City Pub Group: Rail strikes cost us nearly £1m in lost sales January 24, 2023 The City Pub Group reported a boost in trading over the festive period, and said sales would have been stronger if it weren't for the rail strikes.
UK borrowing hits December record of £27.4bn piling pressure on Hunt ahead of March budget January 24, 2023 UK borrowing in December hit its highest total in 30 years driven upwards by the government’s debt interest bill soaring due to raging inflation, official figures out today show. The government took on £27.4bn of debt last month, the largest amount since records began in 1993, according to the Office for National Statistics (ONS). The [...]
Explainer: The case for a social energy tariff January 23, 2023 As a cold snap hits the UK, people are being paid conserve energy in case we (say it quietly) face blackouts. But it has also reignited a debate on social tariffs, with gas prices set to stay high for years to come. It’s freezing. In London last night, it was -5 degrees and you can [...]
New FTX CEO explores restarting exchange as Genesis’ lending unit folds January 23, 2023 Data from CryptoCompare shows that the price of Bitcoin kept on rising over the past seven days, surging to a high near the $23,000 mark.
Recession to be more than twice as bad as first feared, forecasters warn January 23, 2023 The much touted coming recession in Britain will be twice as bad as first feared, new forecasts out today reveal. Soaring prices coupled with the Bank of England’s efforts to tame them are set to deal a heavier blow to GDP than projected just a few months ago. According to the EY Item Club, the [...]
Falling gas prices could slash cost of propping up Bulb Energy by hundreds of millions of pounds January 23, 2023 The bill for propping up Bulb Energy for over a year could be slashed significantly, following a sharp drop in wholesale prices over the winter.
Rishi Sunak and Jeremy Hunt to shun tax cuts in March budget despite £11bn energy windfall January 23, 2023 Jeremy Hunt and Rishi Sunak will hold fire on tax cuts at the 15 March budget despite being handed an around £11bn windfall from international energy prices falling to pre-Russia-Ukraine war levels, according to top economists’ predictions gathered by City A.M. Brits will have to wait until the run up to the next general election, [...]
Technology costs and inflation could drive up price of wind power January 22, 2023 The price of wind power could rise in the coming years, warns Cornwall Insight, as technology comes more expensive
Week ahead: Recession signals to flare up in fresh PMI and government borrowing to hit £18bn January 22, 2023 Investors this week will be eyeing fresh surveys for more clues on whether the UK economy has slipped into recession. London’s premier FTSE 100 index’s strong start to 2023 came off the boil slightly last week, shedding nearly one per cent to close at 7,770.59 points, while its mid-cap domestically-focused peer the FTSE 250 dropped [...]
Starmer tells Davos Labour would ban oil and gas projects, as critics say it jeopardises net zero and energy security January 20, 2023 Labour risks the UK's energy security by calling for no further investment new oil and gas projects in the North Sea, OEUK warned.