Unemployment to remain unchanged at four per cent as jobs market cooling continues August 14, 2023 Experts are expecting the slow cooling of the jobs market to continue when the Office for National Statistics (ONS) releases new data on Tuesday morning. The unemployment rate in the three months to the end of June is expected to remain unchanged at 4.0%, according to a consensus supplied by Pantheon Macroeconomics. But within this [...]
Rolls-Royce Motor Cars boss rakes in £1.77m pay packet after record year August 14, 2023 The boss of Rolls-Royce Motor Cars was handed a bumper £1.77m pay packet, up 72 per cent from last year, after sales and profit at the carmaker hit record levels in 2022. Rolls-Royce’s latest company filings show the group delivered a record 6,021 cars in 2022 – with the US, Greater China and European markets [...]
Gold tumbles as investor hopes of avoiding a global recession rise August 14, 2023 Gold prices have weakened in the face of a strong US dollar, with investor sentiment shifting away from the precious metal.
FTSE 100 close: London subdued on quiet earnings day as YouGov mulls US listing August 14, 2023 London’s FTSE 100 started the week in subdued fashion, as a quiet earnings day was overshadowed by reports that YouGov is mulling a US listing. The capital’s premier blue chip index closed the day on 7,495.24 points, down 0.88 per cent, while the FTSE 250 index, which is more aligned with the domestic economy, was [...]
No end in sight: Nearly 4m working days lost to strikes in past year as negotiations falter August 14, 2023 Talks between government and unions to resolve ongoing industrial disputes have repeatedly faltered, despite the UK losing nearly 4m working days to strikes over the past year. According to new research from the Resolution Foundation think tank, 3.9m working days have been lost to industrial action, higher than at any point since the 1980s. Highly [...]
Cost of living pressures set to ease as inflation tipped to fall again August 14, 2023 Cost of living pressures facing households are set to ease, as experts predict inflation will fall below wage growth for the first time since last April. Official figures out on Tuesday are tipped to show that wage growth hit 7.4 per cent in the three months to June on an annual basis, up from 7.3 [...]
London growth continues to outpace every other region amid interest rate pain August 14, 2023 London’s economy has continued to outpace the rest of the country even as rising interest rates and recessionary fears drag on confidence across the UK, a closely watched survey has revealed.
John Lewis CEO: Bailey wants you to be gloomy – and it’s working August 13, 2023 The new Chief Executive of John Lewis has given a stark warning to the Bank of England, cautioning against higher interest rates that could “tip into recession”. Nish Kankiwala was appointed as the Partnership’s first Chief Executive in March and has since been laying out his recovery plan for the struggling high street favourites John [...]
Marshalls: Can struggling landscaping giant exceed ‘fairly low’ expectations? August 13, 2023 Investors will turn their focus to building products supplier Marshalls interim results on 16 August to see if the business has picked up any momentum amid a growing slump in the UK house building market. The group, which is headquartered in West Yorkshire, has shown signs of struggling in recent months and announced in July [...]
After the economy grew again, will Bank of England’s rate hikes tip the UK into recession? August 11, 2023 The UK economy grew faster than expected in June, expanded 0.5 per cent, helping to bring growth in the second quarter to 0.2 per cent – but analysts are divided about what the figures say for the coming months. Growth in June was given a boost by a strong performance from the production sector, which [...]