after the group’s revenues grew 30.9 per cent, to heights of £4.75bn. The revenue growth saw Mike Ashley’s retail conglomerate post “record” adjusted profits before tax of £344.8m. The record results come after the firm posted pre-tax profits of just £8.5m in 2021, due to the impacts of [...]
Restaurateurs grapple with food costs as dairy prices spike July 20, 2022 Restaurateurs are being forced to fork out more and more to create Brits’ favourite dishes, with the sharpest price hikes among dairy, grains and meat. Dairy costs have surged the most, with increases of up to 40 per cent, according to data from around one thousand pubs and restaurants collected by Fourth. Grains, including pasta [...]
Planned redundancies down by a fifth as firms spooked by pandemic’s impact on labour shortages July 20, 2022 Firms are putting off planned redundancies despite rising business rates and inflation, after being spooked by the pandemic’s impact creating severe staff shortages. The number of redundancies has fallen by 21 per cent from in the last quarter according to law firm GQ|Littler. The figures show it dropped from 50,382 to 39,669 up to the [...]
FTSE finance chiefs brace for recession July 20, 2022 Britain’s top finance chiefs are bracing for a recession driven by inflation crimping consumers and thinning businesses’ margins, a new survey published today reveals. Chief financial officers (CFO) at the UK’s largest listed companies think there is a 63 per cent chance of the economy swinging into reverse over the next 12 months, according to [...]
HMRC takes tougher stance towards tax evasion following Covid and war in Ukraine July 19, 2022 The UK government is taking an increasingly tough stance towards tax evaders, according to new analysis from Pinsent Mason, in a sign HMRC is taking an increasingly tough stance towards tax evaders in its efforts to balance the UK’s books, lawyers have said. The number of individual taxpayers charged with tax evasion jumped 11 per [...]