UK headed for ‘deep recession’ on political turmoil and soaring interest rates October 24, 2022 The UK could be hurtling toward a “deep recession” caused by a mixture of political turmoil and soaring prices forcing the Bank of England to hike interest rates steeply, a closely watched survey out today reveals. Britain’s private sector economy shrank sharply this month, with contraction rates returning to levels last seen in January 2021 [...]
Law Society hits out at government as barristers prepare to strike April 10, 2022 The Law Society has hit out at the Ministry of Justice (MoJ) after claiming the government’s £135m a year legal aid investments will not be enough to fix the “crisis in the criminal defence profession.” The comments come as barristers are set to go on strike from tomorrow onwards, after the Criminal Bar Association (CBA) [...]
Test and Trace halted at lab after 43,000 people given false negative Covid tests October 15, 2021 Test and Trace operations have been halted at a laboratory after around 43,000 people were issued with incorrect negative Covid-19 tests. “We have recently seen a rising number of positive LFD results subsequently testing negative on PCR,” public health incident director at UK Health Security Agency, Dr Will Welfare said. “As a result of our [...]
Cloudy outlook to prompt MPC to hold fire on rates and QE September 23, 2021 A slowing economic recovery from the Covid-19 crisis, sharp energy price rises and tax hikes squeezing Brits’ household incomes are likely to prompt the Bank of England’s committee of rate setters to err on the side of caution today. The Bank’s monetary policy committee (MPC) will announce its latest decision on rates and the fate [...]
Next and Frankie & Benny’s bosses under fire for hefty pay packets May 16, 2022 Frankie & Benny’s and Next bosses are under fire for hefty bonuses after both companies received government support during coronavirus measures. Next chief Simon Wolfson took home almost £4.4m last year, up 50 per cent on the year before, including an annual bonus worth 100 per cent of his basic salary. Meanwhile, Andy Hornby, chief [...]
Virgin Active appoints Dean Kowarski CEO as it snaps up his nutrition firm March 4, 2022 Virgin Active has appointed Dean Kowarski, the founder of The Real Foods Group, as its new chief executive.
Brits slash spending in another sign of looming economic woe April 27, 2022 The worsening cost of living shock is prompting Brits to cut back on unnecessary purchases in a further sign the UK economy is headed for a period of worse than expected growth, reveals fresh figures published today. Households are shunning luxury items in response to their living standards suffering a heavy blow from the highest [...]
Which UK shares should you keep an eye on in September 2022 August 24, 2022 As Citi predicts UK inflation will strike a forbidding 18.6% in early 2023, investors are rushing to rebalance their portfolios away from unsustainable growth towards the best UK shares, including FRP Advisory Group, QinetiQ, and Phoenix Group. UK shares to buy With interest rates rising with the risk of corporate defaults, the twin signposts of liquidity and [...]
Next lifts profit forecast to £822m as shareholders await New Year payday January 6, 2022 Next has told shareholders to expect a special dividend at the end of the month, after lifting its profit guidance for the full year. The high street retailer has raised in profit before tax guidance by £22m, to £822m – up nearly 10 per cent in comparison with pre-pandemic levels. Meanwhile, investors eye a £205m [...]
International energy watchdog predicts slump in oil demand in second half – CityAM : CityAM August 12, 2021 The resurgence in new Covid cases globally triggered by the spread of the Delta variant will hit oil demand in the coming months, according to the international energy watchdog. The International Energy Agency said the fresh wave of Covid infections in Asian countries is likely to curb oil consumption as authorities reimpose restrictions on economic [...]