BoE deputy governor voted for ‘front-loaded’ tightening to quash wage pressures February 22, 2022 Strengthening wage pressures risking further upside inflation surprises led a deputy governor at the Bank of England to vote for a “front-loaded tightening in monetary policy”. Sir Dave Ramsden, a member of the Bank’s rate setting committee who voted for a 50 basis point rate hike at Threadneedle Street’s last meeting, said yesterday further hikes [...]
Home transactions settle back to pre-Covid levels with ‘best sellers’ market in decades’ February 22, 2022 More than 85,000 homes changed hands in January, with property transactions up on pre-Covid averages, HMRC data has revealed. Official figures show that the provisional non-seasonally adjusted estimate of UK residential transactions for January 2022 was 85,520. This was 22.2 per cent lower than December 2021. There were seven per cent more transactions than the [...]
Factory prices set to accelerate at fastest rate since mid-1970s as inflationary pressures bulge February 22, 2022 Factory prices are set to soar at their fastest pace since the mid 1970s as inflationary pressures in the UK economy dial up, according to a closely watched survey published today. A net balance of 77 per cent of British manufacturers intend to hike prices over the next three months, according to a survey by [...]
InterContinental brings back dividend amid recovery of global travel industry February 22, 2022 British hotelier InterContinental has said it will reinstate its dividend, after posting “encouraging” results for the full year 2021 amid the recovery of the global travel industry. In its 2021 results, InterContinental Hotel Group (IHG), which owns Holiday Inn Express, said its revenues per room had bounced back to 70 per cent of 2019 levels, [...]
Morses Club shares tumble 63 per cent as ex-boss dumps £200,000 of shares before profit warning February 21, 2022 The boss of one the UK’s top doorstep lenders dumped around £200,000 of his stake in the firm just before it sounded the alarm on profits to investors today. Paul Smith, chief of Morses Club, a high-cost consumer credit provider, ditched more than half of his stake in the firm last Thursday. Smith unexpectedly left [...]
Car dealers not repaying furlough money despite rocketing expected profits February 21, 2022 Car dealers are reportedly refusing to return funding provided by the government through furlough payments and business rates relief. The sector, which is expected to collectively post profits up to £1bn, will start paying both dividends back to investors and bonuses to managers and directors, a Times investigation reported. According to the outlet, dealership groups [...]
Congestion charge returns to pre-pandemic hours from today February 21, 2022 Starting today, the congestion charge applied to those driving into central London will no longer be active on weekdays from 6pm. The price cap, instead of going back to £11.50, will remain at the current rate of £15. The decision was made by London mayor Sadiq Khan in mid-December to strike a balance between helping [...]
Scrapping of Plan B curbs turbocharges UK services economy February 21, 2022 The British economy appears to be weathering the cost of living storm as the drag on businesses and households from pandemic curbs peters out. The scrapping of Plan B restrictions prompted Brits to pour back to high streets, pubs, bars and restaurants, lifting output in the services economy to an eight month high of 60.8 [...]
Homebuyers flood back to London amid return to office February 21, 2022 Movers are flocking back to London as the spectre of the Covid-19 crisis over the capital’s housing market fades away, reveals fresh figures published today. The scrapping of restrictions on daily life to curb infections and the return to the office is driving homebuyers to put London back at the top of their desired locations. [...]
The fierce wind of Storm Eunice shows why we must not forget about climate change February 21, 2022 Storm Eunice hit on Friday, bringing disruption across the country and once again focusing minds on climate change and how it may impact our lives in the future. Scientists are often reluctant to blame specific weather events on climate change, but the Met Office predicts that in future the UK will see warmer and wetter [...]