UK construction headed for a drastic slowdown, warns trade association May 3, 2022 Construction activity is headed for a drastic slowdown, according to a top UK trade association, as geopolitical pressures weigh on British builders. Inflationary headwinds, labour shortages and supply chain disruptions have scuppered growth in the sector, with construction forecast to eek out 2.8 per cent growth in output – a stretch away from the 4.3 [...]
Exclusive: Londoners absorb heaviest national insurance hike hit May 3, 2022 Londoners have suffered the worst blow to their finances in the UK in the first month the national insurance hike has been in effect, reveals exclusive research shared with City A.M. today. Workers in the capital have absorbed a near £300m blow to their budgets from higher national insurance bills, the biggest jump in the [...]
CBI: Firms need help to make it through summer May 1, 2022 Firms might need further support before the autumn Budget to help tackle rising costs, according to a business group. The CBI highlighted the near-term challenges that companies are facing, especially energy intensive firms. A survey by the group found that growth in private sector activity including consumer services and distribution sales remained “steady” in the [...]
Saturday Sitdown: MovePlan’s EMEA chief on rethinking ESG as working policies are being rewired April 30, 2022 Over the last few years, ESG has become integral in any business strategy, and rightly so. It’s a deal-breaker not just for investors but also for those considering new roles. In fact, City A.M. recently reported how businesses with poor ESG credentials are struggling to attract talent, a sure sign of the importance of substantive [...]
China’s reckless pursuit of zero-Covid must finally teach us resilience in supply chains April 30, 2022 China's pursuit of zero-Covid has caused pandemic-era supply chains to continue to cause repercussions across the world.
ExxonMobil trebles buyback scheme after $3.4bn Russia write-down April 29, 2022 Exxon Mobil (Exxon) has revealed a hefty $3.4bn write-down following its withdrawal from Russia in its first quarter update.
Apple beats expectations with record revenues and profits amid looming pandemic headwinds April 29, 2022 Apple has reported record revenues in the second quarter of its financial year with turnover soaring to $97.3bn between January and March.
Total pain: French energy giant suffers $4.1bn hit from Arctic LNG project April 28, 2022 TotalEnergies has taken a $4.1 billion hit following it withdrawal from a Russian liquiefied natural gas (LNG) project in the Arctic.
It would be ‘silly’ to provide households with more support before price cap update, says Rishi Sunak April 28, 2022 Chancellor Rishi Sunak plays down the prospect of immediate support for households despite mounting pressure on consumers.
Sainsbury’s warns of lower profit as grocer anticipates inflationary pressures April 28, 2022 Sainsbury’s has warned of a lower profit for the coming year as the grocer faces uncertainties including high inflation and cost of living pressures on shoppers. Sainsbury’s posted underlying profit before tax of £730m for the 2021/2022 financial year, a 104 per cent boost on the year prior, but warned of challenges down the line. [...]