Volkswagen’s boss ‘very concerned’ about EU losing industrial attractiveness November 28, 2022 Volkswagen’s boss Thomas Schafer is very concerned about the EU and Germany losing their industrial attractiveness due to surging energy costs. “We are treading water,” he wrote in a LinkedIn post on Monday. “I am very concerned about the current development regarding investments in the industry’s transformation.” According to Schafer – who has been at [...]
Markets Week Ahead November 28, 2022 Last Week After a slightly mixed week last week not providing much direction, or trading opportunities, we will hopefully get some more viable trade ideas in the coming week. The one big move we did have last week came from the oil market, and we are through the lows again to start the week. Ongoing [...]
Shapps intervention urged to stop energy suppliers ‘finding routes to inflate’ bills for SMEs November 28, 2022 The business minister has been asked to intervene to stop energy suppliers from hiking prices for small businesses. Some small firms have complained that their energy costs continue to climb, despite the government’s energy bill relief scheme. The Federation of Small Businesses (FSB) has written to Grant Shapps to urge him to prevent suppliers from [...]
Retail sales fall off cliff in November in sign of Christmas spending slump November 28, 2022 Retail sales have fallen off a cliff, pushed by consumers reining in spending as scorching inflation eats away at their finances, a new survey out today reveals. A net 19 per cent of retailers said spending fell over the year to November, down from a net rise of 18 per cent in October, according to [...]
UK firms well below EU average for tax roll burden of workers on £30k November 28, 2022 The UK has one of the lowest payroll tax burdens for businesses, with the average cost of employing a worker on £30k being £3,000. A new study by accounting company UHY shows Britain is below the European average, with the cost of keeping a worker in their job being 10 per cent of their salary, [...]
UK economy much more volatile after series of sharp shocks November 28, 2022 The UK economy has become much more volatile compared to three decades ago, a new survey out today reveals. Since the global financial crisis in 2008, the economy has grown much slower compared to the decade and a half in before the catastrophe, according to consultancy BDO. The firm said in the first 15 years [...]
Stabilising the economy depends upon ensuring new start ups stay in our shores November 28, 2022 Tonight I will welcome the Prime Minister, the Lord Chancellor, the Archbishop of Canterbury, the Chancellor of the Exchequer and guests from across the City – and beyond – to Guildhall for the annual Lord Mayor’s Banquet. While the worst of the pandemic is behind us, we are facing the bleakest economic outlook that we [...]
Mark Harper: Inflation-matching pay rises ‘unaffordable’ November 27, 2022 Increasing workers’ salaries to match inflation rates is simply unaffordable, according to transport secretary Mark Harper. “We want to try and give all the workers in the public sector who work very hard decent pay rises, but they can’t be inflation busting,” he told Sky News’ Sophy Ridge on Sunday. Salary increases have been the [...]
Investors hope for US jobs market slowdown to appease Federal Reserve November 27, 2022 Signs of a further slowdown in the US jobs market convincing the Federal Reserve to slow its interest rate hike cycle will top investors’ wish list this week. London’s FTSE 100 index notched a decent showing last week, climbing 1.37 per cent to close at 7,486.67 points, while the domestically-focused mid-cap FTSE 250 index rose [...]
Busiest Black Friday on record as Brits make the most of sales in cost of living crisis November 26, 2022 This year’s Black Friday was the busiest on record, as Brits look to make the most of deals amid the cost of living crisis. The number of purchases jumped on Friday, up 10 per cent in comparison with last year, according to data from Nationwide today. The rate of spending has risen more than a [...]