Millions of Brits to be plunged into ‘fuel stress’ as experts downgrade UK economic forecasts January 17, 2022 Millions of Brits are set to be plunged into fuel stress when the energy watchdog hoists the cap on bills, reveals a new study published today. The number of households languishing in fuel stress will treble overnight to 6.3m when the new energy price cap takes effect on April 1, research carried out by the [...]
Square Mile defies downbeat post-Brexit worker exodus forecasts January 17, 2022 The City is smashing downbeat forecasts that Brexit would ignite a mass exodus of workers from the Square Mile to the Continent, reveals a fresh study released today. London’s top banks, brokers and fund managers are launching a recruitment offensive as the spectre of the pandemic over the capital recedes. In the final three months [...]
City chiefs draw up plans to create new market in post-Brexit tech drive January 16, 2022 City chiefs are drawing up plans to shake up the capital’s listing structure to attract fast-growing tech companies, according to reports. The London Stock Exchange (LSE) has tabled proposals to erode the normal lines between public and private companies. Private firms would be given access to a special market to allow them trade shares on [...]
Week ahead: City braces for more eye watering inflation data January 16, 2022 The City’s attention this week will zero in on latest UK inflation estimates published on Wednesday. Although experts expect the rate of price rises to remain broadly unchanged, investors are likely to gulp at inflation remaining at historically high levels. According to the Office for National Statistics (ONS), inflation hit 5.1 per cent in November, [...]
UK farmers face bankruptcies and closures as £1.8bn in EU cash stops with MPs warning ‘blind Brexit optimism’ may lead to higher food prices January 16, 2022 Direct agriculture funds of around £1.8bn per year will be cut by half in 2025 and completely dry up by 2027, under new government plans. As the EU’s Common Agricultural Policy (CAP) no longer applies to British farmers following the UK’s departure from the EU, MPs warn in a new report for ‘blind Brexit optimism’ [...]
JP Morgan hits record annual profits despite fourth quarter slowdown January 14, 2022 JP Morgan has reported record annual profits today despite a slowdown in its trading business and rising costs biting into into fourth quarter profit margins. Profits for the full year hit a record $48.3bn, but the final quarter of the year saw a dip to $10.4bn, a 14 per cent fall on the previous year. [...]
London markets dip as retailers give up this week’s gains January 13, 2022 London markets eked marginal gains yesterday despite retailers giving up some gains registered throughout the week. The capital’s premier FTSE 100 index closed 0.16 per cent higher at 7,563.85 points, while the domestically-focused FTSE 250 index, which is more aligned to the health of the UK economy, fell 0.38 per cent to 22,958.48 points. Britain’s [...]
US businesses’ costs swell at record pace as inflationary pressures build across the pond January 13, 2022 US businesses’ costs are swelling at a record pace, adding fuel to the inflationary fire burning across the pond, reveal official figures released today. Prices for materials used by American firms are 9.7 per cent higher than were a year ago, the highest calendar year increase since the US Bureau of Labor Statistics started tracking [...]
Omi-gone: Brits flock back to pubs, bars and restaurants as social spending climbs January 13, 2022 The damaging drag the re-imposition of Covid-19 curbs had on Brits’ confidence is easing, reveal official figures released today. Britons rushed back to pubs, bars and restaurants in the immediate aftermath of Christmas and New Years in a sign that plan B’s blow to the UK services economy will disappear into the ether. Consumers have [...]
Demand for staff swelling: Frantic recruitment efforts as vacancies climb but job candidates dry up January 13, 2022 Demand for staff is growing across the country amid a continued fall in the number of candidates for jobs, new research suggests. Recruiters warned this morning they are placing record numbers of permanent and temporary workers into jobs as demand for staff continues to grow across the country. Meanwhile, the number of available job candidates [...]
