Oil prices recover to week-high totals despite US commitment to releasing 50m barrels November 23, 2021 Oil prices have rebounded towards $81 on both benchmarks yesterday despite US plans to release 50m barrels of oil from the Strategic Petroleum Reserve.
Telecom Plus: Shares soar despite decline in profits in crisis-hit industry November 23, 2021 Shares in Telecom Plus have rocketed 11.57 per cent despite falling profits amid expectations of a 10 per cent growth in customers.
CBI chief: Spectre of inflation is ‘very real’ and larger than we thought November 22, 2021 The chief of the influential business group the Confederation of British Industry (CBI) has warned that inflation is “very real” and is threatening to squeeze British firms. Speaking at the CBI’s annual conference, the group’s director general Tony Danker warned that pay hikes will “spill over” into prices, intensifying the cost of living crisis pinching [...]
Ministers warned that failing to solve £360m in pandemic rent arrears could lead to ‘mass homelessness’ November 22, 2021 Ministers are being warned this morning that a failure to tackle the £360m in rent arrears accrued during the pandemic could cost the Government over £2.6bn because of the danger of “mass homelessness.” The Big Issue said it costs the Government £9,266 for every person made homeless, whereas the price of preventing homelessness is £2,263. [...]
Boris Johnson to force all new UK buildings to install EV charging points November 21, 2021 Owners of newly built homes and commercial buildings will be forced to install electric vehicle charging points from next year under new regulations to be announced by Boris Johnson tomorrow. The new regulations, which Downing Street says will lead to 145,000 extra charge points installed across England each year, will also extend to properties “undergoing [...]
Rush to buy Christmas presents lifts Brits’ optimism November 19, 2021 A rush to buy Christmas presents early to avoid being stung by potential shortages has lifted Brits’ confidence. Shoppers are ready to pounce on big ticket purchases at Black Friday and over the festive period, research by GfK has found. Intention to splurge on expensive products jumped seven percentage points over the last month, climbing [...]
Soaring inflation and tax hikes to squeeze UK economy November 18, 2021 TAX hikes, soaring inflation and an end to pandemic-related government support is souring the UK economy’s prospects, according to City analysts. Brits’ spending power will be eroded by the intensifying cost of living crisis, restricting their ability to splash the cash and drive the economy, analysts at Deutsche Bank warned today. Inflation is accelerating at [...]
Treasury needs to play nice with regulators to make a success of post-Brexit rules November 18, 2021 Uncertainty is a killer for businesses. Too bad it is everywhere you look. Unknown unknowns are impossible to root out, but firms have developed coping strategies to allow them to live in a deeply fragile world. The underlying factors that triggered the financial crisis were unknown unknowns to (almost) everyone, even if they seem obvious [...]
Swelling energy bills propel inflation to 4.2 per cent, more than double Bank of England’s target November 17, 2021 Swelling household energy bills have propelled inflation to more than double the Bank of England’s target, dialling up pressure on the Old Lady to act to hose down red-hot price rises. Inflation scaled to 4.2 per cent in October, up sharply from 3.1 per cent in the previous month, according to the Office for National [...]
UK business sentiment hits 12-month low amid supply chain and inflation woes November 15, 2021 British business sentiment dropped to its lowest level in a year in October, dragged down by fears of looming inflation and supply chain pressures that could undermine a sustained recovery from Covid disruption. Inflation expectations among UK business leaders surge to a record high last month, with 66 per cent expecting non-staff costs to increase [...]