IFS: Brits unlikely to spend pandemic savings anytime soon November 12, 2021 Brits are unlikely to dip into their pandemic-induced savings and splash the cash any time soon. A greater propensity to save, especially among richer households, and maintaining savings habits adopted during the Covid-19 crisis will deter Brits from spending, according to the economic think tank the Institute for Fiscal Studies (IFS). Normal spending patterns were [...]
Toshiba proposes historic break-up plan amid pressure from activist shareholders November 12, 2021 Toshiba is breaking up its empire and is splitting into three separate companies amid growing pressure from activist investors. The Japanese giant will house its hard drives and semiconductors in one company, and its energy and infrastructure holdings in another. It’s 40.4 per cent stake in flash-memory chip company Kioxia Holdings will form the basis [...]
AstraZeneca sales jump 50 per cent as vaccine crawls to profitability November 12, 2021 AstraZeneca’s revenues have soared 32 per cent this year to $25.4bn, powered by booming product sales. Third quarter revenues are up 50 per cent, with the pharmaceutical giant enjoying a $9.87 billion increase in revenues over the three-month period. The company has sold 2.2 billion vaccines since the start of the year. It has now [...]
From drivers to prison officers: Rapid jump in job adverts as vacancies climb to 2.7m November 12, 2021 Rising demand for driving instructors, prison officers and forklift truck drivers is helping to fuel an increase in job adverts, new research suggests. Around 221,000 new job adverts were posted in the first week of November, the fourth highest weekly figure since the start of 2020, taking the total to nearly 2.7m, according to the [...]
‘Acute’ staff shortages and rising energy bills force most businesses to hike their prices November 12, 2021 Amid ‘acute’ staff shortages and the rising cost of fuel and energy, most businesses are increasing their prices. A survey of 1,000 firms showed that four out of five increased the price of their goods or services in the past year. The British Chambers of Commerce (BCC) said its study indicated that nine out of [...]
Labour squeeze shows no signs of loosening before Christmas November 12, 2021 The ongoing labour squeeze shows no signs of loosening in the run up to Christmas, raising fresh concerns that usual festive activities could be scuppered. In the first week of this month alone, over 220,000 new job ads were posted in the UK, a historically high print since records began, according to the Recruitment and [...]
Home counties plagued by acute skills shortages November 12, 2021 The home counties are suffering some of the most acute skills shortages in the UK, leaving employers in the region clutching at straws to expand their workforce. Almost half of firms in the Thames Valley, which emcompasses Buckinghamshire and Berkshire, are struggling to source trained workers from the local talent pool, research by accountancy firm [...]
London markets shrug off weak UK GDP figures November 11, 2021 London markets shrugged off weaker than expected UK GDP figures today. The capital’s premier FTSE 100 index gained 0.60 per cent to close at 7,384.18 points, while the mid-cap FTSE 250 advanced by the same amount to finish at 23,574.05 points. Traders seemingly ignored a weak quarterly GDP print released by the Office for National [...]
Pound plunges to yearly low against dollar on underwhelming UK GDP figures November 11, 2021 The pound has plunged to its lowest level against the dollar this calendar year driven by traders dumping the currency after fresh data showed the UK economic recovery is stalling. Pound sterling dipped to day low of $1.3365, the weakest the pound/dollar exchange rate in 2021, following the release of new GDP data from the [...]
Swelling non-EU imports widens UK trade deficit November 11, 2021 Swelling imports from non-EU countries driven by the UK bolstering trading relationships outside the European bloc is widening Britain’s trade deficit. An 11.2 per cent jump in imports from non-EU countries in September drove the trade deficit up £3.1bn to nearly £7bn in the third quarter. Imports from countries outside the EU have been higher [...]