Rishi Sunak warns his cabinet about ‘challenging’ winter of UK strikes December 13, 2022 Rishi Sunak has warned his cabinet that winter will be “challenging” as widespread industrial action ramps up and as the economic downturn deepens. The Prime Minister’s official spokesman today said the “government will do all we can to minimise disruption”, while calling for union bosses to get back to the negotiating table. Today marks the [...]
Decade high 400k working days lost to strike action in October December 13, 2022 Over 400,000 working days were lost to strikes in October, the highest since November 2011, official figures from the Office for National Statistics out today reveal. Britain has been hit with a wave of industrial action by railway, postal and health workers sparked by pay and working conditions disputes. Working days lost to staff walk [...]
RMT’s Mick Lynch accuses government of ‘deliberately obstructing’ strike resolution December 13, 2022 RMT union boss Mick Lynch has accused the government of “deliberately obstructing” a resolution with workers. The railway union general secretary said a latest pay offer from ministers was “entirely unacceptable” as it came in “way below” inflation. Today marks the first day of four days of walk-outs by railway workers this week, with strike [...]
Poundland owner Pepco to accelerate plan for new stores as profit booms December 13, 2022 Poundland owner Pepco will accelerate its store rollout strategy as it looks to entice cash-strapped shoppers, after posting elevated profit. The discount retailer said it was taking an increased focus on new stores in Western Europe and a refit programme in Central and Eastern Europe. Pepco was upping its annual capex spend to between €350m [...]
Energy bosses laughing all the way to the bank as Brits face record energy bills amid cold weather December 13, 2022 Millions of British households are expected to rake up record energy bills as have been warned their energy bills may skyrocket over the next few days as the cold weather continues to dominate the UK. It comes as the Met Office and UK Health Security Agency (UKHSA) issued a severe cold weather alert for England [...]
Investors take risk off approach to open busy data and rates week December 12, 2022 Investors ditched risky assets yesterday ahead of a bumper week of global economic announcements before the Christmas break, weighing on London’s FTSE 100. The capital’s premier index shed 0.41 per cent to close at 7,445.97 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell [...]
UK economic bounce back a false dawn as recession still looms December 12, 2022 The UK economy is bouncing back, latest figures show, but economists still expect the country to tip into a record long recession. Gross domestic product (GDP) climbed 0.5 per cent in October, swinging back from a contraction over the summer, the Office for National Statistics (ONS) said today. The figures beat the City’s expectations. London’s [...]
Majestic to freeze wine prices for pubs and restaurants until spring December 12, 2022 Wine seller Majestic has frozen prices for pubs and restaurants until next spring, as the hospitality industry grapples with a tough winter. The country’s largest wine retailer said it would lock its prices for venues until the end of April 2023. Hospitality venues have been struggling with hiked costs across the board with energy to [...]
All quiet on the home front: a resettling is on the cards for new homes and mortgages December 12, 2022 The UK economy has weathered its fair share of turbulent storms over the past few years: from a global pandemic, to war, burgeoning energy prices and now escalating cost of living pressures and interest rates; yet the housing market has remained robust throughout. But rising costs are catching up with potential homebuyers. The next two [...]
UK factories on course to sink into recession next year December 12, 2022 UK factories are on course to sink into recession next year driven by the wider economic slowdown and swelling costs cooling activity, a new survey out today shows. Manufacturing output will shrink 3.2 per cent in 2023, according to Make UK and BDO. The pair have been consistently slashing their forecasts for industrial output throughout [...]