Bank of England governor Andrew Bailey ‘very uncertain’ about inflation decline February 9, 2023 The Bank of England’s governor, Andrew Bailey, has today admitted he is “very uncertain” about whether inflation will decline, forcing him to back another steep interest rate increase last week. Responding to a grilling by MPs on the commons treasury select committee, Bailey, 63, said he wants to see “more evidence” of the rate of [...]
UK risks ‘mothballing multi-billion pound projects’ by persisting with windfall tax on electricity generators – green energy boss February 9, 2023 The UK risks losing out to US and EU if it persists with the windfall tax on electricity generators, says a green energy boss.
Ben & Jerry’s owner Unilever: Turnover soars to £53bn driven by price increases against backdrop of inflation February 9, 2023 Unilever price hikes helped the firm deliver turnover of more than £50bn last year, as the group had a nine per cent increase underlying sales growth for 2022. The British firm – which owns brands such as Ben & Jerry’s, Dove, Hellman’s and Magnum – said that turnover also increased 14.5 per cent to €60.1bn [...]
Navigating the talent challenge: where should your people priorities lie over the next 12 months? February 9, 2023 The expertise and skills of people underpin the success of virtually every organisation. Yet ongoing skills shortages are often preventing today’s organisations from accessing the vital people they need to innovate and grow. ACCA’s inaugural 2023 Global Talent Trends Survey highlights some of the most pressing people challenges faced by employers globally, including in the [...]
Exclusive: Brits turn to buy-now pay-later to fund spending amid cost of living crisis February 9, 2023 Brits are turning to buy-now pay-later products to fund online spending amid a cost of living squeeze that is eroding their disposable income rapidly, exclusive research shared with City A.M. reveals. Nearly £1 in every £8 spent online last month was sourced from buy-now pay-later providers, according to research by Adobe Analytics. The proportion is [...]
CBI: Jeremy Hunt and Rishi Sunak must use budget to prevent recession and bolster UK economy February 9, 2023 Jeremy Hunt and Rishi Sunak need to use the spring budget to stimulate growth to prevent the UK tipping into a recession this year, the country’s biggest business group has urged today. The chancellor and prime minister should at the 15 March statement soothe the impact of a sharp rise in the UK’s profit tax [...]
Ignore the re-heated Thatcherism but listen to Truss: we need a growth plan February 9, 2023 Liz Truss has played a blame-game for her failures. But her diagnosis was right - Britain is failing to touch the sides of America's plan for growth. On this front, at least, Rishi Sunak needs to listen, writes Josh Williams.
Let’s be honest, we are suffering from a national crisis of bad vibes February 9, 2023 Strikes, NHS waiting lists, high energy prices and a constant stream of news about horrific crimes, natural disasters and economic gloom, Britain's Bad Vibes are keeping us down, writes Matthew Lesh
FTSE 100 close: BP propels London index to record high as UK set to swerve recession February 8, 2023 London’s FTSE 100 pumped to a record intraday high today led higher by oil giant BP and investors globally cheering signs that central banks are nearing the end of their interest rate rises. The premier index hit its record intraday high of a shade over 7,925 points at the open in the City today. It [...]
Drax rules out power cuts as Unite announce nine days of strikes at energy plant February 8, 2023 There is no threat to electricity supplies to homes and businesses, argued energy giant Drax, despite Unite's calls for strikes.