Corporate insolvencies surge as firms struggle to survive harsh economic climate January 17, 2023 The number of company insolvencies in December 2022 was 76 per cent higher than before the Covid-19 pandemic, new data from the ONS revealed on Tuesday. There were 1,964 company insolvencies in December 2022, 32 per cent higher than the previous year and 76 per cent higher than the 1,119 registered in December 2019. Fladgate’s [...]
Train drivers will strike AGAIN in February with Thameslink and Gatwick Express to be disrupted January 17, 2023 Train drivers are to stage fresh strikes after the rejection of a pay offer. Members of Aslef will walk out on February 1 and 3, causing more travel disruption across the country. The first strike will coincide with a walkout by 100,000 civil servants in their dispute over pay and jobs, a strike by teachers [...]
Brits’ take home pay still falling rapidly despite record wage rises January 17, 2023 Brits are suffering one of the sharpest hits to their take home pay despite businesses handing workers bumper pay prices, official figures out today reveal. Real pay tumbled 2.6 per cent over the three months to November, among the steepest drops seen outside the Covid-19 crisis, according to the Office for National Statistics (ONS). The [...]
Naked Wines: 2023 revenues likely to rise but challenging times still ahead January 17, 2023 Naked Wines increased its full year earnings estimates upward to between £13 and17m, compared to previous guidance of around £9m to 13m. In a trading update for the quarter ending 26 December 2022 Naked Wines said it expected trading performance to remain flat, trading compared to the previous year. There was no change to a [...]
To withstand future recessions, the UK needs radical supply side reform January 17, 2023 When academics write essays, they begin with an abstract that captures the causes, effects and outcomes of the economic policy change they are examining. Boosting the supply side has a pretty simple argument. Either increasing the volume or productivity of resources used to produce things makes a country richer. That’s it. Let’s take a look [...]
All aboard another year of fighting over low-traffic neighbourhoods and e-bikes January 17, 2023 Low Traffic Neighbourhoods and e-scooters will impact how we get around in London - and with transport strikes still making the headlines, it's going to be a rather interesting year, writes Claire Harding
Feeling Moody: Ratings agency downgrades outlook for UK’s troubled water companies January 16, 2023 Moody's has downgraded its investment outlook towards the UK's embattled water industry from stable to negative.
Sika offloads assets to Sir Jim Ratcliffe’s INEOS to pave way for MBCC deal January 16, 2023 Sika has agreed to sell part of its admixture business to UK-based INEOS, the construction chemicals maker confirmed today,.
Biscuit lovers help lift Fortnum & Mason’s back from the brink January 16, 2023 Fortnum & Mason has returned to profitability following two successive years of losses. The historic British department store and grocer reported an operating profit of £6.1m on sales of £187m when its year ended on 10 July 2022. This marks a dramatic turnaround from the £2.7m loss the luxury food store posted in its previous [...]
Explainer-in-brief: January, another month when you can’t afford to buy a home January 16, 2023 Over the weekend, I received an innocuous looking email. “Dear Elena,” wrote a reader, ” I hope you don’t mind me emailing you. Is there any hope for young people buying their own house?” While I can’t possibly comment on his own individual circumstances, today was not good news: house prices have jumped up again [...]