A windfall tax raised by a money-hungry government will scare off our businesses June 8, 2022 Rishi Sunak’s windfall tax on energy firms – what he called a “temporary targeted profits levy” – has gone down well with voters. The tax makes it look like money is raised from someone else and given to them through subsidies to their bills. Despite claims that the tax will yield an additional £5bn in [...]
Union announces three-day rail strike at end of June June 7, 2022 The RMT union announced that its anticipated rail strike will take place over three days at the end of the month. Tens of thousands of railway workers will walk out on 21, 23 and 25 June following failed negotiations with Network Rail and 13 other operators. The union announced that London Underground workers will strike [...]
Service sector dealt hammer blow as cost of living crunch sinks in June 7, 2022 The UK service industry was hammered last month, posting its worst performance for more than a year, as soaring inflation weighed down consumer demand. The closely-watched IHS Markit/CIPS UK services PMI survey scored 53.4 last month, tumbling from a 58.9 reading in April. Any score above 50 shows growth in the sector. However, this represented [...]
Wealth Managers and the Future of Trust: Insights from CFA Institute’s 2022 Investor Trust Study June 7, 2022 Corporate responsibility is more important than ever. Today, many investors expect more than just profit from their financial decisions; they want easy access to financial products and to be able to express personal values through their investments. Crucial to meeting these new investor expectations is trust in the financial services providers that enable investors to [...]
Sunak says £15bn cost of living package will only add to inflation ‘minimally’ June 6, 2022 Rishi Sunak has moved to assure people that the £15bn cost of living package he recently announced will only “minimally” add to the UK’s inflationary pressures. The chancellor today told Westminster’s Treasury Select Committee that he had been careful “to make sure fiscal policy was responsible in that context”. The chancellor last month performed a [...]
Doceo market insights- Chips & Stout: How investment trusts can protect against inflation June 6, 2022 The promise This article will explain how an extra-large portion of chips and the finest Stout is just one of a number of strategies being deployed by investment trusts to tackle the threat of a sustained period of inflation. But first… The problem: too much tomato ketchup “The Federal Reserve and several administrations have [...]
Struggling British chip shops beg Norway for more fish as prices are out of control due to Ukraine war June 6, 2022 British chip shops faced with surging costs plan to turn to Scandinavia and Norway in particular for help to keep prices “as under control as possible”. Chippies are battling rising energy bills along with increased costs of cooking oil, potatoes and fish due to Russia’s invasion of Ukraine. The president of the National Federation of [...]
Kwarteng considers support for steelmakers as rising energy costs bite June 6, 2022 Steelmakers and other industrial manufacturers could be offered financial support from the government to ease spiralling energy costs.
Businesses warn inflation and supply chain crisis could be worse than impact of Covid-19 June 5, 2022 THE BUSINESSES at the backbone of the UK economy are increasingly worried inflation and supply chain issues will be more damaging to their prospects than the Covid-19 pandemic was, according to a closely watched sentiment tracker. Accountants BDO’s survey of medium-sized businesses suggests economic headwinds are squeezing both margins and wages – with tax hikes [...]
RAC urges more support for drivers amid near-record petrol price spike June 5, 2022 Petrol prices rocketed over 10p last month, the second largest monthly rise on record, putting more pressure on road users.