Inflation jumps to 9.1 per cent: Worried City insiders respond to consumer prices climbing again June 22, 2022 The rate of inflation rose again in May, remaining at 40-year highs, the Office for National Statistics said this morning. The rate of Consumer Prices Index inflation rose slightly to 9.1 per cent in May from 9 per cent in April, according to the ONS. The increase matches what analysts had expected. “Though still at [...]
Cost to rent a home jumps largest-ever amount in past year, says statistics body June 22, 2022 The cost to rent a home has increased by the largest-ever amount over the past 12-months, according to the latest figures from the national statistics body. Average rental prices paid by tenants in the UK has jumped by 2.8 per cent in the year to May, the Office for National Statistics revealed this morning, marking [...]
Uber drivers add to travel chaos after union calls for strike June 22, 2022 Uber drivers have joined the wave of industrial action bringing the country to a standstill today after the App Drivers & Couriers Union (ADCU) called for a 24-hour national strike until midnight tonight.
Welcome aboard, this is a driverless train: unions begin their own demise June 22, 2022 As the summer sun makes the UK feel like a Mediterranean resort, we are also about to see the perils of the labour problems that Southern Europe was so often bedeviled by. Trains have ground to a halt, the London Underground has stopped, and buses are stuck in their depots. Millions of pounds will be [...]
We’re not reliving the 1970s yet, but today’s decisions will keep us out or drag us back June 22, 2022 In the current wave of discontent, rail unions, along with teachers, NHS and other public sector unions, are asking for increases which match inflation. They are still, just about, in single figures and a long way from the 20 per cent-plus of 1975. But only eighteen months previously, at the end of 1973, inflation had still been in high single figures.
‘All I want is a bus service’: Weary Tiverton and Honiton voters go the polls June 21, 2022 “It’s become a national referendum that’s been foisted on Tiverton,” says coffee shop patron Benjamin Barton. “All I want is a bus service, I would be really easily swayed if somebody said ‘we’ll put in a better bus service’.” And so goes the groan of discontent in the Devon town of Tiverton, which is daily [...]
Bank of England’s chief economist Pill sees more rate hikes down the line June 21, 2022 Further rate hikes will be needed to tame the worst inflation crunch in a generation, the Bank of England’s top wonk said today. Huw Pill, who succeeded Andy Haldane as the Bank’s chief economist last September, said at an Institute of Chartered Accountants in England and Wales event that in his view, getting inflation back [...]
UK locks down amid largest rail strike in 30 years – Millions face disruption – Retail footfall slumps June 21, 2022 Train and London tube passengers continue to face travel chaos due to the biggest strike by rail workers for a generation. Brits are urged to work and stay at home today, as road congestion is widely expected. Bolt crashed earlier this morning following a surge in both demand and prices, while the National Rail Enquiries [...]
1 Minute Market Rundown – 21st June 2022 June 21, 2022 US Bank Holiday Quietens the MarketCrypto and Risk Markets Hold InCommodity Prices Begin to Rollover It took it being a US bank holiday but we finally had a quiet day, hallelujah! Equity futures, which were open, pointed higher and as such we saw a pause in the risk sell off. The USD continued to give [...]
Three companies that could avoid inflationary pressures June 21, 2022 Fears of inflation and rising interest rates have hit the global stocks market this week. We look at three companies that could weather the storm. 1. Compass Group’s Compass Group revealed an impressive comeback from the Covid pandemic at its recent results and a share buyback programme. The catering firm plans to return £500 million to shareholders through [...]