UK could face ‘summer of discontent’ as new railway strike to be balloted June 14, 2022 The UK could face a “summer of discontent” as members of the union TSSA working for Network Rail are to vote on a potential strike action. The TSSA announced 6,000 of its members will vote whether to walk out over pay, conditions and job security. Opened today, the ballot will close on 11 July and [...]
36,000 new millionaires created off back of property boom despite cost of living pinch June 14, 2022 While many Brits continue to struggle with the cost of living crisis, there were 36,000 new millionaires in the UK over the last 12 months. A boom in property helped the High Net Worth Individual (HNWI) population of the UK grow by 6.3 per cent in 2021, as wealth increased by almost 7.5 per cent [...]
Where next for WH Smith shares? June 14, 2022 WH Smith could be one of Covid’s big winners. The retailer is expected to release their latest trading update on Wednesday. It is sometimes said of WH Smith that if it didn’t exist, one wouldn’t invent it. However, the retailer, which is due to post a trading update this Wednesday, could be one of the Covid pandemic’s [...]
A struggle to get credit: Bank lending to hospitality nosedives following end of Covid loans CBILS and BBLS June 14, 2022 Outstanding bank lending to small businesses in the hospitality sector has fallen by more than £1.4bn since the end of CBILS and BBLS loans schemes. According to new data shared with City A.M., bank lending dropped to £14.6bn in April 2022, down from £16.08 billion in March 2021. With the cost of living crisis eating [...]
Letters: The Met’s trust challenge June 14, 2022 [Re: Crime in our capital city will stay high unless confidence in the Met is restored, June 10] As the cost-of-living crisis continues to bite, we’re seeing fresh waves of concern about a potential spike in crime figures . The Met currently has more police officers than ever before, yet it appears there is still [...]
Watchdog confirms review of petrol market as record prices put pressure on drivers June 13, 2022 The UK's competition watchdog has announced it will undertake a review into petrol station pricing, after a week of pain at the pumps.
Souring UK economic outlook sends London markets tumbling June 13, 2022 Fears that the UK economy is in the teeth of a sharp slowdown triggered a sector-wide sell-off on London markets today. The capital’s premier FTSE 100 index slid 1.53 per cent to 7,205.81 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, shed 2.61 per [...]
Inflation and recession concoction sends global markets into the mire June 13, 2022 Mounting fears over the worst inflation crunch in recent history plunging the global economy into reverse sent the world’s biggest stock markets spiralling today. London’s FTSE 100 index slid 1.53 per cent, while the mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, shed 2.61 per cent. Investors have [...]
Lloyds Bank to pay staff extra £1,000 each to deal with UK’s cost-of-living crisis June 13, 2022 Lloyds Bank is set to pay £1,000 bonuses to the vast majority of its UK staff to help them deal with the cost-of-living crisis. The UK’s biggest retail bank is set to give one-off, £1,000 bonuses to more than 64,000 of its rank-and-file staff, according to an internal memo seen by City A.M. The bank [...]
Top dining chains see losses swell as inflationary pressures hammer the high street June 13, 2022 The country’s top restaurants have seen losses swell considerably in the past six months, surpassing the £800m mark. According to analysis from accountancy firm UHY Hacker Young, losses at the top 100 restaurants swelled 24 per cent from £673m to £832m in just the past six months shows a new study by UHY Hacker Young, [...]