Raising a toast: Beer sales return to pre-pandemic glory as pub goers ditch wine and spirits April 4, 2022 Beer sales have brewed a comeback with 1.1bn more pints sold last year than in 2020. Some 4.6bn litres of beer was sold in 2021, up 13 per cent on 2020. Lockdown drinkers opted for spirits, causing beer sales to plummet, but pints regained popularity when pubs reopened. Wine and spirits saw a drop of [...]
Mindset shift may be needed to embrace the riskiest but most rewarding new ideas April 4, 2022 Since the UK’s departure from the European Union, we have not been shy of reviews into the future of the City of London – and how to ensure the Square Mile is the most competitive financial centre in the world. Chief amongst those are the Hill Review into listing rules, and the Kalifa review into [...]
Cost of living squeeze deals financial crisis level blow to Brits’ optimism April 4, 2022 Brits’ optimism is eroding at the fastest pace since the financial crisis amid the tightest cost of living squeeze in a generation, reveals a closely watched survey released today. A combination of inflation scaling to its highest rate in three decades, tax hikes, swelling energy bills and weak wage growth have bound together to deal [...]
Exclusive: Fintech Review author pushes ministers for capital markets overhaul April 4, 2022 The author of a government-commissioned review of fintech has written to ministers warning major reform of the UK’s capital markets is needed if they are to compete on the world stage, City A.M. has learned.
Co-op launches guide to help managers support women going through the menopause April 3, 2022 The Co-op is launching a guide to help its 4,500 managers help women access support dealing with the menopause. The grocer said its own internal research had found that more than half of managers in the UK do not feel confident in supporting a colleague dealing with perimenopause or menopause. A survey of 2,000 adults [...]
Asda chair hammers government for ‘tin eared’ response to cost of living crisis April 3, 2022 The government has delivered a “tin-eared and slow” response to the UK’s cost of living crisis, according to the chair of Asda. Tory peer Lord Stuart Rose said chancellor Rishi Sunak should put together a new package to ease the pain of soaring costs for households, adding that “the main problem that the government has [...]
Russian cyberattacks could cost insurers billions, industry experts warn April 3, 2022 Insurers could be forced to pay out billions to those impacted by cyberattacks following Russia’s invasion of Ukraine. Ambiguous wording in cyber insurance policies could see insurance companies made liable to pay out billions to victims of hacking Insurers may be forced to cover the costs imposed on businesses of paying for ransoms and repairing [...]
Sunak and Javid stand by NI rise days before it comes into place April 3, 2022 Rishi Sunak and Sajid Javid have come out today to outline their support for this month’s hike in National Insurance, despite the growing cost of living crisis. Sunak said the £12bn-a-year increase in health and social care spending, which will come from the tax hike, was a “top priority” for the government. The chancellor said [...]
Axa vows not to appeal ruling over Corbin & King’s £4.4m claim for Covid linked losses April 3, 2022 Axa has said it will not appeal a High Court ruling ordering it to pay out £4.36m to high end restaurateur Corbin & King, after the firm was forced to close its restaurants during the pandemic. The French insurer said it would not appeal the February decision after it initially refused to pay the restaurant [...]
Kremlin provides £919.3m for domestic aviation following West sanctions April 2, 2022 The Kremlin announced today it would provide 100bn roubles (£919.3m) to help the Russian domestic aviation market as the sanctions imposed by the West continue to bite. President Putin said in a televised address that domestic flights should become cheaper for Russian and that the share of Russian-made aircraft should increase. Aviation was one of [...]