No break for Brits as inflation pushes the cost of kitchen staples by 80 per cent April 18, 2023 Brits are yet to receive a break from soaring food prices as the price of cheddar cheese, sliced white bread and porridge oats are up to 80 per cent more expensive than a year ago. As inflation reached record highs due to the war in Ukraine, consumers were forced to fork out more for kitchen [...]
Retail groups call for business rates reform to save Britain’s high streets April 17, 2023 Retail and hospitality groups have called for urgent reform of business rates, which are contributing to shop closures and job losses. “Retail accounts for 5 per cent of the economy but pays more than one-fifth of business rates,” Helen Dickinson, British Retail Consortium (BRC) chief executive, said. “The overall industry tax take is unsustainably high [...]
Bank of England won’t cut interest rates until Christmas but UK to avoid recession April 17, 2023 The Bank of England is poised to cut interest rates at Christmas, lured into the decision by inflation falling rapidly over the course of this year, new forecasts that also say the UK will dodge a recession out today claim. Governor Andrew Bailey and his team of economists are tipped to launch the first rate [...]
Our measure of productivity should be how much energy it takes to create new growth April 17, 2023 If the UK and Europe want to compete with Joe Biden's massive package of incentives for green energy, we need drastically change how we talk about productivity, writes Martin Rossen
Unemployment must be higher to keep a lid on inflation, Bank of England’s Huw Pill claims April 13, 2023 A greater proportion of the UK population than before the recent series of economic shocks may need to be unemployed in order to keep a lid on inflation, the Bank of England’s chief economist has claimed today. Huw Pill, who succeeded Andy Haldane as the Bank’s top wonk, was speaking at an event hosted by [...]
Tesco hit by inflation and supermarket war with Aldi and Lidl as profit down almost seven per cent April 13, 2023 Tesco, Britain’s biggest supermarket, was hit hard by consumers tightening their belts during the cost of living crisis, as it reported its operating profit was down almost seven per cent on last year. The London-listed chain said its profit was £2,6bn for the year to the end of February which was down 6.9 per cent [...]
Government risks higher wind power prices as industry slams lack of funds for auction round April 12, 2023 The latest ongoing auction window for offshore wind projects could result in higher generation prices and a shortage in bidders.
IMF: UK economy to toy with recession this year – and fall to the bottom of global growth leaderboard April 11, 2023 Britain is steering toward the bottom of the G7 economic growth table this year and will toy with a recession for most of 2023, the world’s economic watchdog warned today. UK gross domestic product is tipped to shrink 0.3 per cent per cent in 2023, the weakest performance of any economy in the group of [...]
Why Las Vegas’ El Cortez hotel in ‘Old Vegas’ is the city’s best stay April 11, 2023 The El Cortez hotel’s recent renovation shows how Las Vegas is finally celebrating its history, says Adam Bloodworth If you thought the Las Vegas Strip was nuts, try Downtown Las Vegas, which one local tells me has recently adopted the nickname of ‘Drowntown.’ “Growing up here, everything is crazy,” he says, his expression suggesting he’s [...]
How can PropTech help with the ‘S’ and ‘G’ in ESG? April 11, 2023 Unless you’ve been living under a rock for the past couple of years, you’ve probably noticed that everyone is talking more and more about ESG. ESG stands for environmental, social and governance, and these criteria are pivotal to the way today’s businesses operate. It’s all about a company’s business model and how its products and [...]