This online tool will help you discover what is contributing to your household’s cost of living increases Inflation is soaring in the UK as people are hit by higher prices for everyday essentials. Now in double digits, the latest inflation rate for the 12 months to December 2022 means that goods and services cost over 10.5% more than they did a year ago – in most cases, surpassing any pay rises workers can expect to…
FT – IMF outlook turns brighter as world copes with upheaval Wednesday’s Financial Times paints an optimistic picture of the world’s economy in 2023, with the International Monetary Fund (IMF) reportedly predicting an improvement in the second half of the year and into 2024. It comes as a result of China dropping Covid controls, the US launching a green investment boom and western Europe adjusting to the war in Ukraine, the paper writes. Read a…
Overall food and drink inflation across the eight major supermarkets reached 15% in December, but butters and spreads rose by an ‘astonishing’ 29.4%.
The daily and weekly cap on pay-as-you-go Tube fares will increase by up to 6.7 per cent, depending on how many zones are travelled.
UK inflation falls but food prices continue to rise For a second month in a row, price rises in the UK have slowed but the cost of food kept inflation at a 40-year high. Inflation fell to 10.5% in the year to December from 10.7% in November. Petrol and diesel costs also eased last month but food prices – including milk, cheese and eggs, continued to soar. Restaurant and hotel prices also rose in December…
Netflix flight attendant job offers $385,000 salary Netflix is on the hunt for a flight attendant for one of its private jets – with the successful applicant being paid as much as $385,000. The company is looking for candidates with “independent judgement, discretion and outstanding customer service skills”. And expect the application to be able to “operate with little direction and a lot of self-motivation.” The job advertisement comes after last year’s axing of hundreds…
EY is understood to be ready to take control after talks about new funding fail The battery startup Britishvolt is expected to collapse into administration on Tuesday after talks about funding from new investors failed. The company’s efforts to build a giant facility near Blyth in Northumberland have stalled in recent months as it has struggled to find a cash injection to pursue the project. Continue reading… EY is understood to be ready to take…
City Am – Reasons to be cheerful? City AM say Reasons to be cheerful on the UK economy? They’re there, if you’re looking for them Nobody likes to be negative, so perhaps that explains the surprising survey results on our front page today. Perhaps confidence in the economy is coming not from sensible forecasting but from unguarded new year’s optimism. Or, to borrow a line from Blackadder’s General Melchett, “that’s the spirit: if nothing else…
FT – Companies face billions in writedowns as Davos confronts soaring economy Some of the world’s biggest companies are facing multibillion-dollar writedowns as the World Economic Crisis in Davos, Switzerland, confronts the “souring economy”, the Financial Times reports. The front page also reports Prime Minister Rishi Sunak is set to use a constitutional “nuclear option” by blocking legislation passed by the Scottish Parliament last month that seeks to make it easier for people north of…
‘Just because you need it, it doesn’t mean they’re going to give it to you.’
He became the first person in history to lose $2 billion.
Supermarkets Tesco and Marks & Spencer both saw strong trading over the Christmas period as higher prices boosted their sales, despite the growing cost of living crisis.
Firm said in October it had not paid any UK windfall taxes because of heavy investment in North Sea Shell has revealed it will pay about $2bn (£1.7bn) in UK and EU windfall taxes for the last quarter of 2022. It comes after bosses at the London-listed oil company said in October they had not paid any UK windfall taxes because of heavy investment in the North Sea. Continue reading… Firm said in October it…
It comes with a ‘Zero Connect’ box that sends signals wirelessly to the screen.
Figure of £281,272 comes as property values drop by 1.5% in December, after 2.4% decline in November The average UK house price fell for the fourth month in a row in December, according to Halifax. Property values decreased by 1.5% in December, after a 2.4% drop in November, a 0.4% decrease in October and a 0.1% dip in September. Continue reading… Figure of £281,272 comes as property values drop by 1.5% in December, after 2.4%…
UK house prices fall for fourth month in a row The average house price in the UK fells for the fourth month in a row in December, amid the cost of living crisis and higher interest rates hitting home. In December, house prices fell by 1.5% compared to November, meaning the average house price is now £281,272, said Halifax. Halifax said uncertainty about how the cost of living will impact household bills along with rising…
Amazon cutting 18,000 jobs as it battles to save costs The online shopping giant Amazon has announced it plans to cut more than 18,000 jobs – the largest number in the company’s history. Globally, Amazon employs around 1.5 million people, and the announcement failed to identify which country the cuts would be in but said they would include Europe. Most of the job losses will come from its shops including Amazon Fresh and Go and…
The UK is set to face one of the worst recessions and have one of the weakest recoveries in the entire G7 this year, economists warn in the FT’s lead story. It is the price for “government policy failings”, they say.
The forecast is looking bleak for the year ahead.
The UK Government is enabling individual fashion owners to cream off huge sums from retail and harm workers overseas.
Demand for heating in UK and elsewhere falls but concerns remain over supplies this winter A spell of mild weather in the UK and Europe has sent wholesale gas prices tumbling in a respite from the high prices that have led to soaring energy bills. European prices for delivery in February fell by 4.3% to €73.7 a megawatt hour while UK prices fell by 3.8% to 179p a therm. Continue reading… Demand for heating in…
Tesla delivers record 1.3 million cars in 2022 Elon Musk’s Tesla car company says it delivered a record 1.3 million vehicles last year – that’s 40% more than in 2021. It comes after the company delivered more than 405,000 vehicles in the last three months of 2022. But the figure was short of the Wall Street forecasts of around 430,000 deliveries for the period. The motor industry is set for a difficult year ahead as many…
One million energy vouchers unclaimed in cold snap BBC News says More than one million households with pre-payment meters did not redeem their monthly energy support vouchers during the cold weather snap in December. Firms, where prepayment customers can cash vouchers, said postal strikes may have delayed some voucher deliveries. The Energy Support Scheme provides £400 to all households in Britain and those on pre-payment meters are sent vouchers each month. The government said energy…
Elon Musk says he’ll step down as Twitter CEO when he finds someone ‘foolish enough to take the job’ FOX News says Elon Musk on Tuesday revealed what it would take for him to formally step down as the head of Twitter. “I will resign as CEO as soon as I find someone foolish enough to take the job!” Musk tweeted. “After that, I will just run the software & servers team.” The tweet followed…
King Charles banknotes revealed – when it will be released The first images of new banknotes featuring King Charles have been unveiled by the Bank of England. The portrait of the King is the only change to the existing designs of the notes – which will enter circulation in mid-2024. The notes will feature the King’s portrait on the front and in the see-through security window. Existing notes with the late Queen’s image will still…
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