Britain’s biggest banks in higher interest rate profit boost as earnings season kicks off April 24, 2022 Profits at Britain’s biggest high street lenders have been boosted by the Bank of England hiking interest rates to tame historic high inflation. That’s according to top City analysts who are forecasting the UK’s largest banks to have reaped the rewards of being able to charge borrowers more for loans. A higher interest rate environment [...]
Week ahead: City eyes cladding bill impact on house builders’ bottom lines April 24, 2022 Signs of the negative impact of the government turning to home builders to fix the cladding crisis is likely to draw City traders’ gaze in a week of jam packed corporate and economic announcements. London’s capital FTSE 100 index dipped 0.78 per cent to 7,521.68 over the last week, while the mid-cap domestically-focused FTSE 250 [...]
Govt urged to launch nationwide ‘holiday fun fund’ for poorer families to battle rising cost of living April 22, 2022 The government should create a new nationwide “holiday fun fund” as part of their response to the rising cost of living, the Lib Dems said today. The party believes it could help make sure children from poorer families can still enjoy outings and activities during school breaks. The Liberal Democrats also want to ensure all [...]
Cost of living crunch looms as retail sales continue to fall April 22, 2022 The UK’s cost of living crisis is increasingly showing signs in consumer spending habits, with retail sales volumes continuing their descent, according to the latest figures. Sale volumes shrank by 1.4 per cent in March 2022, following a fall of 0.5 per cent dip in February. However, sales volumes were 2.2 per cent above their [...]
Brits already cutting spending amid cost of living squeeze April 22, 2022 Predictions that the historic cost of living crunch will trigger a sharp pull back in spending look nailed on come through, two surveys suggest. Around one in three households have already cut spending just four months into the year, consultancy KPMG said today. Brits are forgoing discretionary purchases in response to greater pressure on their [...]
Rain Newton-Smith interview: Go for growth to turbocharge economic resilience April 22, 2022 Everyone knows the dismal time the UK economy is in for over the coming year – but let’s recap. Living standards are scheduled to fall at the steepest rate in 66 years as a result of wages failing to keep pace with an average annual inflation rate of over seven per cent, according to the [...]
Stretched employees face unmanageable workloads due to staff shortages, new survey show April 21, 2022 Almost two-fifths (38 per cent) of workers have said they are struggling to deal with “unmanageable” workloads, as a result of staff shortages, according to a survey from Totaljobs. At the same time, almost half (46 per cent) would like to see their companies hire more workers to make their workloads more manageable, while another [...]
BP pushes forward with North Sea oil and gas project April 21, 2022 BP has submitted its environmental statement for the Murlach project to the energy regulators, as it pushes ahead with plans to develop the site.
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 [...]