Rail strike reality check: Train staff halt work again while driver colleagues earn up to £73k per year July 27, 2022 Rail passengers are suffering fresh travel chaos today as 40,000 rail workers are striking, with RMT union members at Network Rail and 14 other train companies walking out over pay and job terms. Disputes in the bitter row over jobs, pay, pensions and conditions are worsening, with more strikes in the coming days, and a [...]
London markets jump ahead of expected big US Federal Reserve rate rise July 27, 2022 London markets shrugged off bets on the US Federal Reserve hiking rate steeply later today to jump during opening exchanges. The capital’s premier FTSE 100 index added 0.43 per cent to reach 7,337.93 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, increased 0.07 per [...]
Reckitt Benckiser announces strong revenue growth as it tackles inflation in the first half July 27, 2022 Reckitt Benckiser reported strong revenues and performance in the first half of 2022 as it continues to tackle the challenging inflationary pressures gripping the global economy. The consumer goods company reported a revenue growth of 8.6 per cent to £3.5bn and saw continued broad-based growth across all of its business units and geographies. Adjusted operating profit [...]
Further price rises loom over shoppers after Coca Cola and Unilever reveal hikes July 27, 2022 Shoppers are set to face further wounding price increases in the coming months, as some of the world’s largest consumer goods giants admit that more cost hikes will be passed on to shoppers. Retail chiefs have warned more price increases are on the way, with the British Retail Consortium (BRC)’s Helen Dickinson admitting households and [...]
Stop throwing around cash promises and cut red tape July 27, 2022 THE Conservative party leadership candidates agree that the British economy is in dire straits. Inflation is biting incomes, growth is stagnant while public services are faltering. In response, Liz Truss backs a bold new approach encompassing supply-side reforms, while Rishi Sunak promises a “radical set of Thatcherite reforms that will unleash growth and strengthen our [...]
FCA reveals major consumer regulation shake-up but delays deadlines after industry protest July 27, 2022 The UK’s top financial watchdog has revealed its plans to tighten protections for consumers today in the biggest package of regulatory reforms to hit the City in a decade.
IMF economy warning reverses FTSE 100 gains despite Unilever’s best efforts July 26, 2022 A bleak set of projections from the International Monetary Fund (IMF) pegging UK growth as the worst in the G7 weighed on London markets today. The capital’s premier FTSE 100 index remained unchanged, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 1.18 per cent [...]
UK sinks to bottom of G7 growth league amid global economic downturn July 26, 2022 The global economy could be hurtling toward one of the sharpest slowdowns in recent memory, with the UK plummeting to the bottom of the G7 growth league, the International Monetary Fund (IMF) warned today. A full shut off of Russian gas flows to Europe and more upside inflation shocks would plunge growth into among the [...]
Searches for ‘Cancel Amazon Prime’ skyrocket 537 per cent after company hikes UK price from £79 to £95 July 26, 2022 Following Amazon’s announcement that it is increasing the price of their Amazon Prime subscription, searches for ‘Cancel Amazon Prime’ increased 537 per cent today. Searches to cancel Amazon Prime subscriptions skyrocketed after it was announced Amazon are increasing the monthly cost of Prime from £7.99 to £8.99, the first price increase since 2014, cybersecurity firm [...]
UBS profits drop below expectations July 26, 2022 A sharp fall in profits at UBS’s investment banking division caused by charges to deal with the fall out of the collapse of Bill Hwang’s Archegos Capital and tumbling global stock markets has raided the Swiss lender’s bottom line. UBS profits sank around $100m (£83m) over the last year to $2.1bn (£1.7bn), it announced today, [...]