Craft breweries battered by soaring operational costs June 5, 2023 Soaring operational costs and a greater competition between brands have battered the UK’s brewery industry with the number of beer factories going under tripling over the past year. The number of breweries which have become insolvent has risen from 15 to 45 over the last year, new figures out from audit, tax and advisory firm [...]
Euro inflation slumps faster than expected to 6.1 per cent leaving UK further afield June 1, 2023 Inflation in Europe is falling much faster than expected, further marking Britain out as suffering the toughest price pressures in the developed world. The rate of price increases in the 20 countries using the euro dropped to 6.1 per cent last month, down from seven per cent in the previous month, according to eurostat. That [...]
Pennon Group swings to loss in “extraordinary year” as pressure mounts on water industry June 1, 2023 Water company Pennon Group swung to a pretax loss in 2023 due to rising costs as the water industry faces pressure to clean up its act . The owner of South West Water reported a pretax loss of £8.5m, swung from a profit of £127.7m last year as costs increased by over £100m in the [...]
HSBC launches £15bn SME fund amid cost of living crisis with £3bn available in London June 1, 2023 HSBC has launched a £15bn fund dedicated to financing the survival and expansion of small and medium-sized enterprises (SMEs) across the country. The £15bn fund, which equals the largest SME fund HSBC has launched, is available to businesses across the country, with £3bn put aside for SMEs in London. Across sectors, £2bn will be allocated [...]
Bumper Bank Holiday drives footfall levels up June 1, 2023 Bumper bank holidays in May helped hike footfall levels as work-free Brits flocked to the high streets to drink and shop in a welcomed boost for businesses. Footfall over the last month climbed 3.6 per cent, the second month in a row in which levels have risen following a 3.3 per cent jump in April, [...]
National Grid looks for supply chain partners to deliver £9bn renewable ramp up May 31, 2023 National Grid is looking for more supply chain partners to help deliver a vast ramp up in clean energy infrastructure.
Bank of England to surpass Federal Reserve and hike interest rates to 15-year high May 31, 2023 The Bank of England will have to hike interest rates to their highest level in more than 15 years to tackle sticky inflation that will stay above its target for at least another three years, a top Wall Street investment bank has warned today. Researchers at Goldman Sachs suspect businesses will carry on passing on [...]
Paddington bare: Rail strikes clear London hub as passengers frustrated before derby day chaos May 31, 2023 Rail passengers are suffering fresh travel disruption because of more strikes in long-running disputes over pay, jobs and conditions. Members of the drivers’ union Aslef walked out on Wednesday, meaning several operators such as Avanti West Coast, CrossCountry, Northern and Thameslink are running no trains. The union’s general secretary Mick Whelan said no negotiations aimed [...]
North Sea oil and gas projects essential to UK’s energy future, warn academics May 31, 2023 Halting future investment in North Sea oil and gas projects jeopardises the UK's supply security and net zero ambitions.
Inflation to top Bank of England target until at least 2026, Goldman Sachs warn May 30, 2023 Inflation in the UK is set to top the Bank of England’s target for at least the next three years, likely forcing governor Andrew Bailey and co to tip the country into recession via yet more interest rate rises, a top Wall Street bank has warned. Researchers at Goldman Sachs late last night hiked their [...]