Omicron and virus curbs deals blow to Brits’ confidence December 17, 2021 The emergence of the Omicron variant of coronavirus has dealt a blow to Brits’ optimism, according to a closely watched survey published today. Consumer confidence edged back one point over the last month to minus 15 in December, research by GfK found. The dip has been driven by households’ confidence in their personal finances over [...]
Pandemic spending habits settle to ‘new normal’ after online shopping boom March 8, 2022 Pandemic spending habits have “settled into a new normal” with people returning to bricks and mortar stores to ‘try before you buy’ last month. Total retail sales were up 4.9 per cent in February, compared to the same month in 2020, according to the British Retail Consortium (BRC) and KPMG retail sales monitor. Sales continued [...]
Hospitality chiefs call on Sunak to reverse VAT hike or leave London businesses ‘unviable overnight’ March 20, 2022 Hospitality heads have said the government’s plans to increase VAT from current rates of 12.5 per cent to highs of 20 per cent at the start of next month will see some London businesses “become unviable overnight.” Industry chiefs warned that Chancellor Rishi Sunak’s plans to hike consumer taxes on food, soft drinks, accommodation, and [...]
UK economy to shrink, but avoid recession for now May 23, 2022 A combination of a weak March handover and the Queen’s Jubilee in June is set to see the UK economy contract in the second quarter. An easing of coronavirus restrictions resulted in the UK economy growing 0.8% over the first quarter. But this respectable outturn masked a deterioration in the monthly profile. After a 0.7% [...]
Face masks on flights are not going anywhere, experts warn February 1, 2022 Travellers will be wearing a mask aboard flights for the foreseeable future, as aviation experts believe it will be impossible for single carriers to remove the policy anytime soon. Aviation insiders believe UK airlines will look for “international consistency” before allowing a policy change, acting as one. “Until there is a harmonised lifting of mask [...]
Virgin Atlantic back at Gatwick after U-turn November 15, 2021 Virgin Atlantic could go back to operating from Gatwick airport from next summer after a 18-month hiatus. After being forced to leave the Sussex hub during the peak of the pandemic, the carrier has confirmed Gatwick flights will resume, the Times reported. “We maintain our ambition to rebuild our presence at Gatwick as demand returns, [...]
Retirement housebuilder Churchill revenue up 75% after lonely lockdowns August 16, 2021 Retirement housebuilder Churchill has reported revenue up 75 per cent as lonely lockdowns encouraged people to consider moving into retirement homes. Revenue hit £160m as 48 per cent more retirement homes were sold, the housebuilder revealed in its full year results for the year to June 30. The group swung back to profit with an [...]
The Notebook: Victoria Scholar on why it’s not all doom and gloom for the economy March 8, 2023 The Notebook is where interesting people say interesting things. Today, it’s Victoria Scholar, head of investment at Interactive Investor, on why it’s not the time to be gloomy about the UK’s prospects, the battle for your coffee pound and a new podcast. You wouldn’t be blamed for thinking that the UK economy is in a [...]
Cost of living squeeze deals financial crisis level blow to Brits’ optimism April 4, 2022 Brits’ optimism is eroding at the fastest pace since the financial crisis amid the tightest cost of living squeeze in a generation, reveals a closely watched survey released today. A combination of inflation scaling to its highest rate in three decades, tax hikes, swelling energy bills and weak wage growth have bound together to deal [...]
Wolseley owner Corbin & King goes into administration amid icy tensions with shareholder January 26, 2022 The firm behind high-end London restaurants including the Wolseley and the Delaunay has fallen victim to the pandemic and entered into administration. Administrators from FRP have been appointed for Corbin & King, it was reported last night. Daily operations will not be impacted and restaurants will continue trading. Hospitality venues in the capital have struggled [...]