It’s time to stop obsessing with the price of Bitcoin and look to the future June 24, 2022 The future is being built and it’s being built by some of the most passionate and focussed people you’ll ever meet, says Jason Deane.
Explainer-in-brief: Why paper bank notes are finally on the out June 24, 2022 Hear, hear: we all have 99 days left to use our £20 and £50 paper banknotes before they’re out of the market. Why is the Bank of England taking these notes away? The OId Lady says paper notes are easier to counterfeit than plastic ones, so it’s time to get rid of them. Plastic ones [...]
Retail sales volumes fell last month as the cost of living crunch eats into April’s gains June 24, 2022 Retail sales volumes fell by 0.5 per cent last month, according to the latest figures, as the cost of living crisis eats away at gains made in April. While the figures suggest current inflation levels and concerns over a recession have Brits’ pinching their purse strings, sales volumes were 2.6 per cent above pre-pandemic levels, [...]
Bloom & Wild boss confident of blossoming growth despite cost of living crunch June 24, 2022 The co-founder of Bloom & Wild chats to CityA.M. about international acquisitions, venturing into physical retail and why, despite a cost of living crunch, demand for flowers is still growing. After launching in 2013, Aron Gelbard and Ben Stanway’s letter-box florist has reaped the rewards of an acceleration towards online amid the pandemic. Last year, [...]
The Roman Empire has a lesson for Andrew Bailey on devaluing a currency June 24, 2022 Winston Churchill once said: “The farther back you can look, the farther forward you are likely to see.” Those words apply to many aspects of our lives, not least economics. The past few weeks have seen the pound slump in value. In May alone, it fell by around eight per cent on its year-on-year value [...]
Cocktail of problems plunge UK consumer confidence to record low June 24, 2022 A relentless cost of living crunch, the prospect of a recession and stagnant wage growth has driven British pessimism to new highs, reveals a closely watched survey published today. UK consumer confidence dropped to minus 41 points this month, down marginally from minus 40 in May, the lowest reading recorded by research firm GfK since [...]
Letters: Home ownership isn’t everything June 24, 2022 [Re: Government admits most Brits will not benefit from Boris Johnson’s ‘benefits to bricks’ housing plans, June 22] In essence, the idea is positive but, in practice, it’s not currently feasible. Take for example the government’s plan to allow people on housing benefits to use welfare payments towards a mortgage. Welfare payments stop when a [...]
Second day of rail strikes send Trainline tumbling as FTSE 100 dips June 23, 2022 A second day of railway worker strikes sent shares in ticket booking platform Trainline tumbling as London’s top indexes dipped today. The capital’s premier FTSE 100 index dropped 0.97 per cent to 7,020.45 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 1.05 per [...]
Britons lose £5k a year during lost decade of productivity growth June 23, 2022 Workers have lost an average of £5,000 every year over the last decade due to the UK’s meagre productivity growth, reveals a new report published today. Britain’s productivity growth has lagged the rest of the G7 “throughout much of the post-war period, which seems to indicate a deep structural problem,” according to the National Institute [...]
Shares plunge for Naked Wines after bleak sales guidance warning June 23, 2022 Naked Wines’ shares tumbled by around 40 per cent on Thursday after the online wine retailer warned its sales would take a hit this year. The London-listed retailer cautioned its shareholders that sales could plunge by as much as four per cent in the year to the end of March. Naked Wines would “not pursue [...]