Families facing ‘groundhog year’ in 2023 as living standards to be squeezed December 30, 2022 Families are facing a “groundhog year” as further squeezes on living standards take place in 2023, a think-tank has warned. While the year ahead may offer economic policymakers some relief, with signs inflation will ease and interest rates peak lower than feared, family finances face a repeat of 2022’s squeeze as the cost-of-living crisis deepens, [...]
2023 set to be just as ‘horrendous’ as 2022 with falling pay and soaring energy bills December 30, 2022 Next year looks set to be just as “horrendous” for many families’ living standards as this year, as they are hit with falling pay and soaring energy, tax and mortgage bills, a think tank has warned. Households face a cost-of-living “groundhog year” with disposable incomes plummeting even further than in 2022, which saw the biggest [...]
House price growth falls for fourth consecutive month, worst run since 2008 December 30, 2022 House prices have plummeted for the fourth consecutive month by 2.8 per cent in December, the worst run since the financial crisis of 2008. Nationwide’s latest House Price Index shows this month proved to be another sharp slow down in growth down from 4.4 per cent in November. House prices fell by 0.1 per cent [...]
EXCL – Majestic Wine’s CEO John Colley on why 2022 will go down as the year of fizz December 29, 2022 Two years ago Majestic Wine went private, under the ownership of Fortress Investment. As a private entity, the company has enjoyed two years of transformation and the results have not gone unnoticed in the City: record growth and record sales. The Watford-based wine giant also opened a number of new branches and undertook a turn-around plan whilst [...]
The year in City A.M. front pages December 28, 2022 As 2022 comes to a close, we look back on how the turbulent last 12 months were reported on from our very own newsroom. It would be fair to say the last year has been a tumultuous one. It started with the ending of pandemic restrictions and the onset of a cost of living crisis. [...]
From strikes to Avanti West Coast: Here the top five things to look out for in rail next year December 28, 2022 Railway has taken centre stage in the UK public discourse as the tug of war between unions and train operators over the past six months has led to unthinkable misery to millions of people and businesses. Rail minister Huw Merriman said last month the walkouts had cost the UK economy £500m, while hospitality and retail [...]
Insulating our leaky homes now would be a sensible investment for this Conservative government to make December 26, 2022 As Rishi Sunak stood in Downing Street after becoming prime minister, he made a major promise. “The government I lead will not leave the next generation, your children and grandchildren, with a debt to settle that we were too weak to pay ourselves”, he said. That’s why the recent announcement from the Chancellor to make [...]
As cyber risk intensifies, insurers must offer a better market to companies in need of protection December 26, 2022 From rising inflation to Russia’s invasion of Ukraine, this year has yet again demonstrated the domino effect that occurs following a crisis, and the impact this has on businesses. There are many lessons to be learned as we move into the new year. If we take the war in Ukraine, the geopolitical crisis triggered sanctions [...]
The Christmas Day Quiz: City A.M. tests out your grey matter December 24, 2022 It’s the Christmas Quiz you’ve been waiting for! Each year City A.M. publishes Deloitte’s economics team’s festive brainteasers, produced as part of their regular Monday briefing. Grab a pen – the answers are at the bottom, and come packed with plenty of extra details… 1. The nineteenth century Scottish historian and philosopher Thomas Carlyle dubbed [...]
Pubs closing down: Crisis for industry as more than one a day shuts doors December 24, 2022 More than 32 pubs disappeared from communities in England and Wales each month in 2022 as rocketing energy bills and staffing pressures forced businesses to shut for the final time. New analysis of official government data by real estate adviser Altus group found the overall number of pubs slid by 386 during the year. The [...]