Inflation will keep breaching BoE target over next half decade September 17, 2021 Inflation will routinely breach the Bank of England’s target over the next half a decade, according to fresh data released today. The Bank’s latest survey on inflation expectations shows Brits think the rate of price rises will hit three per cent in five years’ time, one percentage point above the Old Lady’s target. Over the [...]
Insurance body ABI names Nicky Morgan new chair amid management shake up November 10, 2021 Former MP Nicky Morgan has been appointed as the first independent chair of the Association of British Insurers (ABI), as the trade body overhauls its management. Two more senior appointments were today announced by the ABI, whose members include Aviva and Axa, as part of reforms by the organisation to improve consumer trust in the [...]
Budget: OBR says UK to avoid recession and is on course to grow every year after short blip in boost for Jeremy Hunt March 15, 2023 Britain will avoid a much-tipped recession this year and will grow every year until 2027 after a short blip, a massive reversal from economists warning of the longest contraction in a century just a few months ago, the country’s spending watchdog said today. UK GDP is on course to suffer a mild slump in 2023 [...]
We’re all to blame for shortages and roaring inflation December 6, 2021 A large chunk of people seem to be experiencing buyers’ remorse. Whether it was cocktail making kits, hot tubs or garden furniture, the British consumer hoarded and hoarded during lockdown, and many of us are regretting those purchases. But, people should not feel alone in making these bizarre purchases. The pandemic enforced a seismic shift [...]
UK inflation soars to 3.2 per cent in record jump September 15, 2021 Inflation rose at the fastest rate since records began last month, new data showed today, though economists warned the jump was likely to be temporary. The Consumer Prices Index rose 3.2 per cent in August, up from 2.0 per cent in July, the single biggest one-month jump since the ONS began publishing the data in [...]
Unemployment drops by 0.4 per cent to 4.5 per cent October 12, 2021 The number of UK workers on payrolls rose by 207,000 between August and September to a record 29.2m, returning to levels seen before the pandemic struck, the Office for National Statistics (ONS) said. The unemployment rate in the UK shrank 0.4 per cent to 4.5 per cent. Though unemployment fell, the number of job vacancies [...]
Troubled Moss Bros launches CVA proposal to tackle ‘perilous’ situation November 27, 2020 Struggling retailer Moss Bros has launched a Company Voluntary Arrangement (CVA) proposal to give it the best chance of emerging for the challenges brought on by the coronavirus. A CVA allows companies to settle debts by paying creditors over a fixed period, and it could see the closure of some of Moss Bros’ 125 UK [...]
Prince Philip in ‘good spirits’ after second night in hospital February 18, 2021 The Duke of Edinburgh has spent a second night in hospital in central London after he was admitted on Tuesday evening. Prince Philip, 99, was admitted to King Edward VII Hospital on Tuesday evening as a precautionary measure, due to feeling unwell. His stay is not related to coronavirus, and a palace source said the [...]
UK directors to face fines in major overhaul of audit rules February 5, 2021 UK directors will reportedly face fines for accounting failures at their companies as part of a major overhaul of the audit sector. Long-awaited reforms, set to be published as early as next week, will place a tough new burden on bosses in an effort to improve audit standards. Directors, rather than boards, will be held [...]
Clothing and footwear sales boomed in May as social events influenced shopping June 8, 2021 Retail sales enjoyed a buoyant May, with clothing and footwear performing particularly well as the easing of coronavirus restrictions allowed social events to influence how consumers shopped. UK retail sales were up 23.7 per cent on a like-for-like basis from May 2019, according to the latest figures from the British Retail Consortium (BRC), suggesting a [...]