Businesses scramble to hire workers despite looming UK recession August 8, 2022 Businesses are scrambling to fill vacancies at a rapid pace despite the UK staring down the barrel of the longest recession since the financial crisis, revealed new figures published yesterday. A shortage of workers partly driven by people dipping out of the jobs market due to Covid-19 related health issues and Brexit has intensified competition [...]
Global money transfers surged 60 per cent over the last decade to £538bn in the past year August 8, 2022 Global money transfers reached $653bn (£538bn) in the past year, a rise of 60 per cent over the last 10 years as economic trouble hits countries. Research by remittance provider ACE Money Transfer said the rise began as the world recovered from 2008’s global financial crisis in 2011-2012, with remittances important in aiding developing countries [...]
Letter: FCA starts a race against time August 8, 2022 [Re: FCA reveals major consumer regulation shake-up but delays deadlines after industry protest, July 27] The three-month extension for financial services firms to implement the FCA’s new Consumer Duty requirements is something of a double-edged sword. While extra time has been welcomed by the industry, it may have overshadowed a more pressing part of the [...]
Workers give Amazon until Wednesday to present improved offer after Tilbury strike August 7, 2022 Workers have given Amazon until Wednesday to present an improved pay offer after staff walked out last week over salaries, City A.M. understands. Around 450 workers at the Tilbury warehouse went on strike on Wednesday night and Thursday after Amazon responded to demands for a pay increase with a 35p per hour raise. Members of [...]
Half of all Brits risks falling into fuel poverty before the end of this year in harshest economic climate ever August 6, 2022 UK adults say the current economic climate is the harshest they have experienced, with half of all Brits either unable or soon to be unable to pay all of their bills. Millions of Brits are concerned about the months ahead as 47 per cent said they are not confident in their ability to pay their [...]
Empty offices due to hybrid work cost 9 in 10 businesses in London around £190,000 per year August 5, 2022 The poor use of physical office space – as a result of the increased uptake of hybrid working – costs 88 per cent of all London businesses around £190,000 on average per year. London businesses whose employees work in the office two to three days per week are taking a big financial hit by leaving [...]
A surge in freelancers has redefined flexible labour more than staff working from home August 5, 2022 The word flexibility is now unfailingly associated with remote and hybrid working, when really it means so much more when it comes to employment. Whether removing the commute, more family time or greater control over working hours, it boils down to independence. Pandemic restrictions gave the working population a taste of this independence. But the [...]
Don’t blame shops for prices if leaders can’t stop inflation August 5, 2022 Inflation is soaring and the UK’s food and drink manufacturers are under incredible pressure. No one can remember such sustained, relentless price rises across all our inputs – everything, from energy and ingredients to transport and wages, is more expensive. With food price inflation now at 9.8 per cent, everyone is asking: how much further [...]
Norton Rose Fulbright hikes NQ salaries after upping pay for rank-and-file staff August 4, 2022 City law firm Norton Rose Fulbright today said it would hand out up to 10 per cent pay rises to its rank-and-file staff after the firm upped pay for its newly-qualified lawyers to heights of £105,000 a year. The law firm today said it would give out pay rises of at least 5 per cent [...]
UK ahead of EV adoption curve but charging accessibility lags behind August 4, 2022 The UK is currently ahead of the Climate Change Committee’s electric vehicle (EV) adoption curve by more than 100,000 cars. According to figures by Volkswagen Financial Services UK, there were 833,000 EVs in the UK as of March – up 71 per cent on last year’s levels. At the same time, registrations of battery-electric vehicles [...]