650k retail jobs lost in the past five years amid fears of unfair high street tax bills ahead June 13, 2022 Some 650,000 retail jobs have been lost in the past five years, as the high street comes under threat once more with consumer spending dropping amid historic inflation. The Centre for Retail Research has found that some 645,204 retail jobs have been lost and 72,580 stores closed across the UK since 2017. High street heavyweights [...]
CBI: Government must act now on economy to prevent recession June 13, 2022 Urgent action is needed from the government to revive growth otherwise the UK will plunge into a recession. That’s the warning today from the Confederation of British Industry (CBI), the country’s biggest business group. Without a fresh package of measures before the summer parliamentary recess to boost business confidence, a recession will be “a very [...]
London retains crown as Europe’s top city for foreign financial services investment June 13, 2022 London has retained its crown as Europe’s most attractive city for foreign financial services investment as investors shrug off Brexit concerns and continue to pump cash into the capital, a new survey has revealed.
UK tech investment hits £12.4bn as private firms buck volatility June 12, 2022 The amount of cash pumped into British tech firms surged beyond that of China in the first five months of the year as private British tech firms bucked the volatility that has rocked publicly listed tech stocks.
Tesco to reveal consumer spending habits with update this week June 12, 2022 Supermarket giant Tesco is set to shed more light on how customer spending is holding up as shoppers deal with rapidly increasing food inflation. The UK’s biggest grocer will reveal how trading has performed over the three months to May when it updates shareholders on Friday June 17. Tesco has been resilient despite pressure on [...]
New Chinese lockdowns and inflation drives down oil prices ahead of trading this week June 12, 2022 Oil prices dipped last week, after US consumer prices rose more than expected and China imposed more restrictions on millions of people.
Bank of England splurges £200,000 on defining mission statement June 12, 2022 The Bank of England has splurged more than £200,000 on consultants to define its mission statement as it looks to tempt in talent and regain confidence amid a wave of criticism over its handling of soaring inflation
Biden hits out at Big Oil’s record profits as White House fails to tame inflation June 12, 2022 US President Joe Biden called on ExxonMobil to drill for more oil and pay higher taxes in a stunning broadside on the US oil industry.
More Brits than ever dissatisfied with Bank of England’s performance June 11, 2022 More people in the UK than ever are dissatisfied with the Bank of England’s efforts to tame the cost of living, a closely watched survey published today reveals. Just one in four Brits are happy with governor Andrew Bailey and co’s performance, the weakest level since records began in 1999, according to data from pollsters [...]
US inflation smashes expectations in sign Fed will waive through further steep rate hikes June 10, 2022 US inflation has smashed expectations in a sign the Federal Reserve will waive through a series of steep and rapid rate hikes to prevent high prices from embedding in the American economy. Prices climbed 8.6 per cent over the last year, higher than Wall Street’s forecasts of 8.3 per cent, according to fresh figures published [...]