Brexit-supporting Newark in shock as largest employer shuts up shop and heads for mainland Europe April 21, 2022 Local media and residents in the English town of Newark, as well as its local MP Robert Jenrick, are said to be shocked and disappointed by the decision of food producer Goodlife Foods to shut up shop and move its entire production to mainland Europe. The decision is likely to result in around 110 job [...]
Job losses loom in further sign of economic slowdown April 21, 2022 The UK jobs market is set to take a knock this year after it weathered the gloomiest post-furlough predictions, reveals new research published today. Around one in five firms are intending to scale back staffing levels over the coming year, according to conciliation service Acas. The fresh survey illustrates the steep deterioration in the trading [...]
Netflix fall a sign investors are looking again for fundamentals April 20, 2022 When the electric carmaker Rivian listed on Wall Street last year, it was briefly valued at more than Anheuser-Busch. The latter, most famously, produces Budweiser; a beer that sells in great quantities for more than it costs to produce. It is a functioning, well understood business, and despite the best efforts of governments we remain [...]
Irwin Mitchell hands staff £900 bonuses to get through UK’s cost-of-living crunch April 20, 2022 UK law firm Irwin Mitchell is set give its staff a £900 bonus each, to deal with the UK’s cost-of-living crisis. Staff working at the firm are set to receive a one-off payment on top of their April salaries to cover the costs of higher food and fuel prices. The firm said the one-off payments [...]
Mail chaos expected as thousands of Post Office workers agree to full-day strike over pay April 20, 2022 Thousands of Post Office staff across the UK are to stage a one-day strike in a dispute over pay. Members of the Communication Workers Union (CWU) will walk out on May 3 after voting overwhelmingly in favour of industrial action. The union said the strike is over a pay freeze for 2021 and the offer [...]
Balancing the budget won’t win voters hooked on Sunak’s years of spending April 20, 2022 On a balmy September day eight years ago, Ed Miliband strode onto the stage at Labour Party Conference and proceeded to deliver a marathon 66-minute speech without notes. Unfortunately for the then Labour leader, he managed to forget a key chunk of his prepared remarks – the bit about tackling the deficit. Cue glee from [...]
Accelerating costs and higher tax bills knock employers’ confidence April 20, 2022 Swelling cost burdens and higher tax bills are eating into UK businesses’ confidence in the country’s economic prospects, reveals a fresh survey published today. Severe inflationary pressures sourced from the Russia-Ukraine war sending energy prices higher and ongoing supply chain disruption has muddied the outlook for the UK economy. The world’s economic watchdog, the International [...]
Cost of living crisis to throttle UK economic growth, IMF warns April 19, 2022 A historic cost of living crunch that is being stoked by Russia’s invasion of Ukraine and strict lockdowns in China will disrupt Britain’s road to recovery, fresh forecasts published today by the world’s economic watchdog revealed. UK households are set to slash spending in response to rampant inflation eroding their living standards rapidly, choking growth [...]
‘Great British Rail Sale’ lambasted as website crashes April 19, 2022 The UK Government’s decision to sell one million train tickets at half price was lambasted today for excluding millions of commuters. Launched today, the “Great British Rail Sale” aims to help struggling Brits travel amid a cost-of-living squeeze but it only applied to advance fares or off-peak tickets for companies who don’t offer an advance. [...]
Cost of living crisis: High earners with salaries of at least £50k offered more and greater pay rises April 19, 2022 High earners are most likely to have been offered pay increases as the rising cost of living begins to bite, according to new research shared with City A.M. this morning. As inflation grew to its highest level in three decades and 22 million households brace themselves for soaring energy bills, a YouGov survey carried out on behalf of global [...]