Scrapping of Plan B curbs turbocharges UK services economy February 21, 2022 The British economy appears to be weathering the cost of living storm as the drag on businesses and households from pandemic curbs peters out. The scrapping of Plan B restrictions prompted Brits to pour back to high streets, pubs, bars and restaurants, lifting output in the services economy to an eight month high of 60.8 [...]
Government should have allowed airlines to collapse, according to new report February 21, 2022 The government should have allowed airlines to collapse during the Covid-19 crisis to improve the long-term performance of the travel sector, according to a new report published today. The wave of taxpayer money drilled into airlines to ensure they survived the sharp drop off in passenger volumes has made the sector more imbalanced, the Institute [...]
Exclusive: One in every four shops in Cheapside are empty February 21, 2022 Oone in every four shops in Cheapside are empty, reveals research shared exclusively with City PM The shop vacancy rate in the shopping precinct between Bank and St. Paul’s stations has shot up from just 3.4 per cent in 2019, before the pandemic, to nearly 25 per cent this year, according to Colliers. Retailers’ income [...]
Homebuyers flood back to London amid return to office February 21, 2022 Movers are flocking back to London as the spectre of the Covid-19 crisis over the capital’s housing market fades away, reveals fresh figures published today. The scrapping of restrictions on daily life to curb infections and the return to the office is driving homebuyers to put London back at the top of their desired locations. [...]
Rampant inflation to swell government’s interest bill once again February 20, 2022 Soaring inflation will swell the government’s interest bill to eye-watering levels, official figures released this week are expected to show. The cost of servicing the UK’s stock of debt has already broken several records in recent months, including hitting its highest ever level for a December at £8.1bn. Fresh figures published by the Office for [...]
Week ahead: City braces for more bumper banker bonuses February 20, 2022 Investors are preparing to comb through the details of British high lenders’ results this week for any clues that higher interest rates are goosing their bottom lines. UK banks’ earning season has been underlined by a jump in bonuses for top deal makers which are expected to continue this week. Barclays, the last remaining British [...]
Exclusive: Starmer to back away from 2019 Labour manifesto with series of key speeches February 18, 2022 Sir Keir Starmer will try to definitively distance himself from Labour’s far-left 2019 election manifesto in a series of key speeches over the next few months. This will begin next week when the Labour leader makes a speech outlining his stance on some “meaty” economic issues as he sets out “a totally distinct path from [...]
London markets mixed as investors mull next steps in Russia-Ukraine saga February 17, 2022 London markets plummeted today as investors were spooked by a seeming false alarm on a de-escalation in the Russia-Ukraine saga. The capital’s premier FTSE 100 index dropped 0.87 per cent to 7,537.37 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, plunged 1.24 per cent to [...]
Slap up Valentines Day meals boosts UK diner volumes February 17, 2022 Couples treating themselves to a slap up Valentines Day meal boosted the volume of diners in the UK over the last week, revealed official figures released today. The number of restaurant goers in Britain surged 17 percentage points in just a week and is now nearly a third above its pre-pandemic level, according to the [...]
Entrenched supply crunch stoking inflation risks throttling global economy, IMF warns February 17, 2022 Supply chain breakdowns stoking inflation are inflicting “harm” on the global recovery from the Covid-19 crisis, the world’s economic watchdog warned today. Swelling costs fuelled by choking supply bottlenecks pose a serious risk to derailing the economic rebound by cutting households’ spending power, the International Monetary Fund (IMF) has warned. Central banks launching a rapid [...]
