Nearly half of all Brits fear inflation may rise more than Bank of England prediction March 9, 2022 About two-fifths of people polled recently have a more pessimistic view about rising inflation than the Bank of England, it has been revealed. Despite the Bank’s prediction of a seven per cent spike in Spring, 39 per cent of respondents to a survey by HR software provider CIPHR thought it would be eight percent or [...]
As government debt jumps to fund defence spending, our economy will pay the price March 9, 2022 Sanctions will clearly hit the Russian economy very hard. But economic prospects for the West are not exactly rosy. Twice in the 1970s and again in the early 90s, there were rapid spikes in oil prices; each instance was followed by economic recessions. The deep recession following 2008 was, of course, due to financial causes [...]
Inflation to accelerate far ahead of Bank of England’s target as rate hikes loom March 8, 2022 Inflation in the UK will soar far above the Bank of England’s target this year as the Russia-Ukraine war drives energy prices to record highs. Accelerating prices will hit “almost all businesses and consumers” this year and choke economic growth, Thomas Pugh, an economist at RSM, warned today, adding that the cost of living could [...]
Direct Line profits suffer as insurance giant weathers ‘challenging market’ March 8, 2022 Insurer Direct Line reported humble growth this morning as the group feels the sting of inflation. Whilst operating profit increased to £582m, driven by an increase in underwriting, its profit before tax of £446m was £5.4m lower than 2020. The focus seemed to be on cost cutting for Direct Line; the firm reduced its operating [...]
Ashtead weathers pandemic storm with revenue on the up March 8, 2022 Industrial equipment group Ashtead beat market expectations for its third quarter this morning, with revenue up 23 per cent, and rentals booming 25 per cent. The owner of Sunbelt Rentals in the UK, USA and Canada made significant investment in the past year, including $1.7bn (£1.3bn) in capital in the last quarter, with 81 locations [...]
Greggs full-year sales surpass pre-Covid levels as analysts caution price rises March 8, 2022 Greggs full-year sales have surpassed pre-pandemic levels, as the bakery chain restarts its colleague profit-sharing scheme, which will see £16.6m shared with staff. Total sales rose 5.3 per cent to £1.2bn, in comparison with 2019’s figure of £1.1bn, preliminary results for the year to 1 January revealed this morning. It comes as the bakery chain rewards [...]
Russia-Ukraine war to deliver £90bn blow to UK economy March 8, 2022 Russia’s war with Ukraine will deal a £90bn blow to the UK economy driven by a worsening cost of living crunch sending the British consumer into retreat, reveals fresh forecasts published today. Soaring energy prices as a result of Moscow sending troops in Ukraine will feed already historic high inflation in Britain, heaping even further [...]
AUDT token makes its debut on Bittrex Global March 8, 2022 Auditchain Labs AG announced that Bittrex Global will add support for the AUDT - USDT pair tomorrow (March 9) from 4pm.
Asset manager M&G rolls out £500m buyback after smashing capital targets March 8, 2022 British insurer and asset manager M&G unveiled a £500m share buyback programme today after it smashed capital generation targets set out following its demerger from Prudential in 2019.
Wheat price rallies could hurt hospitality and cause food prices to spike warn industry leaders March 8, 2022 Hospitality and supermarkets could bear the brunt of rocketing record prices following Russia's invasion of Ukraine.