London ensnared by global market turmoil as recession jitters spread May 19, 2022 The City was ensnared by a global market sell off today driven by investors ditching stocks over fears soaring inflation will tip major economies into recession. Britain’s biggest companies shed around £40bn today. London’s premier FTSE 100 index tumbled just under two per cent, taking its total losses for the year so far to nearly [...]
Policing minister and BRC say ignore call for ‘discretion’ prosecuting shoplifters May 19, 2022 The policing minister has urged officers not to let people off the hook if they steal food in order to feed their families amid a cost of living crisis. Kit Malthouse hit out at the “old-fashioned” thinking put forward by Andy Cooke, the new chief of HM Inspector of Constabulary, who said police should use [...]
From calorie counts to meal deals, Boris Johnson can’t make up his mind May 19, 2022 When American political activist Ralph Nader famously called McDonald’s double cheeseburger “a weapon of mass destruction” he was on to something. On this side of the pond too, decades of unhealthy fast – and fat – food eating have left a mark. Around 63 per cent of adults in England are either overweight or obese. [...]
Young’s to swap salmon and chicken for cheaper alternatives May 19, 2022 Pub chain Young’s has said it is prepared to switch pricier menu staples for cheaper alternatives as inflation stands at a 40-year high. Speaking to CityA.M., Young’s CEO Patrick Dardis said the company had switched salmon for fresh trout after steep price increases. “Pork is cheaper than chicken and so we have the ability to [...]
Bad at maths? The cost of Britain’s poor numeracy skills is no laughing matter May 19, 2022 Our nation’s poor report card for numeracy skills has been a longstanding challenge, and the current cost-of-living crisis is making that even more apparent. We all use numbers to navigate day-to-day life – from understanding interest rates to working out value for money while shopping. Nearly half of the UK’s working population has the numeracy [...]
Explainer-in-brief: Where the world was the last time inflation was this high May 19, 2022 Yesterday the Office for National Statistics (ONS) announced that UK inflation had hit 9 per cent, reaching the highest level since 1982. This year we have slowly emerged from the pandemic, witnessed the Kremlin’s ongoing war in Ukraine, and we’re facing a dire cost of living crisis. But what was going on last time that [...]
Jaws drop as it emerges UK Health Security Agency pays 1,400 consultants as much as £3,100 per day May 19, 2022 It emerged today that the UK Health Security Agency is paying consultants as much as £3,100 per day. While the number used by the UKHSA has reduced, as of January 31 it was still employing 1,476 management consultants. In a letter to the Public Accounts Committee, the UKHSA said that the majority of these consultants [...]
Petrol retailers could face fines if they fail to pass on fuel duty cuts to consumers May 19, 2022 Petrol retailers could be fined if they fail to pass on fuel duty cuts to customers, warned the Competition and Markets Authority.
National Grid posts £4bn profit amid soaring electricity and gas prices May 19, 2022 National Grid announced operating profit was up 11 per cent to £4bn as the firm continues to invest in its energy transition.
Windfall tax would jeopardise North Sea investments argues UK’s offshore energy body May 18, 2022 The UK's leading offshore energy body has warned Kwasi Kwarteng that a windfall tax could undermine stability in the oil and gas sector.