Drinks sales boosted by office return as bars slowly recover from Omicron hit February 3, 2022 Drinks sold at pubs and bars in Britain edged closer to pre-pandemic levels, in levels not seen since last November. Average drinks sales by value in managed pubs, bars and restaurants for the week to Saturday 29 January were eight per cent below the same period in 2020. This was the first time the weekly [...]
Lorry driver squeeze and CO2 shortage leaves Brits unable to buy food September 24, 2021 Severe lorry driver and CO2 shortages are stopping Brits from buying food, according to official statistics released today. Around one in six people are unable to buy essential food items due to them not being available, according to the Office for National Statistics (ONS). A paucity of lorry drivers has led to lengthy delays in [...]
Fuel surpasses last week’s record prices, reaching unprecedented 149p per litre February 21, 2022 Fuel prices have surpassed those of last week – which saw forecourts charge motorists 148p per litre – and reached record highs. According to RAC data, yesterday petrol prices reached 149.12p per litre while diesel was at 152.58p, meaning that it costs respectively £82 and £84 to fill a vehicle. “While the price of oil [...]
Investment slump amid higher interest rates risks finally sparking UK recession June 6, 2023 A mix of factors are buffeting the UK economy right now. Spending power is being crushed by high inflation eroding family finances. House prices are coming off their heady heights as sellers drop prices to source buyers amid higher mortgage rates. External demand is thinning in response to weak consumer confidence amid a global cost [...]
Biden boost: US unemployment falls as 531,000 jobs added in October November 5, 2021 US employment increased more than expected last month as the headwind from the surge in Covid-19 infections over the summer subsided, offering more evidence that economic activity was regaining momentum in a boost for Joe biden. Nonfarm payrolls increased by 531,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data [...]
Home buyers warned cut in stamp duty will lead to big jump in monthly mortgage bills September 21, 2022 Home buyers could end up paying much bigger monthly mortgage bills if the government goes ahead and scraps or cuts stamp duties. Ahead of Chancellor Kwasi Kwarteng’s mini-budget on Friday, The Times reported that radical plans to cut stamp duty are in the pipeline as part of efforts to boost economic growth. Downing Street refused [...]
Loungers beats pre-pandemic sales as customers flock back and expansion picks up pace December 1, 2021 Bar and restaurant group Loungers has beaten pre-pandemic sales as customers flocked back to its sites following the lifting of Covid restrictions earlier this year, the company has revealed. Revenues hit £102m in the six months to October 3 with a pre-tax profit of £12.8m as bosses opened 12 new sites and aims to open [...]
Retail banking rebound boosts Societe Generale profits February 10, 2022 A sharp rebound in retail banking activity has boosted French lender Societe Generale’s profits, it announced today. Profits in the final three months of last year came in at €1.79bn (£1.51bn), up substantially from the €470m booked in the same period in 2020. An uptick in loan demand driven by consumer confidence recovering as the [...]
Pilot union calls for winter resilience fund as Omicron hinders sector’s recovery December 15, 2021 The British Airline Pilots’ Association (Balpa) has written to the government asking for a winter resilience fund to help aviation face the Omicron variant. Citing the restrictions’ financial impact, Balpa has asked for around £15m for the development of pilot training schemes, arguing they will prove fundamental for the industry’s recovery. “Just when we thought [...]
Bank of England to launch another jumbo rate hike to tame over 10 per cent inflation August 17, 2022 The Bank of England is set to launch a series of jumbo rate hikes to tame inflation that is beginning to be driven by domestic factors, City economists warned today. Prices climbed 10.1 per cent annually in July, the fastest acceleration since February 1982 and much higher than the Bank and analysts’ forecasts, according to [...]