Chefs, waiters and bar staff benefit from pay bump as hospitality sector shows signs of life after Covid-19 February 14, 2022 Chefs, bar staff and waiters are being rewarded with a pay bump in a sign Britain’s hospitality industry is recovering from a bruising couple of years, reveals new research published today. Wages at roles in pubs, bars and restaurants have climbed 12 per cent, according to research by Caterer.com. Cooks are benefitting from the greatest [...]
Labour squeeze and national insurance hike to throttle UK SMEs’ growth plans February 14, 2022 A tight labour squeeze and soaring hiring costs are throttling small and medium-sized British firms’ recovery from the Covid-19 crisis, reveals a fresh survey published yesterday. British businesses are intending on launching a hiring spree this year to boost growth and restore revenues to pre-pandemic levels, but fear a lack of talent could throw their [...]
Workers flood back to the office after end of Plan B curbs February 14, 2022 Workers are flooding back to the office after the government scrapped Plan B curbs last month, fresh figures published today reveal. The number of Brits shifting from their bedroom and kitchen desks and heading back to their firm’s office shot up 50 per cent in the final week of January, according to office provider IWG. [...]
Exclusive: Energy crunch to squeeze UK industry February 14, 2022 UK manufacturing is set to swallow a £20bn-plus bill from soaring energy costs this year, heaping further pressure on Britain’s weakening economic recovery, reveals exclusive research shared with Morning Wire Surging oil and gas prices will pile an extra £8.7bn on to factories’ energy costs in 2022, crimping their already squeezed margins. Swelling energy bills [...]
Week ahead: City’s gaze turns to fresh inflation figures February 13, 2022 All eyes in the City this week will be on fresh inflation figures as investors brace for another shocker of a print. Most economists expect inflation to firm even further, jumping to 5.5 per cent in January from 5.4 per cent in December. That would still leave the cost of living at around a 30-year [...]
US Fed to embark on fastest tightening cycle in recent history, warns Goldman Sachs February 13, 2022 The US Federal Reserve will embark on the fastest tightening of monetary policy in recent history this year to tame runaway stateside inflation, Wall Street analysts are betting. Chair Jerome Powell and co will lead the charge against the soaring cost of living across the pond by hiking interest rates seven times in 2022, according [...]
Pensioners face biggest loss in spending power for nearly 50 years February 12, 2022 British pensioners will suffer the greatest loss in spending power since in nearly 50 years, following Sunak's decision to halt the triple lock.
UK economy records highest expansion since WW2 February 11, 2022 The UK economy has registered the highest expansion since 1946, growing 7.5 per cent in 2021 despite an Omicron-induced slump registered in December. According to ONS figures, the economy was recovering strongly following a 9.4 per cent collapse in 2020 but was hit with a 0.2 per cent bump in December. Retail and hospitality were [...]
Brits flock back to country’s drinking holes in sign of normalising spending February 11, 2022 Brits are flocking back to the country’s drinking holes after Covid-19 restrictions were scrapped last month, revealed fresh figures released yesterday. Social spending is nearly back to pre-pandemic levels as the end of Plan B curbs encouraged consumers to return to their favourite pubs, bars and restaurants. According to data released by the Office for [...]
Weak efforts to claw back stolen furlough money by HMRC to leave taxpayers with £4bn bill February 11, 2022 Weak efforts by the taxman to clawback Covid-19 support money stolen by fraudsters will result in taxpayers shouldering a £4bn loss, warns a new report published today by a group of cross-party MPs. “HMRC’s unambitious plans” to recover billions of misspent pounds through the furlough and business loan schemes could see taxpayers holding the bag, [...]