Boost energy efficiency to tackle climate change, says Schneider Electric November 8, 2022 There needs to be more of a focus on less exciting parts of the green transition, argued a leading analyst at Schneider Electric.
UK economy to emerge from recession 10 per cent smaller than pre-Covid path November 8, 2022 The UK economy will be 10 per cent smaller compared to its pre-Covid growth path after the Bank of England’s forecasted two year recession, a top Wall Street bank has warned. JP Morgan said in a note to clients Britain is on course to miss out on a large chunk of much needed economic growth [...]
Bank of England not to blame for looming record recession, chief economist stresses November 8, 2022 The Bank of England is not to blame for the UK fumbling into the longest recession since records began and rate setters are not “inflation nutters,” its chief economist said today. Huw Pill, who replaced Andy Haldane last year as Threadneedle Street’s top wonk, said the UK’s slowdown is being “driven by other forces” beyond [...]
Primark owner takes £1bn extra inflation hit amid ‘most challenging’ economy for many years November 8, 2022 Primark owner Associated British Foods (ABF) saw inflationary costs leap by £1bn this year alone, as it weathers “highly volatile” economic conditions and hopes to retain shoppers with its low prices. The chairman of the fashion and food business, Michael McLintock, said ABF had “encountered the most challenging economic conditions for many years with sharply [...]
Letters: Pick your own problems November 8, 2022 [Re: Let’s be honest, we need to fix the Channel crisis if we want positive immigration, November 3] Unlike Matthew Lesh I do not see the need for more migrants to pick produce. 17,410,742 people voted Leave, couldn’t they pick the produce. Colin Price [Re: Net zero won’t come cheap, but the impact of floods [...]
Hunt looks at business rates ‘cliff edge’ ahead of fiscal statement November 8, 2022 Jeremy Hunt will make a tough decision on planned business rates hikes next week as business groups warn of “an existential threat” coming in April. British firms are facing a near £3bn annual hike in business rates next year if inflation stays above 10 per cent, according to Altus Group. Commercial properties will have their [...]
British households have been worst affected by economic downturn within OECD November 7, 2022 British households have been worst affected by the global economic downturn amongst richer nations according to new figures released today. The United Kingdom GDP’s since the fourth quarter of 2019 dropped to -1.2, the lowest out of the seven nations, while its real income fell by -3.5, also the lowest. The figures were published by [...]
North Sea industry set to be dominated by major oil and gas players November 7, 2022 The North Sea will become dominated by oil and gas majors, revealed forecasting specialist Welligence Energy Analytics.
Strikes another blow to struggling City hospitality businesses November 7, 2022 Small business owners have said they are struggling to survive as postal workers are set to walk out and amid the looming threat of rail strikes. Matt Harris, 49, who runs wine bars Planet Of The Grapes and Fox Fine Wines in London, said that strike action is just “another dagger” for already struggling hospitality [...]
The West faces copper crisis as China dominates key markets November 7, 2022 The West has fallen behind rivals such as China in the race to secure copper supplies, warns a leading expert.