Robert Walters posts 60 per cent profit slump as economic woes clobber recruitment August 1, 2023 A recruiter that is often viewed by analysts as a bellwether for the UK jobs market has posted a 60 per cent drop in profits as a result of firms trimming hiring amid the economic slowdown. Robert Walters, which specialises in sourcing talent for the City’s biggest banks, brokers and insurers, said today operating profits [...]
Alcohol duty rise is ‘biggest shake up’ in decades as booze to be taxed by strength August 1, 2023 The price of beer and wine will increase today as part of plans previously set out in the Spring Budget. Chancellor Jeremy Hunt announced the measures as part of the budget back in March, which saw an end to the blanket alcohol duty freeze which was put in place via the Autumn Budget 2020 during [...]
FTSE 100 close: HSBC leaps and BP gives up gains in mixed day for London index August 1, 2023 London’s FTSE 100 kicked lower today after a clutch of mixed results puzzled investors. The capital’s premier index fell 0.43 per cent lower to 7,666.26 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slipped 0.41 per cent to 19,065.66 points. A set of results [...]
Crash warning: House prices slump in July as market hits 2009 lows August 1, 2023 House prices have slumped by 3.8 per cent year on year, the latest closely watched figures from Nationwide show, as a season of high interest rates and weak consumer confidence continues to batter the market. The figure is the weakest since July 2009, although it is only slightly lower than the -3.5 per cent recorded [...]
Greggs: Evening sales and travel hubs send baker’s sales soaring August 1, 2023 Greggs recorded total sales of £844m in its interim results, up from £694m compared to the same period last year.
Tighter interest rates and inflation clobber UK business confidence August 1, 2023 Higher interest rates and elevated prices have thrown a wet blanket over UK business optimism, according to surveys out today. Confidence as measured by the lobby group the Institute of Directors (IoD) was largely unchanged last month at minus 30 points, up marginally from June’s minus 31 point reading. It solidifies signs that pessimism is [...]
Food inflation slumps to lowest level this year but experts caution against declaring victory yet August 1, 2023 Food inflation has slipped to its lowest level this year and has fallen for the third month in a row, an encouraging signal that suggests the UK is through the worst of the cost of living crisis, a new survey out today shows. The cost of groceries climbed 13.4 per cent over the year to [...]
Are central banks to blame for the inflation crisis? August 1, 2023 As we enter what looks like the final leg of central banks’ interest rate rising journeys, it’s as good a time as ever to trace why they have been jolted into action after over a decade of ultra loose policy and whether their response to the inflation crisis has been effective. Coming out of the [...]
The Notebook: Ian Whittaker on S4’s bad luck, a surprising election forecast and the unbeatable pull of strong brands August 1, 2023 Where the City’s movers and shakers get some things off their chest. Today it’s Ian Whittaker, founder of Liberty Sky Advisors S4’s latest woes are down to bad luck, not bad judgement The Q2 results season is in full swing and, so far, it is fair to describe the season as better than expected. The [...]
Heathrow boss: Aviation sector can’t bank on soaring demand continuing into winter July 31, 2023 The aviation sector should not bank on soaring demand continuing, the boss of Heathrow airport has warned, amid concerns that airlines could struggle after summer without corporate travels’ sustained recovery. “We all want to make the most of the demand while it’s here but we can’t bank on it continuing,” long-time chief John Holland-Kaye told [...]