UK economy fails to behave itself at start of Rishi Sunak’s re-election bid May 24, 2024 Rishi Sunak has made an improving economy a central part of his election pitch, but in truth these were not the figures he would have wanted to see at the beginning of an election campaign.
Sainsbury’s boosts pay as part of £205m inflation package January 4, 2023 Sainsbury’s is investing £185m in pay bumps for staff as the supermarket looks to retain staff during a period of high inflation and rising cost of living. Pay will increase to £11 per hour for retail staff, with London workers paid £11.95. It represents a 10 per cent pay hike over the past year when [...]
Unemployment to remain unchanged at four per cent as jobs market cooling continues August 14, 2023 Experts are expecting the slow cooling of the jobs market to continue when the Office for National Statistics (ONS) releases new data on Tuesday morning. The unemployment rate in the three months to the end of June is expected to remain unchanged at 4.0%, according to a consensus supplied by Pantheon Macroeconomics. But within this [...]
Magners cider owner says cost of living and strikes help sink its profits as Brits stayed away from pubs January 13, 2023 The company behind Magners cider and Tennent’s lager disappointed investors on Friday as it said that strikes and cost of living pressures had eaten into its performance in recent weeks. C&C Group said that it expects operating profit to reach between €84m and €88m (£75 million to £78m) in the financial year. The company had [...]
Liontrust and Ashmore feel the squeeze as volatility rocks London’s asset managers November 3, 2023 London’s asset managers have been rocked by a “complete lack of investor confidence” over the summer as soaring inflation and market turmoil chokes off the flow of cash into firms like Liontrust and Ashmore, analysts have said.
Till sales surge as retailers boosted by sunny September and back to school deals September 19, 2023 A bout of unusually hot weather in early September helped hike grocery sales at UK supermarkets, with total till sales surging 10.3 per cent in the last four weeks ending 9 September. According to data from NIQ, the figure rose up from 7.2 per cent during the wet July and early August, which deterred shoppers [...]
UK lost 6,000 store fronts due to covid and ‘crippling’ business rates July 28, 2023 Britain has lost 6,000 storefronts in five years amid Covid and cost-of-living pressures and “crippling” business rates, according to figures. The overall vacancy rate increased to 13.9 per cent across Britain in the second quarter of this year, a 0.1 percentage point drop on the first quarter but 0.1 points up on the same period [...]
FTSE 100 close: London pares gains as BP slump offsets inflation hope October 31, 2023 London's FTSE markets climbed on Tuesday morning as investors received another boost from falling food inflation but oil giant BP slumped after a poor set of results.
Consumer confidence continues to recover as double-digit inflation fails to deter Brits from splashing cash May 19, 2023 Consumer confidence in the year ahead is continuing to recover despite persistent cost-of-living pressures, a long-running survey suggests. GfK’s Consumer Confidence Index rose by three points in May to minus 27, the fourth monthly increase in a row from January’s minus 45. Confidence in personal finances over the coming 12 months saw a “robust” five-point [...]
Profits Superdry up and share price plunges as retailer plans to cut costs by £35m and fundraise out of a hole April 14, 2023 Fashion chain Superdry has warned over its profits and revealed plans to cut costs by more than £35 million after struggling against dampened consumer spending. The retailer said it was considering a fundraise in a bid to shore up cash to help it “emerge from the current turbulence”. Its share price plunged by around 18% [...]