UK economy stumbles behind Euro peers as risk of recession gathers pace January 24, 2023 The UK economy is falling further behind its international rivals and experts, according to a closely watched survey. The survey by economists has revealed Britain’s services industry, which generates about £2 in every £3 in the country, is shrinking at the fastest pace in two years. S&P Global and the Chartered Institute of Procurement and [...]
Ovo Energy backs social tariff for vulnerable households facing record bills January 24, 2023 Ovo Energy has joined calls for a social tariff to help vulnerable households grappling with record energy bills.
Avatar’s success gives boost to struggling cinemas but future is still uncertain January 23, 2023 The highly anticipated Avatar sequel has ranked as the sixth-highest grossing movie ever, giving cinemas a much needed boost, although some analysts warn they are not yet in the clear. After six weeks on the big screens, “Avatar: The Way of Water” surpassed a staggering £1.6bn ($2bn) in box office sales on Sunday, Disney estimates. [...]
Former Labour MP Jared O’Mara ‘tried to claim up to £30,000 to fund extensive cocaine habit’ January 23, 2023 A former MP tried to fraudulently claim up to £30,000 in taxpayers’ money to fund an “extensive cocaine habit”, prosecutors have said. Jared O’Mara, 41, who represented the constituency of Sheffield Hallam from 2017 to 2019, is on trial for submitting “dishonest” invoices to the Independent Parliamentary Standards Authority (Ipsa). Jurors at Leeds Crown Court [...]
Glass half-full: Why Fuller’s chief remains optimistic despite strikes leaving a £4m dent in Christmas sales January 23, 2023 Pub chain Fuller’s lost £4m in sales due to the impact of strikes over Christmas and new year, as its chief warned of lower expectations for the full year. Chiswick-based Fuller, Smith and Turner reported in the 43 weeks to January that like-for-like sales were up a fifth on the Covid-impacted previous year – despite [...]
Slow fashion: Retailers embrace second-hand clothing to draw in thrifty eco-conscious fashion lovers January 23, 2023 High street retailers are following in the footsteps of their online rivals, offering more second-hand clothes to lure in shoppers wanting to steer clear of fast fashion and hunt for bargains amid a cost of living crisis. The second-hand clothing market has exploded over the last decade to an estimated £6.5bn last year, largely thanks [...]
Recession to be more than twice as bad as first feared, forecasters warn January 23, 2023 The much touted coming recession in Britain will be twice as bad as first feared, new forecasts out today reveal. Soaring prices coupled with the Bank of England’s efforts to tame them are set to deal a heavier blow to GDP than projected just a few months ago. According to the EY Item Club, the [...]
Rishi Sunak and Jeremy Hunt to shun tax cuts in March budget despite £11bn energy windfall January 23, 2023 Jeremy Hunt and Rishi Sunak will hold fire on tax cuts at the 15 March budget despite being handed an around £11bn windfall from international energy prices falling to pre-Russia-Ukraine war levels, according to top economists’ predictions gathered by City A.M. Brits will have to wait until the run up to the next general election, [...]
Bankers switching firms trouser more than 20 per cent pay bump January 23, 2023 City bankers, brokers and insurers switching to a rival firm trousered a more than 20 per cent pay bump last year, new research out today shows. The Square Mile’s best and brightest are switching companies in a bid to capitalise on rapid wage inflation in the financial services sector. According to recruiter Morgan McKinley, the [...]
Britain needs to run in circles, especially when we buy new clothes and other goods January 23, 2023 It might not make a dent in the cost-of-living crisis, but soon people will be able to get a small cash sum for every plastic bottle they recycle. The scheme, lauded by environmental campaigners, was finally approved last Friday. A rare slice of positive news, however, was overshadowed by a familiar problem in this Broken [...]