CMA fires warning shot at cost of living cartelists May 11, 2022 Cartelists that treat the cost of living crunch as an excuse for anti-competitive collusion will face the firm hand of the regulator, the UK’s competition watchdog warned today.
E.ON suffers massive drop in profits amid spiralling wholesale costs and Russian uncertainty May 11, 2022 E.ON has suffered a 15 per cent drop in first-quarter profits, blaming higher energy prices that it was unable to pass on to customers.
Property heavyweight slams housing reforms in Queen’s Speech: ‘Nothing new – simply old policies re-hashed’ May 11, 2022 The Queen’s Speech will do little to solve Britain’s housing crisis, a leading property association shared with City A.M. this morning. There were three main commitments linked to housing in the Government’s announcement; the Renters’ Reform Bill which will end unfair evictions; the Social Housing Regulation Bill which will give tenants more rights and vital [...]
Letters: Insurance is paying a price May 11, 2022 [Re: Hiscox sets aside £32m to weather impact of war in Ukraine, May 5] What’s happened with insurer Hiscox is just another example of how the insurance industry is now entering the most prolonged hard market in living memory. After the financial and reputational losses sustained during the pandemic, we are now deep into a [...]
Michael Gove: There won’t be an emergency budget to tackle the cost of living crisis May 11, 2022 Levelling Up Secretary Michael Gove has insisted there will not be an emergency budget to deal with the cost of living crisis. The minister made his comments on Sky News this morning after the prime minister told the Commons yesterday, that Rishi Sunak would be “saying more” on the UK’s response to rising inflation and [...]
UK recession lurks around corner as thousands face extreme poverty without more support May 11, 2022 A recession in the UK is just around the corner and the economy will stay in the doldrums without a major policy overhaul, a top think tank warned today. Britain’s economy will contract in the third and fourth quarters of this year, meeting the grade for a technical recession, the National Institute of Economic and [...]
Scrap National Insurance hike to ease cost of living, says Khan May 10, 2022 BORIS Johnson should cut National Insurance contributions in a bid to ease the cost of living, Sadiq Khan has said during a trip to the US. The Queen’s speech, delivered today, did not include further measures to ease the burden of sky-high gas prices and the Prime Minister warned that “we cannot spend our way [...]
Energy Bill: Government commits to renewable ramp up but lacks plan for cost-of-living crisis May 10, 2022 Industry commentators have responded to the inclusion of the Energy Security Bill in the Queen's Speech, and the lack of support for households.
Cost of borrowing surges as overdraft rates hit record highs: Credit card fees back to the ’90s May 10, 2022 Data covering quoted household interest rates on consumer credit products released by the Bank of England this week reveal the rising cost of borrowing for UK households, With the Bank hiking interest rates by 0.25bp last Thursday and inflation expected to show a climb yet again for April, the fresh data demonstrates the difficult decisions [...]
Ex-Monzo boss wants weekly shop to ‘feel like magic’ as Lollipop startup reveals £5m fundraise May 10, 2022 Lollipop, a grocery startup headed by a former Monzo exec, has raised £5m, as it appeals to families wanting to cut down on the time taken by the weekly shop. While a flurry of startups have looked to offer shoppers on-demand grocery delivery, ex-Monzo COO, Tom Foster-Carter, has taken a different approach to the burgeoning [...]