Cautious consumers send chill through UK services economy July 5, 2022 Consumers are rolling back spending at pubs, bars and restaurants in response to rampant inflation whacking their budgets, reveals a closely watched survey published today. New business growth in Britain’s services industry, its economic engine, slowed to its worst level in 16 months in June, according to S&P Global’s purchasing managers’ index (PMI). The cool [...]
Saga on track for profits as pandemic recovery continues July 5, 2022 Over-50s specialist Saga said it was on track to return to profits today as it continues its recovery from a pandemic slump.
Bank of England orders lenders to strengthen reserves amid ‘deteriorating’ economy July 5, 2022 The Bank of England yesterday ordered lenders to fortify their defences in preparation for the looming economic downturn, warning the City against “excessive” cuts in lending to households and businesses. The central bank, which oversees Britain’s banking sector and the country’s monetary policy, doubled the proportion of money lenders need to keep in reserve to [...]
Fresh poll puts Channel 4 at bottom of Tory voters’ wish list July 5, 2022 New polls show that Channel 4 privatisation has the least support out of ten Tory policies that the government want to deliver between now and the next election. According to polling from WPI Strategy, privatisation of the broadcaster as the least support from those who voted Conservative back in 2019.Just 16 per cent of voters [...]
Venues plead Chancellor to reduce tax burden as pubs and restaurants face ‘bleak summer’ July 4, 2022 Night time economy bosses have urged the Chancellor to slash VAT to 12.5 per cent in a bid to help businesses recover to their pre-Covid glory. Pleas for help from sector leaders followed reports last week that Downing Street was mulling reducing the headline rate temporarily to help UK households navigate the cost of living [...]
Augmentum Fintech pulls back on fresh investment as ‘price correction’ looms July 4, 2022 Fintech venture vehicle Augmentum reported a “strong performance” in its portfolio last year but said it had pulled back on fresh investments in the past six months amid a rout in global tech firms.
UK Finance chair Bob Wigley: We need to create ‘reasons for banks to be in London’ July 4, 2022 Bob Wigley, a seasoned City veteran, knows a thing or two about banking. He has chaired UK Finance, the British banking sector’s representative body, since its creation in 2017 by condensing several lobby groups into one. He was also instrumental in setting up TheCityUK, spent over a decade with investment banking giant Merrill Lynch and [...]
4 Signs You’re Underpaid And What You Can Do About It July 4, 2022 We’re hearing a lot of buzz about it being a “job seekers market” and there is a big push within tech firms to hire specialist staff such as developers and engineers, many of whom are in short supply, which is driving up salaries. Despite recent news of staff cuts and hiring freezes in some areas [...]
Greenwashing creates ‘false confidence’ in climate fight, environment chief warns July 4, 2022 Rampant greenwashing is creating a "false confidence" in the fight against climate change and threatening to to derail efforts to hit net zero targets, the chief of the UK’s environment agency will warn today.
Hospitality crisis: Fewer pubs in England and Wales than ever before with less than 40,000 for first time on record July 4, 2022 Fresh analysis that sheds light on the ruinous impact of the pandemic and soaring business costs shows this a.m. that there are fewer pubs in England and Wales than ever before. The total number of pubs dropped below 40,000 during the first half of 2022, a fall of more than 7,000 since a decade ago. [...]