IFS: Minimum wage cannot carry the can for earnings growth in Britain March 15, 2022 The minimum wage has limits to how much it can carry the can for boosting earnings growth in the UK, reveals a study published today. Government labour market policy needs to target boosting productivity to generate high-paying jobs and reverse weak growth in living standards, according to a report by the Institute for Fiscal Studies [...]
Russia-Ukraine talks boost London’s top indexes March 14, 2022 Reports of progress in talks between Russia and Ukraine boosted London’s top indexes today. The capital’s premier FTSE 100 index jumped 0.53 per cent to close at 7,193.47 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, soared 1.31 per cent to 20,471.25 points. Negotiations between [...]
UK firms to launch price hike spree as Bank of England prepares to lift rates again March 14, 2022 A record proportion of UK firms are preparing to hike prices in a further sign of the scale of inflationary pressures sweeping throughout the economy, reveals a closely watched survey released today. The fresh figures provide further incentives for the Bank of England to hike interest rates for the third meeting in a row when [...]
US Federal Reserve to hike rates for first time in over three years March 14, 2022 The US Federal Reserve will hike interest rates for the first time in over three years on Wednesday as the central bank takes the first step in shifting policy from supporting the American economy through the pandemic to taming runaway inflation. Fed Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) [...]
Russian economy to lose nearly third of its value March 14, 2022 Russia’s economy will be plunged into turmoil this year as a result of the country being frozen out of the global economy in retaliation to Moscow invading Ukraine. The country’s output will tumble around 30 per cent this year, far worse than the amount it lost during the financial crisis, according to forecasts by the [...]
Pandemic leads to major spike in whistleblowers turning to SFO to report alleged fraud March 14, 2022 The pandemic has led to a near 20 per cent rise in whistleblower reports about alleged fraud. Workers may have falsified accounts to cover up theft or inflated sales figures in a bid to achieve bonuses during the pandemic, a new report by consultancy firm Accuracy has found. There was a 17 per cent rise [...]
Price pinch: Most Brits financially struggling or worried as inflation rises and Ukraine war rages March 14, 2022 Almost 60 per cent of Brits either struggling financially, or concerned about money in the near future, due to Russia’s war in Ukraine and the cost of living crisis. The economic effect of the conflict has exacerbated the rise in energy and food, against the backdrop of increasing inflation, which is set to exceed the [...]
Radiator firm Stelrad’s revenue up almost 40 per cent, with operating profit more than doubling March 14, 2022 A UK-based producer for steel panel radiators has announced a near 40 per cent increase in revenue for 2021. Stelrad made £272m in the last 12 months with its operating profit more than doubling to £33.2 million in 2021 up from £15.6 million the previous year. The firm, which entered into the London Stock Exchange [...]
New business growth in London at eight year high amid concern about inflation and input costs March 14, 2022 New business activity in the capital has reached an eight-year high, but optimism remains cautious with rising inflation and pressures on input costs. There has been a resurgence in trade across the London, with growth rising from 57.3 per cent in January to a three month high of 63 per cent, in February. Growth reported [...]
Russia-Ukraine war raises spectre of UK recession March 14, 2022 Russia’s invasion of Ukraine risks plunging the UK economy into recession by propelling inflation to historic levels, according to a new report released today. Soaring food and energy prices triggered by the conflict could send the cost of living for the poorest households in the UK above 10 per cent, research published today by the [...]
