Distribution giant Bunzl reports slip in profits despite boost in revenues February 28, 2022 Distribution giant Bunzl reported a slip in profits today despite revenues rising 1.7 per cent, as its food and retail divisions rebounded from a pandemic slow down.
UK inflation to trend higher as firms hoist prices amid cost barrage February 28, 2022 Inflation will trend even higher in the coming months driven by UK businesses lifting prices to cope with intensifying wage pressures, reveals a fresh survey published today. Nearly half of firms are expecting to hike pay at least one per cent over the coming year, leading to them raising prices to protect margins, according to [...]
Russia-Ukraine conflict to accelerate trend toward de-globalisation, says Goldman Sachs February 27, 2022 The trend toward de-globalisation sparked by the pandemic has been accelerated by the Russia-Ukraine conflict, according to top Wall Street analysts. Countries were already increasingly considering on-shoring supply chains after they were burnt by the Covid-19 crisis disrupting trade flows, according to Goldman Sachs. “No matter where the current crisis goes from here, the damage [...]
Covid-19 pills will ‘allow the UK to fully reopen economy’ as pandemic impacts weigh February 27, 2022 Landmark Covid-19 pills will “allow the UK to fully reopen its economy”, according to analysts, as the impacts of the pandemic continue to weigh on the economy. Companies including famed vaccine maker Pfizer, which has won regulatory approval for its Paxlovid pill, and Merck, have revolutionized the global immunisation process with antiviral pills. “The acceleration [...]
Week ahead: Russia-Ukraine conflict to drive market swings in City February 27, 2022 Wild market swings are expected to characterise the week ahead in the City as investors respond sharply to developments in the Russia-Ukraine conflict. Last week, the FTSE 100 registered its worst day in 20 months on Thursday, the day Russian troops flooded into Ukraine, before staging a comeback on Friday to end the week down [...]
John Lewis ditches ‘never knowingly undersold’ pricing pledge February 25, 2022 John Lewis will ditch its iconic “never knowingly undersold” pricing pledge on the grounds it does not reflect the current retail landscape, as high street stores look to fend off competition from online retail giants.
UK-based Chinese companies suffered from global instability last year, new research shows February 25, 2022 Revenues generated by Chinese companies working in Britain have dropped by almost a third, due to global instability and the impacts of Covid-19, according to new research. Chinese companies employed 61,000 UK residents contributed £63bn to the British economy in 2021, according to new figures from the Tou Ying Tracker. The £63bn in revenues generated [...]
Babcock expects to post a loss this year due to Covid-19 pressures February 25, 2022 British defence contractor Babcock said it expects to record a significant loss in the financial year 2021/22, due to the impacts of Covid-19 on the global economy. The London engineering company said its efforts to manage its costs, in the face of supply chain pressures and soaring inflation, would deliver savings of £20m this financial [...]
Energy prices spike after Russia invades Ukraine February 25, 2022 Russian President Vladimir Putin’s decision to launch a full-blown incursion of Ukraine sent energy prices soaring raising fears the UK's living squeeze will tighten.
‘Perfect storm’ of headwinds crimps UK optimism February 25, 2022 A “perfect storm” of headwinds gripping households with the tightest financial squeeze in a generation is eroding Brits’ optimism, reveals a closely watched survey published today. Concern about the impact soaring inflation will have on household finances drove UK consumer confidence to its lowest level in over a year, plummeting to minus 26 points this [...]