Worker shortages bite as UK economic recovery stalls in July July 23, 2021 Shortages of workers and raw materials triggered by the “pingdemic” and supply chain constraints is threatening to stall the UK’s economic rebound from the Covid pandemic, show new figures published today. IHS Markit / CIPS’ latest flash UK composite PMI fell to 57.7 in July, the lowest reading since March. The reading dropped markedly over [...]
Furlough worth £70bn but unemployment fears mount as scheme ends on Thursday September 27, 2021 The furlough scheme cost the government £70bn and has been successful at preventing unemployment from skyrocketing, but concerns are sharpening about the jobs market’s ability to stand on its own two feet as the scheme ends this week. The initiative cost roughly the equivalent of 18 months’ of funding for UK schools, according to research [...]
UK funds back in favour off the back of successful vaccine rollout May 6, 2021 After a long period of neglect, investors are finally warming to UK funds again off the back of the success of the vaccine rollout. The latest set of Investment Association figures show savers invested £472m into funds in the UK All Companies sector. It comes as the country starts to open up and investors pin [...]
Irn-Bru maker facing ‘increased challenges’ with lorry driver shortages August 3, 2021 AG Barr has said it faces “increased challenges” with its haulage fleet while expecting to report a revenue of some £134m for the first half of the financial year. Bosses have warned August will be a pinch point for the shortage of qualified HGV drivers, which was exacerbated by Brexit and the pandemic, as supermarkets [...]
Plan B ‘huge blow’ for city centre pubs as night clubs question timing of Covid passports December 8, 2021 Pubs and bars have called the introduction of Plan B Covid restrictions a “huge blow” for the sector, which was hoping to recoup its losses this Christmas. “Make no mistake, this is a huge blow for our sector as it further undermines consumer confidence and is devastating for pubs based near offices and in town [...]
UK marketing budgets grow for first time since start of pandemic July 15, 2021 UK marketing budgets have grown for the first time since the outbreak of Covid-19, marking the first signs of recovery for the country’s battered advertising industry. Between April and June this year total ad budgets expanded for the first time since the last three months of 2019 and to the sharpest extent since the first [...]
Exclusive: London’s fintech bubble is ‘close to popping,’ warns Reed Smith partner April 13, 2021 A coalition of London fintech firms recently called on the Financial Conduct Authority to end the dominance of banks over the use of consumer data this year. They argue it would increase competition in the savings, credit, mortgages and pensions markets. Howard Womersley Smith, an expert fintech and data lawyer at Reed Smith in the [...]
UK business activity grew at fastest pace since 1998 in May May 21, 2021 Business activity in the UK expanded at its fastest rate since 1998 in May as the economy raced out of lockdown, new data today showed. A flash reading of the IHS Markit Composite PMI, which combines services and manufacturing, came in at 62.0, up from 60.7 in April. Any score above 50 indicates growth. IHS [...]
Analysis: Does Google’s ad clampdown leave Brits at risk of fraud? August 18, 2021 In what Google described as a “significant additional measure” to protect both its users and legitimate advertisers, and to prevent scammers exploiting its various platforms, the multinational tech giant recently announced its intention to clamp down on financial fraud by forcing all financial services advertisers to demonstrate that they are authorised by the Financial Conduct [...]
Baked goods group Finsbury Food knocked by Covid delays but still marked growth July 14, 2021 Baked goods group Finsbury Food has ended its financial year with raised revenues despite being struck by Covid-19 unlocking delays, bringing in some £313.3m in total revenue. The group’s results in the second half of the year faired slightly better, as consumers had more spending confidence as they eyed restrictions easing, with revenues up 9.1 [...]