UK to avoid recession but inflation won’t return to Bank of England target until end of next year April 28, 2023 Britain is poised to dodge a recession this year, but inflation will not return to the Bank of England’s two per cent target until the end of next year, new forecasts out last night revealed. The fresh projections from consultancy PwC add to the growing body of organisations who have canned their prediction that the [...]
Explainer: The long tail of the cost-of-living crisis April 27, 2023 With one in five young adults simply not paying at least one bill to make ends meet, inflation could dent their prospects for years to come.
Sainsbury’s profits takes inflation and cost of living hit as supermarket faces stark choice April 27, 2023 In its full year results for the year ending 4 March 2023, Sainsbury’s pre tax profits fell from £854m to £327m as the retailer battled to keep its pole position as one of the UK’s largest supermarkets. The supermarket giant said it was impacted by non-cash asset impairments, driven by a higher discount rate, and [...]
National Grid told to hurry up as solar projects face 15 year waiting times April 26, 2023 National Grid needs to speed up waiting times for new energy projects, or the UK risks failing to meet its solar power targets.
Bank of England’s Huw Pill: Brits ‘need to accept’ they’re poorer April 25, 2023 Bank of England's chief wonk says Brits need to accept they're poorer - or risk stoking further price hikes
Nearly every UK business struggling to fill roles amid worker exodus April 25, 2023 Nearly every business in the UK is struggling to hire staff in a sign that the country’s slimmer workforce since the pandemic is pegging back growth, a new survey out last night indicated. Some 80 per cent of 5,000 firms surveyed by the lobby group the British Chambers of Commerce (BCC) said they ran into [...]
Not funding Sizewell C risks UK’s green ambitions, nuclear industry warns April 24, 2023 The nuclear industry has pushed the environmental benefits of Sizewell C amid reports the project is struggling to lure UK investors.
Prezzo shuts 46 branches including four in London as 810 jobs put at risk April 24, 2023 Prezzo will shut 46 loss making sites across the UK including three in London and place 810 workers at risk of redundancy, as soaring energy and a hike in food costs rattle the business. The Italian restaurant chain, which is owned by private equity firm Cain International said that the closures will impact sites where [...]
Services sector reaches 13-month high but UK growth ‘lopsided’ as consumers raid the storecupboard April 21, 2023 Growth of Britain’s services sector has reached a year-high in April, a closely watched survey has revealed. Figures released this morning in S&P Global/CIPS flash UK purchasing managers’ index, show output rose to 53.9 in April from 52.2 in March. The survey showed that private sector growth had increased for the third consecutive month, beating [...]
UK economy in ‘early stages of recovery’ as families shrug off inflation and interest rate hikes April 21, 2023 Britain’s economy could be in the early stages of a recovery, with consumers holding up pretty well under the pressure of high inflation and interest rate increases, a closely watched survey out today indicates. Families’ outlook on how well the economy will perform over the coming year is improving, while confidence in their own personal [...]