High street spending slumps amid retail’s Covid recovery October 6, 2022 The high street’s Covid recovery has been slowed by the economic slump, with shoppers cutting back on shopping sprees last month. According to freshly published statistics from Springboard, the recovery of retail footfall slowed for the third month in a row. Footfall increased just 6.8 per cent, compared to a 15.6 per cent boost in [...]
Nightclubs hit back at killjoy neighbours as sector stares down ‘fight for survival’ October 6, 2022 The nightclub industry is facing a battle for survival after residents have become accustomed to quieter nights after lockdown, according to bosses. Late night venues in the UK have been attacked by an exponential increase in noise complaints, especially in London hubs, the Night Time Industries Association (NTIA) has claimed. Nightclubs were closed from March [...]
Truss ‘giving with one hand and taking with other’ through stealth taxes, IFS says October 6, 2022 Liz Truss is “giving with one hand and taking with the other” by keeping stealth taxes, a new study out today reveals. Some £2 for every £1 returned to Brits in the prime minister and chancellor Kwasi Kwarteng’s tax cutting mini-budget will be lost to “fiscal drag,” the Institute for Fiscal Studies (IFS) said today. [...]
Pound snaps winning streak against US dollar after Truss conference speech October 5, 2022 The pound slumped against the US dollar today, slicing some of the gains it has made since the currency collapsed after Kwasi Kwarteng’s mini-budget last month. Sterling weakened as much as two per cent against the greenback. It was down against the euro too. The world’s major currencies have tumbled against the dollar this year. [...]
Outrageous raging inflation, and the distortion of CPI October 5, 2022 This week, Dr Chris Kacher pours scorn on CPI while speculating on what might happen if quantitive easing is introduced again.
Offshore workers back North Sea strikes over pay dispute October 5, 2022 Hundreds of offshore workers will go on strike for ten days between now and the end of the year following an escalating dispute over pay.
Liz Truss’s Tory Conference speech: The PM’s claims and statements fact-checked October 5, 2022 At the Conservative Party conference earlier today, Prime Minister Liz Truss gave her keynote speech, talking about her upbringing, the economic climate, and healthcare. Full Fact offered to fact check the different claims and statements for City A.M. “I stand here today as the first Prime Minister of our country to have gone to a [...]
UK real estate market particularly vulnerable to value crash, says Moody’s October 5, 2022 The UK real estate market is one of the most vulnerable in Europe to an imminent crash in value, according to a recent note by US investment giant Moody’s. “Markets with greater short-term fixed or variable rate borrowing, like the UK and Sweden, are at greater risk of a more sizeable correction,” the note said [...]
UK’s pension crisis could be repeated abroad, analysts warn October 5, 2022 The crisis that rocked the UK’s pension funds last week could soon be repeated overseas due to proliferation of so-called liability driven investment (LDI), analysts have warned.
London’s IPO slump continues as firms raise £565.5m October 5, 2022 Cash raised through initial public offerings in London plunged by more than seven times in the third quarter of the year as the Capital continues its barren run amid soaring inflation and market volatility.