Brits to face permanently higher prices if rising wage and energy bills persist February 17, 2022 Consumers will face permanently higher prices for products if rising wages and energy costs persist, reveals fresh research published today. Services firms are raising prices at the fastest pace on record to alleviate severe margin pressure stemming from rising bills, according to a survey by Lloyds Bank. Soaring staffing and energy bills are sending costs [...]
Suppliers could be charged for luring new customers under fresh Ofgem intervention February 16, 2022 Energy suppliers could be forced to pay a levy when acquiring new customers, under freshly announced time-limited measures unveiled by Ofgem. The regulator has intervened further in the energy industry, with the introduction of the market stabilisation charge. It will mean that when suppliers attract customers from an existing energy firm, they will have to [...]
Housebuilders facing extra £3.2bn in construction costs this year as prices spiral February 16, 2022 UK housebuilders could face paying the hefty extra sum of £3.2bn per year as new-build construction costs are set to skyrocket. The average cost of construction for a new-build property is set to rise almost £18,000 per unit, research from property debt adviser Sirius Property Finance has revealed. Construction costs across the industry could total [...]
IEA urges OPEC+ to boost oil production amid market rallies February 16, 2022 The head of the IEA Fatih Birol has called on OPEC+ to boost production to meet its agreed output targets.
Heineken warns drinkers could cut back on beer as it prepares to hike prices February 16, 2022 Heineken has warned today that drinkers could cut back on beer as it prepares to hike its prices to offset soaring costs.
Inflation nears 30-year high as consumer price index climbs to 5.5 per cent February 16, 2022 UK inflation has remained at a near 30-year high after rising further in January as Britain remains in the grip of a tightening cost-of-living squeeze, according to official figures. The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation reached 5.5 per cent in January, up from 5.4 per cent in December and [...]
As the energy crisis hits pockets, we need to protect our future economy February 16, 2022 Against the backdrop of the cost of living crisis, there is a growing vocal minority in the Conservative Party calling for the Prime Minister to slow down on decarbonising the British economy. The Net Zero Scrutiny Group of backbench MPs in parliament have started to grumble that the government’s net zero plans will cost too [...]
SMEs to bolster employee numbers in face of rising inflation and energy costs February 16, 2022 UK SMEs are looking to bolster their employee numbers in the face of rising inflation and energy costs, according to new research today. Small and medium-sized businesses have tabled plans to hire around six newbies, on average, in the first quarter of this year, Barclaycard Payments’ SME Barometer has revealed, with 40 per cent looking [...]
Crude Awakening: The necessity of oil and gas in the green transition February 15, 2022 Oil and gas have a role to play in the energy mix of developed economies, even as the world transitions to renewable energy sources.
If London is the heart of our economy, more TfL fare rises will cut off the blood supply February 15, 2022 From March, every bus or train journey within Zone 1 will go up 10p, after Sadiq Khan announced yesterday that Transport for London fares would rise by almost 5 per cent. For Londoners, this means the average 3-day-a-week commute will go up by £30 a year, on top of rising food and energy prices. It [...]