University education contributes to regional inequality, according to IFS September 17, 2021 University education is contributing to geographical inequality across the UK, according to a new report published by a leading economic think tank today. Higher education allows graduates to move to London and other cities that offer better career prospects, shows research by the Institute for Fiscal Studies. By the age of 27, graduates are 10 [...]
KPMG: Britain’s tax system is having an identity crisis September 17, 2021 Every so often a debate about UK tax policy cuts through into the media and public imagination, as we’ve seen in this last couple of weeks. The Health and Social Care levy has thrown a light on some big questions about how, and from whom, we raise money to fund the country’s public spending needs. [...]
Chinese Uber rival Didi’s users drop by 30 per cent after US IPO saga – CityAM : CityAM September 16, 2021 Chinese ride-hailing giant Didi has lost 30 per cent of its app’s daily users since its $4.4bn IPO in New York at the end of June, in the latest blow to the company following Beijing’s harsh regulatory crackdown for an alleged data breach. Didi’s average daily users plunged to 10.9m in August from 15.6m in [...]
John Lewis posts £29m pre-tax loss after restructuring costs September 16, 2021 John Lewis has reported a pre-tax loss of £29m for the year’s first half, after restructuring costs. However, the high street giant said its half year results ending July 31 marked a significant improvement on last year’s pre-tax loss of £635m. Profit before exceptional items was £69m, up £124m on the comparable period last year, [...]
John Lewis posts £29m pre-tax loss after restructuring costs – CityAM : CityAM September 16, 2021 John Lewis has reported a pre-tax loss of £29m for the year’s first half, after restructuring costs. However, the high street giant said its half year results ending July 31 marked a significant improvement on last year’s pre-tax loss of £635m. Profit before exceptional items was £69m, up £124m on the comparable period last year, [...]
From Scotland, with love: indulgent drink driving laws get us nowhere September 16, 2021 In December 2014, Scotland introduced a new policy modifying its drink-drive limit, to reduce the number of alcohol-fuelled traffic accidents. The legal limit was slashed from 80 to 50mg per 100ml of blood. Now, seven years later, a study published in the Journal of Health Economics has looked at the impact of the policy. The [...]
Redrow touts ‘record’ order book as revenue climbs towards pre-Covid levels September 15, 2021 Revenue at housebuilder Redrow has begun climbing towards pre-pandemic levels, as it touts a “record” order book after reinstating a dividend for loyal shareholders. Revenue hit £1.94bn in the year to 27 June, just eight per cent behind 2019, after it soared 45 per cent from 2020’s supressed figure. Profit before tax surged 124 per [...]
UK manufacturers’ costs rise at fastest pace in a decade September 15, 2021 UK manufacturers’ costs rose at their fastest pace in a decade last month, adding to concerns price rises in the British economy may be much stickier than expected after separate data published today shows consumer price inflation jumped at its fastest rate on record. Input prices – typically materials used in the day-to-day running of [...]
JD Wetherspoon to hike meal prices 50p ahead of VAT increase September 15, 2021 Pub giant JD Wetherspoon has said it will have to increase prices of meals by 50p later this month because of a VAT increase. Prices of meals at the pub group will go up on Wednesday September 29, ahead of VAT rising to 12.5 per cent on Friday October 1. The group will slash the [...]
Analysis: How did inflation rise at its fastest pace on record? September 15, 2021 Inflation in the UK is soaring at its fastest pace since records began. On an annual basis, prices jumped 3.2 per cent last month, up from two per cent in July, the highest monthly percentage point increase recorded, primarily driven by sharp rises in the cost of eating out compared to the same period in [...]