Ocado’s ‘M&S’ magic fails to impress as shares trade down despite revenue boost March 28, 2023 Ocado said it had helped by some “M&S magic” as the grocery chain’s joint venture with the high street stalwart boosted sales by 3.6 per cent in its first quarter. Shares in the online grocer were last trading down 1.97 per cent or 8.9p at 443.20p. The up market online grocer, which posted a pre-tax [...]
UK staff in EU holiday jobs plummets 70 per cent as British tourism pleads for post Brexit help June 14, 2023 The UK travel sector has called on the government to address difficulties employing British staff in EU holiday destinations, due to post-Brexit red tape and rising hiring costs. Trade association ABTA’s report found that the number of UK workers in holiday roles in the European Union has dipped by 69 per cent from 11,970 to [...]
Prime Minister and Chancellor to dismiss Tory calls for early tax cut June 28, 2022 The Prime Minister is set to bat away demands from Tory backbenchers to slash cuts in a major speech with the Chancellor next month. According to a report in The Times, Boris Johnson and Rishi Sunak are set to outline the government’s economic strategy in the speech. However, they will delay announcing a timeline for [...]
Ikea UK pays out £90m dividend to parent as instore sales soar January 29, 2023 Ikea reportedly paid out a £90m dividend from its UK business to its parent last year – the first in six years – as the Swedish furniture giant continues to rake in bumper profits. The dividend, reported by The Sunday Times, reflected the £62.4m profit made in 2021, a year interrupted by a series of [...]
Explainer-in-brief: Why paper bank notes are finally on the out June 24, 2022 Hear, hear: we all have 99 days left to use our £20 and £50 paper banknotes before they’re out of the market. Why is the Bank of England taking these notes away? The OId Lady says paper notes are easier to counterfeit than plastic ones, so it’s time to get rid of them. Plastic ones [...]
UK inflation shock was bad for the Bank of England – and disastrous for families March 22, 2023 These were not good inflation numbers for the Bank of England. They were even worse for families. Nearly everyone has been taken aback by the Office for National Statistics calculating the annual rate of headline inflation (the consumer price index) snapped a three month falling streak to climb to 10.4 per cent last month. That [...]
Sunak insists he will bring down taxes when inflation cools May 18, 2023 Rishi Sunak has insisted he will bring down taxes when inflation cools and claimed the economy is defying expectations. It comes after economists warned one in five people will be paying the higher rate of tax under his policies. The Prime Minister said the nation’s finances are receiving boosts from the departure from the EU, [...]
Spring Budget 2024: Will Jeremy Hunt focus more on the economy or the election? March 5, 2024 Chancellor Jeremy Hunt is being forced to fight political and economic battles in this Spring Budget, which isn't an easy task.
No gravy train: Bisto-maker Premier to cut 300 jobs despite strong festive sales January 19, 2023 Leading British manufacturer Premier Foods’ grocery business has gone from strength-to-strength over the Christmas period, as it looks to close a loss-making factory costing 300 jobs. The company, the maker or famous brands including Mr Kipling, Ambrosia, Custard and Angel Delight, cashed in on festive purchasing despite the cost of living crisis, with sales up [...]
Our economic recovery is on track, but we should aim to be on par with US growth September 18, 2023 There is no reason Britain should not aim to have an economy growing the same speed - if not faster - than the US, writes Chris Hayward