Shoe Zone shares crash as Budget deals major blow to profit plans Retail Shares in Shoe Zone have plummeted to their lowest value for more than three years after the company warning the changes announced in the Autumn Budget has forced it to close a number of stores. The Leicester-headquartered retailer issued a trading update to the London Stock Exchange in which it revealed the impacted that “significant [...]
Retail jobs slashed as high costs lead to automation and outsourcing Retail The number of jobs offered by the UK’s largest private sector employer – retail – has dropped again, as companies shift to outsourcing and automation in an effort to deal with higher costs. This trend has been ongoing for some time, and is responsible for both job loss and a lack of job creation as [...]
Firms set to hike prices, reduce pay and cut staff, Bank of England survey shows Economics More than half of firms surveyed by the Bank of England expect to raise prices in response to the Budget.
Bank of England: Andrew Bailey names ‘biggest issue’ after Budget tax hikes December 4, 2024 "How companies balance the mixture of prices, wages, the level of employment, what is taken on margin, is an important judgement for us," he said.
Budget tax hikes send business confidence to two year low, survey shows December 4, 2024 S&P's purchasing managers' index (PMI) for the services sector showed that business expectations for the year ahead were at their lowest level since December 2022.
Goldman Sachs: Why Budget tax hikes may hit harder than economists expect December 3, 2024 The research from the US investment bank is the latest attempt to get to grips with the likely impact of the tax changes announced in October's Budget.
Tom Kerridge warns Budget tax hike will have ‘catastrophic’ effect on hospitality firms December 3, 2024 Tom Kerridge has warned that the government's tax hikes will have a "catastrophic" impact on many hospitality firms in the new year.
Manufacturing activity drops to nine-month low following Budget December 2, 2024 Rob Dobson, director at S&P Global Market Intelligence, said manufacturing was struggling due to a combination of high costs, weak demand and concerns over the economic outlook.
Business confidence takes ‘decisive turn for the worse’ after Budget, says CBI December 2, 2024 The Confederation for British Industry's (CBI) growth indicator showed that more firms expected activity to fall in the three months to February than to increase.
UK business leader confidence nosedives towards pandemic lows December 1, 2024 Confidence among business leaders in the prospects for the UK economy nosedived towards levels not seen since the coronavirus pandemic during November, as fears over rising national insurance bills plague firms. The Institute of Director’s monthly Economic Confidence index fell to -65 in November, down from -52 during October in its fourth consecutive monthly fall. [...]