Is HS2 a ‘rail to nowhere’? MPs quiz Harper on viability of delayed £1.2bn Euston project April 19, 2023 In a committee hearing this morning, transport secretary Mark Harper admitted that HS2’s Euston developments were “significantly” greater than the initial budget allocated. His comments followed confirmation that the £1.2bn tunnel from Old Oak Common would be paused until 2024. Harper faced an array of strong questions relating to Euston’s Old Oak Common section of [...]
UK recession still on the cards after aggressive Bank of England interest rate hikes March 27, 2023 A recession is still on the cards in the UK despite the economy performing much better than experts predicted just a few months ago, new forecasts out today project. Higher interest rates and households responding to the cost of living crunch gripping their finances by trimming spending is tipped to push GDP 0.3 per cent [...]
UK inflation poised to slip out of the double digits to lowest level in over a year May 22, 2023 UK inflation is poised to tumble to its lowest level in over a year in what is expected to begin a steady descent from its multi-decade highs, new figures out this week are likely to reveal. The rate of price increases in April is tipped to have dropped markedly to 8.2 per cent last month, [...]
Virgin Money to give out £1,000 bonuses to help staff deal with cost-of-living crunch July 19, 2022 Virgin Money today told staff it will be giving out £1,000 bonuses to all workers on salaries of less than £50,000 a year to help them deal with the UK’s cost-of-living crisis. In an internal memo seen by City A.M., Virgin Money chief executive David Duffy told staff earning less than £50,000 that they will [...]
Relax some net zero measures, says Michael Gove July 23, 2023 Top Conservative minister Michael Gove has called for some net zero measures to be relaxed as he warned against green policies becoming a “religious crusade”. Gove’s intervention came in the wake of a Labour defeat in the Uxbridge by-election which saw the victorious Conservative MP Steve Tuckwell run a single-issue campaign opposing the ULEZ rollout. [...]
British Gas poised for record profits after Ofgem’s hike in price cap allowances July 23, 2023 British Gas is expected to post record profits next week, powered by Ofgem's decision to temporarily hike allowances for suppliers.
Can Amazon Prime, Netflix and the streamers survive the UK’s recession fears? April 20, 2023 The number of British households signed up to streaming platforms has slumped so far this year, as more cash-strapped viewers trim their subscriptions to cut costs. The number of homes subscribed to at least one video streaming platform fell to 16.1 million between January and March this year, down from 16.91 million during the same [...]
Pay growth stays at three decade high but inflation still stripping away wages July 19, 2023 Pay growth is running at its fastest pace in over three decades and has remained unchanged for the second quarter in a row, in a sign the Bank of England may have to back a bigger interest rate hike again next month. New figures out today from XpertHR reveal wages leapt six per cent in [...]
Recession clouds lift over UK jobs market as hiring begins to recover April 12, 2023 Recession clouds are receding from the UK jobs market as companies gradually regain confidence about hiring workers following a batch of better than expected economic data since the turn of the year, new figures out today reveal. Firms are dipping their toes back in the recruitment market, lured by household spending holding up better than [...]
London is not a 24-hour city – and Khan needs to change that March 11, 2024 Sadiq Khan must pledge to do more to support our night time industries, making sure they thrive rather than survive.