Car chain Lookers profits dip as soaring costs throttle jump in sales August 24, 2022 Car dealership chain Lookers has reported a dip in profits for the first half of the year as soaring costs and supply strains offset a jump in revenue to £2.23bn. In a trading update today, bosses said that pre-tax profits fell from £50.4m in the first six months of last year to £49.9m in 2022, [...]
Iceland boss: Absence of government support on energy bills risks job losses and bankruptcy for firms August 23, 2022 Iceland boss Richard Walker has called on ministers to issue more support for businesses struggling with sky-high energy bills. Without a price cap on businesses’ energy bills, smaller firms would surely collapse, the supermarket’s managing director told CityA.M. An absence of further support for businesses was “really serious,” as the colder months approach, Walker said. [...]
Next winter’s energy crisis will be even worse, warns forecaster August 23, 2022 Next winter's energy crisis will be even worse than this year, unless the West makes fresh efforts to tame demand.
Europe’s gas crisis: what does it mean for investors? August 23, 2022 Europe faces high gas prices and potential shortages as supply from Russia dwindles. We ask our investment experts what this means for companies, the energy transition, and the eurozone economy. Europe’s precarious gas supply situation has been a prime focus for markets ever since Russia’s invasion of Ukraine at the end of February. The European [...]
Pubs face winter ‘extinction’ with some facing energy bill spike of 500 per cent August 23, 2022 Pub landlords are facing an “extinction” this winter as a majority of operators said they feared being forced to shut down in the coldest months. Some 65 per cent of publicans said they were likely to close over winter, despite a lucrative Christmas period free of Covid restrictions, when surveyed by industry title The Morning [...]
Energy boss: Millions will suffer without more support for rising bills this winter August 23, 2022 Households will be unable to cope with a huge spike in energy bills this winter unless the Government steps in argued So Energy boss Simon Oscroft.
Inflation surge pushes UK economy to edge of stagnation August 23, 2022 Brits reining in spending amid a historic inflation surge has steered the UK economy to the edge of “stagnation,” a closely watched survey released today shows. S&P Global’s flash composite purchasing managers’ index (PMI), which measures activity across the private sector, dropped to 50.9 this month, down from 52.1 in July. The figures indicate “the [...]
Letters: Mind the gap – if you can see it August 23, 2022 [Re: To attract and retain the best talent, the Square Mile must break down class barriers, yesterday] The diverse make-up of the candidates who stood for the leadership of the Conservative Party leadership should be a cause for celebration. But while the likes of Sunak et al. are reaching the summit of their professions, the [...]
Bulb bailout set to balloon to £4bn by April August 22, 2022 The cost of bailing out energy supplier Bulb Energy could balloon to £4bn by April unless it can be sold sooner. Bulb became the first energy firm to fall into special administration last November, as it struggled with spiralling wholesale costs and the constraints of the energy price cap. But Bulb is currently gobbling up [...]
Inflation has pushed the political vibes into depths Friedman cannot reach August 22, 2022 We are experiencing the politics of feelings, of “vibes”. These may not adhere to strict logic but their power should not be underestimated.