London leads the way: SME confidence rebounds to nine month high after 50,000 firms folded last year February 21, 2023 Confidence among small and medium-sized businesses (SMEs) continues to grow across the UK, with London leading the way, new data out today showed. 60 per cent of respondents in the capital expect their revenue to grow this quarter while they intend to make 12 new hires this quarter, according to Barclays SME Barometer. London is [...]
Jeremy Hunt’s fiscal rules are holding back the UK economy – it’s time for change February 21, 2023 Bean counters are running the Treasury again. I’m imagining sheets of paper plastered with Jeremy Hunt’s current fiscal rules pinned up around Whitehall to remind departments of the belt-tightening needed to balance the books. Fiscal rules are targets Chancellors have aimed to meet since George Osborne pivoted away from Gordon Brown’s “Golden Rules” in 2010 [...]
Natwest boss Dame Alison Rose to head government energy efficiency drive February 20, 2023 The government has appointed Natwest chief executive Alison Rose to spearhead its new energy efficiency task-force.
Sainsbury’s cuts prices as supermarkets battle to provide cheap food in cost of living crisis February 20, 2023 Sainsbury’s has become the latest British supermarket to try and reduce the price of their products, after it revealed it will launch discount £2 fruit and vegetable boxes. Sainsbury’s said that its ‘Taste Me, Don’t Waste Me’ boxes will include a variety of surplus fresh fruit and vegetables with the boxes being sold at a [...]
Nuclear industry defends Sizewell C project as Hinkley Point C is priced at £33bn February 20, 2023 Sizewell C will be a huge boost to the UK's energy ambitions, argued the leading nuclear industry body amid concerns over costs.
FTSE 100 close: Barclays and Lloyds Bank help London index kick off new week in the black February 20, 2023 London’s FTSE 100 kicked off the week with a positive start, led higher by Lloyds Bank and Barclays which both rose ahead of UK banks’ earnings season ramping up. The capital’s premier index nudged 0.12 per cent higher to 8,014.22 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]
OPEC+ decisions not politicised, Saudi energy minister insists February 20, 2023 Decisions by OPEC+ are not politicised, argued Saudi Arabian energy minister Prince Abdulaziz bin Salman.
Tesco raises store workers pay by 7 per cent February 20, 2023 Tesco, Britain’s biggest retailer, will raise hourly pay for about 220,000 store workers by 7 per cent from April – another increase that will likely catch the attention of the Bank of England, which is worried about inflationary pressure in the economy. The supermarket group, one of the country’s largest private sector employers, said a [...]
Pressure mounts on Sunak over planned six per cent rise in corporation tax February 20, 2023 Prime minister Rishi Sunak is facing down the prospect of a rebellion over next month’s budget as renewed pressure mounts over a planned increase in corporation tax increase. Seven top Tory backbenchers and business owners including Wetherspoons boss Tim Martin have urged Sunak and chancellor Jeremy Hunt to scrap the planned six per cent rise. [...]
Energy providers demand government incentives to stop UK providers losing out on green projects February 20, 2023 The energy sector is ramping up pressure on the government to bolster the investment climate for green projects.