UK small businesses being priced out of cyber insurance by high premiums and cost-of-living crunch June 16, 2022 The UK’s small businesses are increasingly being priced out of cyber insurance policies, due to sky-high premiums and the cost-of-living crunch. Almost a third (29 per cent) of companies with fewer than 250 staff cancelled their cyber insurance policies last year, as part of efforts to cut costs, research from GlobalData shows. A further 17.3 [...]
Warnings of a profit crisis for retailers as margins shrink in the past decade June 14, 2022 Retail profit margins will plunge to 5.1 per cent in 2022, the lowest level in a decade. Excluding the initial impact of the Covid 19 pandemic and related shop closures, profit margins will drop to the lowest level in a decade, down from 8.3 per cent in 2021. Some 57 per cent of UK consumers [...]
Lloyds Bank to pay staff extra £1,000 each to deal with UK’s cost-of-living crisis June 13, 2022 Lloyds Bank is set to pay £1,000 bonuses to the vast majority of its UK staff to help them deal with the cost-of-living crisis. The UK’s biggest retail bank is set to give one-off, £1,000 bonuses to more than 64,000 of its rank-and-file staff, according to an internal memo seen by Morning Wire The bank [...]
Almost 60 per cent of the country is in debt with amount owed rising to almost £4,000 in year ahead June 9, 2022 Almost sixty per cent of the nation is currently in debt and the average amount owed is set to rise by 11 per cent to £3,834 in the year ahead. The deepening cost of living crisis is eating away at people’s savings, while average Brits are set to lose almost £1,500 in disposable income a [...]
London becomes fourth most expensive city in the world: Rent, petrol and cooking oil drive cost of living June 9, 2022 A perfect storm of rising inflation, the war in Ukraine and soaring house prices and rent, have turned London in to a pressure cooker of expense, making it the fourth most costly place to live in the world. London move up one place according to new research about cost of living for expatriates around the [...]
Nine in 10 Londoners struggle to pay the rent as cost of living onslaught eats up tenants’ budgets June 9, 2022 Rental cost increases are contributing to a strain on household finances for nearly nine in 10 tenants, with many facing further cutbacks should their household costs continue to increase. 86 per cent of all tenants confirmed the cost of living crisis is hitting them in their wallet, putting a further strain on Londoners’ household finances. [...]
Sunak’s care package prevents severe UK living standards shock May 26, 2022 Chancellor Rishi Sunak’s energy shock care package will prevent a severe erosion of living standards among the UK’s poorest households. That’s according to top wonks’ assessments of today’s round of measures designed to cushion the hit to households from soaring inflation and energy bills. Paul Johnson, director of the Institute for Fiscal Studies (IFS), said: [...]
Govt warned cost of living crisis will lead to ‘tsunami of fraud’ as criminals prey on struggling Brits May 26, 2022 THE cost of living crisis is likely to fuel a surge in fraud and online scams, a property group warned this morning. The National Association of Property Buyers fear criminals will aim to “cash in” on vulnerable Britons looking to save or make money over coming months. The property sector will be a prime target [...]
Emotional Tedros survives global Covid storm as he is re-elected as WHO head for five more years May 25, 2022 The World Health Organization’s (WHO) members re-elected Tedros Adhanom Ghebreyesus as Director General by a strong majority for another five years. After taking his oath, Tedros gave a speech in which he spoke about his brother who died at a young age from what he now thinks was measles. Watch the full report.