The casualty rate for pubs and restaurants in the pandemic is being matched by hospitality sector failures because of inflation, research suggests. Inflation in energy bills, wages and other costs caused a net decline of 4,809 licensed premises last year, a higher tally than 2021. The Hospitality Market Monitor published today by AlixPartners and CGA […]
Google is still allowing adverts to run alongside articles calling climate change a “hoax” and a “big lie” despite pledging more than a year ago to block Google Ads running alongside content containing climate misinformation. Campaigners accused the firm of “trying to have its cake and eat it”. The internet giant has strongly trumpeted its […]
Retail sales fell last month as shoppers cut Christmas spending in the face of price rises and the higher cost of living. Retail sales volumes dropped by 1 per cent, after a fall of 0.5 per cent in November, data from the Office for National Statistics shows. Economists had forecast a 0.5 per cent rise. […]
With its colourful numbers and hands helpfully labelled minute and hour, a children’s learning clock from Oyster & Pop, a family firm in Devon, is sold online for about £20. A Rolex Oyster watch, on the other hand, calls itself a “superlative chronometer” and costs nearer £5,000. Rolex is demanding that the smaller company change […]
Twitter remains in the grip of an advertising squeeze, with the social media platform hit by a 40% drop in revenue after more than 500 clients paused their spending, according to reports. The company’s daily revenue was down 40% year-over-year, the tech newsletter the Platformer reported, while the news site the Information said staff were […]
The rate of inflation eased to 10.5%, according to official figures – down from 10.7% in November. The Office for National Statistics (ONS) said the reduced cost of motor fuels led to the decline in the core consumer prices index (CPI) measure of inflation along with cheaper clothing and footwear, and recreation and culture. Pushing […]
Brexit has led to a shortfall of 330,000 people in the UK labour force, mostly in the low-skilled economy, a report by leading researchers has found. The departure from the EU in 2020 led to an increase in immigration from non-EU countries, but not enough to compensate for the loss of workers from neighbouring countries, […]
Jeremy Hunt is planning a “slimmed down” spring budget with no immediate tax cuts as the Conservatives press ahead with attempts to win back economic credibility after the damage inflicted by the Truss administration. Treasury insiders told the Guardian the chancellor was not expected to announce any tax cuts in his fiscal statement this March […]
Hundreds have lost their jobs after British electric car battery company Britishvolt fell into administration. The majority of Britishvolt’s approximate 300 staff have been made redundant, administrators said, after the group made an application for administration to the courts on Tuesday. It followed talks with investors over a possible sale to keep the firm afloat. […]
The UK foreign secretary, James Cleverly, and the European Commission’s vice-president, Maroš Šefčovič, have committed to further talks to resolve the dispute over Brexit trading arrangements in Northern Ireland. Following a “stock-taking” meeting on Monday afternoon, they agreed to continue what they described as “scoping work” to find potential solutions in a “constructive and collaborative […]