UK jobs market finally flashes cool down signals as hiring slows October 7, 2022 The UK jobs market is finally flashing slowdown signals after running hot for months after the worst of the Covid-19 crisis, a closely watched survey published today reveals. Firms are moderating hiring campaigns in response to concerns over the UK’s weakening economy and a shortage of workers. Britain is on course for a recession as [...]
Construction firms clear backlogs before downturn hits October 6, 2022 Construction firms are clearing a huge backlog of work, but the sector is on course to shrivel in the coming months as it is whacked by soaring interest rates, a closely watched survey published today. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) for the construction industry swung [...]
Nightclubs hit back at killjoy neighbours as sector stares down ‘fight for survival’ October 6, 2022 The nightclub industry is facing a battle for survival after residents have become accustomed to quieter nights after lockdown, according to bosses. Late night venues in the UK have been attacked by an exponential increase in noise complaints, especially in London hubs, the Night Time Industries Association (NTIA) has claimed. Nightclubs were closed from March [...]
Truss ‘giving with one hand and taking with other’ through stealth taxes, IFS says October 6, 2022 Liz Truss is “giving with one hand and taking with the other” by keeping stealth taxes, a new study out today reveals. Some £2 for every £1 returned to Brits in the prime minister and chancellor Kwasi Kwarteng’s tax cutting mini-budget will be lost to “fiscal drag,” the Institute for Fiscal Studies (IFS) said today. [...]
OPEC+ finalises heavy oil output cuts in bid to boost sliding prices October 5, 2022 The world's most influential oil cartel, OPEC+, has agreed to its deepest cuts in production since the pandemic.
Outrageous raging inflation, and the distortion of CPI October 5, 2022 This week, Dr Chris Kacher pours scorn on CPI while speculating on what might happen if quantitive easing is introduced again.
Offshore workers back North Sea strikes over pay dispute October 5, 2022 Hundreds of offshore workers will go on strike for ten days between now and the end of the year following an escalating dispute over pay.
Our politicians must wake up to the public debt effect October 5, 2022 In a novel by C.P. Snow, a physicist turned author who served as science minister under Harold Wilson in the 1960s, the master of a Cambridge college says that “gratitude isn’t an emotion, but the expectation of gratitude is a very lively one.” The prime minister and her Chancellor may well be having exactly the [...]
Aramco boss warns oil markets are still tight despite price slump October 4, 2022 Investors should be focusing on the lack of global spare capacity to boost oil output rather than plummeting demand, argued Aramco.
Kwarteng trashes market bets on earlier OBR report and fiscal plan October 4, 2022 The pound today climbed to its highest level against the US dollar in two weeks despite chancellor Kwasi Kwarteng trashing market expectations of a sooner-than-expected fiscal plan. Sterling surged 0.78 per cent against the greenback to buy $1.141. It has now regained all its losses since Kwarteng’s mini-budget rocked the currency last month. UK borrowing [...]