Wincanton sees revenue fall 15 per cent amid signs of ‘gradual’ recovery May 14, 2020 Logistics firm Wincanton said that revenue in April was down 15 per cent on a year-on-year basis, though it said it was beginning to see encouraging signs of a “gradual increase” in activity levels. In a trading update, the haulage company said that “considerable uncertainty” remained over the financial disruption it would suffer due to [...]
UK economic pain eases somewhat in May but deep downturn continues May 21, 2020 The UK economy thawed slightly in May from its April deep-freeze as the government eased some coronavirus restrictions, survey data has shown. Yet the economy was still in a dire state, according to a preliminary reading of the IHS Markit/Cips purchasing managers’ index (PMI), which measures the health of the private sector. The whole-economy PMI [...]
UK confidence in household finances hits record high February 17, 2020 UK households’ perceptions of their financial wellbeing rose to their highest ever levels this month in a sign of growing optimism over the UK’s economic prospects. IHS Markit’s UK Household Finance Index (HFI) – which measures households’ overall perceptions of financial wellbeing – increased to 47.6 in February, up from 44.6 in January. Although the [...]
UK services sector growth slowed by coronavirus March 4, 2020 Growth in the UK services sector slowed in February as coronavirus led to cancelled bookings and delayed projects, a survey has shown. Nonetheless, the sector had its second-best month since September 2018 as a rise in consumer confidence after the December General Election and Britain’s exit from the EU led to a rebound in domestic [...]
Now Mark Carney sees a silver lining to Brexit February 14, 2020 Mark Carney has said there may be a silver lining to Brexit for the UK economy. Speaking to Reuters, the outgoing Bank of England governor said there are some potential upsides for the economy from Brexit, in marked contrast to some of his previous comments on the decision to leave the EU. “In an environment [...]
High street toasts strong start to 2020 as sales jump to six-year high February 7, 2020 Retailers hailed the best in-store sales figures for six years last month, as the end of the Brexit deadlock sparked a surge in consumer confidence. Like-for-like sales at physical stores increased 5.7 per cent in January from a base of minus 0.2 in 2019, following the “worst year on record” for retailers. Bricks and mortar [...]
DEBATE: Is 2035 too soon to ban petrol and diesel new car sales? February 6, 2020 Is 2035 too soon to ban petrol and diesel new car sales? Alex Buttle, director of car selling comparison website Motorway.co.uk, says YES. The government already had its work cut out to meet its previous 2040 deadline, and endless confusion over Brexit and the car industry’s future haven’t helped consumer confidence to make the switch [...]
Ofgem cracks down on five smart meter operators March 6, 2020 Energy watchdog Ofgem has banned five suppliers from taking on new customers until they become compliant with smart meter regulations, it said today. The regulator has told the five companies that until they become Data Communications Company (DCC) users, they will be banned from supplying any new customers. The DCC is responsible for the national [...]
Coronavirus: Thwarted holidaymakers seeking £7bn in refunds April 22, 2020 Consumer rights group Which? has said that it has received thousands of complaints from customers trying to secure refunds from the UK’s biggest travel companies and airlines. New research from the group shows that many of the UK’s leading travel firms are breaching their legal obligations to pay refunds within the required timescale, instead offering [...]
Pendragon shares fall on gloomy profit projection January 29, 2020 Car dealership Pendragon today said that it expects its profit to be at the lower end of expectations for its full financial year. The company, which has had two chief executives depart in the last year, has been hit by sluggish UK car demand. Shares fell 4.5 per cent this morning to 11p. Pendragon is [...]