London drives hotel investment as confidence in sector returns in absence of Covid restrictions February 10, 2022 Some £4bn was pumped into the UK hotel market last year, as the sector eyes the easing of Covid travel restrictions. Investors continued to boost the country’s hotels despite Covid uncertainties, thanks to an improvement in the visibility for future trading, according to research from property adviser Knight Frank. Hotel transaction volumes in the capital [...]
Businesses urged to snap up £850m in unused Covid-19 support February 10, 2022 Businesses have been urged to apply for Covid-19 supports grants, after the business minister admitted today that £850m worth of funding is still up for grabs. The funding has been made available by government to councils in England, for them to distribute to businesses in need. More than £550m is still yet to be allocated [...]
Households under pressure to cut down energy use under new smart meter plans February 10, 2022 Millions of British households could face growing pressure to ration their energy after three of the UK’s largest energy suppliers declared their support for a radical overhaul of energy pricing. Scottish Power, EDF and Octopus Energy told The Telegraph they support radical new tariffs under which customers will be charged more for using energy during [...]
‘Outdated recruitment practices’ exclude job seekers with disability, criminal record or older workers February 10, 2022 Outdated recruitment practices should be addressed to tap into more diverse pools of talent, including those who are disabled, have prior criminal convictions and younger and older workers, according to an industry group. The call to action issued by Business in the Community (BITC) comes as analysis shows that there are 3.1m people in the [...]
Cyber market boosts Beazley’s “robust profit” February 10, 2022 International insurance firm Beazley has reported a “robust profit” of $369.2m as a result of opportunities increasing in the cyber market. The firm said that, in the six months ended 31 December, its return on equity went up to 13 per cent on 2020 levels to 16 per cent, while its gross premiums written surged [...]
SMEs need support February 10, 2022 Since April 2020, as the pandemic started to truly bite, we’ve been getting regular feedback from our UK members about the financial outlook of their SME clients through our monthly ACCA UK and Corporate Finance Network SME Recovery Tracker. The data provides an insightful picture of the ups and downs for SMEs. We’ve seen how [...]
Want fairness? Beware the opportunistic calls for a windfall tax on energy giants February 10, 2022 Both the Labour and the Lib Dems have proposed a “one-off” windfall tax on the profits of UK oil and gas companies to help families struggling with their energy bills. Surely it’s only fair that giants like BP and Shell, making bumper profits, should be asked to pay a little more? Not quite. For a [...]
Bailey’s wage dilemma is real, but the Bank has dragged its feet on inflation February 10, 2022 It is often argued the signal central banks’ bond buying programmes send to markets is more effective at shaping financial conditions than the purchases themselves. It is all about influencing expectations by sending the message that monetary policy will stay loose. Governor of the Bank of England Andrew Bailey’s message to workers to temper pay [...]
Inflation crunch to intensify as wave of firms hike prices to survive cost assault February 10, 2022 A cost assault is forcing businesses to hike prices to protect margins in a sign the UK cost of living crisis is set to get worse before it gets better, reveals a new study published today. Around three in four firms are raising prices to weather soaring energy and staffing costs in what is being [...]
Go for growth to avoid economic stagnation, experts urge February 10, 2022 Going for growth by avoiding repeatedly hiking taxes to fund an ever-expanding British state is crucial to boosting the country’s economy, experts urged today. Policymakers must escape the trap of choking economic growth by financing further government spending by repeatedly hiking taxes. John O’Connell, chief executive of the TaxPayers’ Alliance, told City A.M.: “Ministers must [...]