Cost of living grip tightens as wages trail rampant inflation April 12, 2022 The cost of living crunch is tightening its grip on Britons’ living standards in a further sign that the UK economy is hurtling towards a period of slow growth. Fresh figures published by the Office for National Statistics (ONS) today reveal pay is lagging far behind inflation, meaning households are unable to buy the same [...]
All Lloyd’s of London staff at home today as army of 60 climate activists descend on insurer’s iconic City office April 12, 2022 Lloyd’s of London asked all its employees not to come to its offices in the City this morning, the company told City A.M. Extinction Rebellion have blocked entrances and remain on the roof of the Lloyd’s Building to demand the financial giant stops insuring coal, oil, gas and tar sands that are “fuelling the climate [...]
Financials drive London lower as Paris boosted by Macron-Le Pen face off April 11, 2022 Sharp losses among financial stocks drove London’s top indexes lower yesterday. The capital’s premier FTSE 100 index lost 0.7 per cent to fall to 7,615.79 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.35 per cent to 21,099.50 points. Insurers, fund managers and [...]
Tory backbencher calls on government to close ‘loopholes’ letting London firms work for the Kremlin April 11, 2022 Tory backbencher Kevin Hollinrake has called on the government to close the “loopholes” that have allowed UK professional services firms to continue carrying out bankruptcy proceedings on behalf of the Russian state. In a letter to Rishi Sunak, the Conservative party MP accused accountancy giant Grant Thornton, litigation funder Harbour, and London law firm CMS [...]
Shares in Asia focused companies dip as Chinese inflation soars April 11, 2022 Shares in London listed companies with Asia focused businesses dropped today after Chinese government data showed outbreaks of Covid and the war in Ukraine had caused inflation in China to soar. The dips come after figures from China’s National Bureau of Statistics (NBS) showed factory gate prices are up 8.3 per cent compared to [...]
London lawyers expect boom in legal disputes on the back of Brexit and Covid-19 April 11, 2022 London litigators are readying themselves for a new wave of litigation lawsuits on the back of Brexit and Covid-19. In a survey carried out by the London Solicitors Litigation Association (LSLA), 84 per cent of lawyers polled said they expect a surge in the number of Covid related contractual disputes. Another 70 per cent of [...]
Drivers warned about busiest Easter on record as 21.5 million journeys planned April 11, 2022 Drivers were told to brace for the busiest Easter on record, as an estimated 21.5 million trips will be made over the bank holiday. According to automotive insurance company RAC, this year will be the busiest since it started recording traffic data in 2014. “After two years of relatively quiet Easter bank holidays on the [...]
UK economy ambles into period of sluggish growth April 11, 2022 The UK economy has entered what is expected to be a protracted period of sluggish growth, official figures released today reveal. The early signs of inflation and tax hikes dealing a heavy blow to Brits’ spending are emerging in new GDP figures published by the Office for National Statistics (ONS) today. The economy grew just [...]
London cost of living soars as firms raise prices amid inflation crunch April 11, 2022 Londoners’ cost of living is rising rapidly driven by the capital’s firms hiking prices at the quickest pace ever to stay afloat amid swelling costs, reveals a closely watched survey released today. Businesses across the capital and the UK are being stung by a higher tax burden and swelling operating costs on top of trying [...]
National insurance hike sparks wave of job cuts April 11, 2022 Businesses have unleashed a wave of job cuts to cope with being hit by the national insurance hike, reveals fresh research released today. The pipeline of redundancies has taken off in the last month alone, triggered by firms scrambling to protect their bottom lines ahead of a series of damaging tax rises. The number of [...]