Pepco CEO to step down this year due to health reasons January 5, 2022 Poundland owner Pepco has announced its chief executive officer Andy Bond will step down later this year due to health reasons. Pepco Group, which owns discount retailer brands including PEPCO, Poundland and Dealz, said Bond will step down at the end of March. He is expected to stay on the board as an advisor until [...]
Tech Special: The jobs, sectors and countries most at risk of automation and robotics in 2022 January 5, 2022 Digital change and automation are driving enormous productivity gains in the world of work. However, the rapid changes mean many individuals, businesses and even entire nations will be hugely impacted by automation and tech, with some roles and jobs to be replaced by robots altogether. Many of the industries that are most at risk of [...]
Dropping earnings threshold and extending pensions auto-enrolment to younger and part-time workers could boost Brits’ savings by £2.7 trillion January 5, 2022 Abolishing the earnings treshold and extending pension auto-enrolment to working 18-year-olds and for part-time workers could add around £2.77 trillion to British pension savings, a think tank has said. The current auto-enrolment rules mean bosses must provide a workplace pension for staff aged 22 and over earning £10,000. But Onward, which describes itself as a [...]
Desperate travel sector demands all international Covid testing requirements are scrapped immediately January 5, 2022 All testing requirements for international travellers should be abolished immediately, the travel industry said this morning. Manchester Airports Group (MAG) and Airlines UK said research they commissioned into travel restrictions found domestic, not international, restrictions would be the only way to reduce the spread of Omicron. Pre-departure and day two PCR testing were reintroduced in [...]
Exclusive: The challenges and hurdles City finance chiefs will face in 2023 January 4, 2022 Firms across practically every industry in the UK are facing a bleak economic winter ahead, but where is that playing out and what hurdles do the incoming storm clouds bring in 2023? City firms will be turning to one senior figure to understand these issue and look to keep the ship afloat – the Chief [...]
Mortgage approvals flatline in wake of stamp duty holiday January 4, 2022 The number of mortgages approved in November last year exceeded expectations, despite dropping slightly compared to the previous month. Some 66,964 mortgages were approved in November 2021, according to fresh data published by the Bank of England this morning. Although November was down on October’s figure of 67,103 the number of approvals exceeded real estate [...]
New year, new record: S&P 500 hitting new high on first day of 2022 is sign investors remain bullish about stocks January 4, 2022 The new year start off with a bang for global markets as Wall Street recorded record highs for the S&P 500 and the Dow Jones Industrial Average. The S&P 500 rose 0.6% and the Dow finished 0.7% higher. Both indexes eclipsed the record highs they set last Wednesday. The Nasdaq composite rose 1.2%. Technology stocks [...]
Ethereum’s hashrate hits record high after outperforming Bitcoin in 2021 January 3, 2022 Data from CryptoCompare shows that the price of Bitcoin started the week at around $51,000 and quickly dropped to test its support at $45,000.
Evergrande shares halted in Hong Kong as creditors await new restructuring plan January 3, 2022 Embattled Chinese real estate behemoth Evergrande overnight halted trading in its shares on the Hong Kong stock exchange. No reason was given for the share suspension by the firm. The move is the latest turn in the crisis that has engulfed what was once China’s largest property developer. Evergrande is estimated to have built millions [...]
PMI: Signs of supply chain restoration emerge in Europe January 3, 2022 Signs that the supply chain crisis that has plagued economies across the world is easing are emerging in Europe, reveals a closely watched survey released today. The amount of time it takes manufacturers in the Eurozone to get their hands on materials rose at the slowest pace since February last year, according to IHS Markit’s [...]