Bank of England Governor Andrew Bailey warns interest rates may have to rise again to tackle inflation March 1, 2023 Governor of the Bank of England Andrew Bailey has today warned interest rates may need to rise even higher to tame inflation, signalling yet more pain is in store for families and businesses. Speaking at a conference on the cost of living crisis in London, Bailey, 63, said if the Bank does “too little with [...]
Natwest’s profits soar as high interest rates boost bank’s mortgage business April 29, 2022 Natwest today said its profits had almost doubled since the previous quarter, despite inflation, the cost-of-living crisis, and the war in Ukraine. The bank said it had generated £841m in profits in the first quarter of 2022, up 93.8 per cent compared to the £434m in profits Natwest posted in Q4 2021. The first quarter [...]
Currys told to ditch price lock by shareholder to increase margins July 31, 2022 Currys has been told to ditch its “price lock” commitment and make goods more expensive by a veteran hedge fund manager amid the cost of living crisis. Crispin Odey, who holds a substantial stake in the firm, said “freezers and washing machines are going to have to be more expensive as they are currently being [...]
Asda launches new and larger value range and kills off Smart Price in race to kickstart stalling growth March 29, 2022 Supermarket giant Asda, which was bought by the Issa brothers and backers TDR Capital last year, said this afternoon it will axe its Smart Price range and replace it with new Just Essentials by Asda products. In fact, Asda is launching a new and larger value range, amid the cost of living crisis, as the [...]
Kwarteng to U-turn on scrapping 45p tax rate: ‘We get it – we have listened’ October 3, 2022 Chancellor Kwasi Kwarteng will U-turn on scrapping the 45p tax rate amid opposition from his own MPs and former ministers. The government is to row back on the policy following vocal opposition from former cabinet ministers Michael Gove and Grant Shapps. On Sunday, the Prime Minister said she was “absolutely committed” to the policy. Posting [...]
Soaring interest rates could spark five per cent London house price fall October 31, 2022 Soaring interest rates and a tough cost of living crisis could send London house prices on a downward spiral, new research published today warns. Home prices in the capital are on course to shed five per cent next year, driven by sellers dropping prices to attract buyers hit by an affordability crunch, according to property [...]
UK voters’ concerns on inflation reach highest level in four decades July 26, 2022 UK voter worries on inflation are at their highest since the 1980s as the country faces a severe cost of living crisis and prices of essentials surge. The July 2022 Ipsos Issues Index by research company Ipsos showed that 45 per cent of adults in the UK view inflation as one of the most pressing [...]
DIY giants Wickes posts growth in first half but cautious of softening sales and worrying outlook July 26, 2022 Home improvement giant Wickes registered strong sales for the first half of 2022, but has reined in its expectations for the second half due to economic uncertainty. The Northampton-based company had sales growth of 5.5 per cent in the first six months of this year, with progress in its score revenue and ‘Do It For [...]
Local elections analysis: Do results suggest fear of complacency was misplaced? May 5, 2023 Poll leads can be a tricky thing for opposition parties, as Labour has shown in recent weeks. Lean in too far and risk appearing complacent. But downplay it too much, and you could fail to capitalise on a popularity boost. What everyone – from activists to frontbenchers – really want is cold, hard evidence of [...]
Letters: Taking care of customers June 10, 2022 [Re: No more Netflix and chill: Consumers cancel subscriptions and miss out on meals out amid historic inflation, June 7] In a week with an avalanche of new retail data, it is easy to miss the big picture. The BRC data has a clear message: online is here to stay. Hasty predictions that online would [...]