Oil and gas giant BP has reported another set of strong results as energy prices remain high. Profits hit $5bn (£4bn) in the first three months of the year, although this was down from $6.2bn last year with oil prices having fallen from the peak seen after Russia’s invasion of Ukraine. Bumper profits from energy […]
Food prices increased by a record annual rate of 15.7% last month as pressure continues to mount on household finances. Fresh food prices saw a record jump of 17.8% year-on-year for April, while the price of ambient products, such as tinned goods and other store-cupboard items, went up 12.9%. The latest figures come as the […]
Small businesses across Britain are warning that the cost of living squeeze is holding back economic growth, after two in five company bosses reported a drop in sales at the start of the year. The Federation of Small Businesses said that although business confidence was rising among bosses before the summer, soaring costs and weakness […]
Pubs, bars and restaurants are among the UK’s smaller businesses expecting a £180 million boost thanks to extended licensing hours for the coronation weekend, according to Barclays. Other parts of the economy will fare less well, however, as workers take time off. Forecasters told Bloomberg that the additional day off next Monday could tip the […]
The first ever council trial of a four-day-week has been hailed as a success, with average employee performance improving. South Cambridgeshire District Council trialled a four-day week for desk-based staff for three months, beginning in January of this year. Staff could take either Monday or Friday off, and their pay was not affected. According to […]
British workers are increasingly likely to work into their 70s, according to new research that found the cost of living crisis has left older people with little choice but to stay in employment. There were 446,601 people above the age of 70 still in work last year, a rise of 61% compared with 277,926 in […]
King Charles has been urged to call for the breakup of the “UK’s network of satellite tax havens” through which an estimated £152bn worth of tax is avoided every year, according to campaigners. Tax Justice Network, a coalition of researchers and activists campaigning against tax avoidance, are today calling on King Charles to use his […]
Business leaders’ optimism about the next year has risen for a fifth consecutive month, returning towards levels recorded immediately before Russia’s invasion of Ukraine. The Institute of Directors’ economic confidence index rose to a reading of -5 in April, from -13 in March and a low of -64 in November. A monthly sentiment index from […]
Breadcrumb Trail Links News Finance Banking Rapid deposit flight requires more financial oversight Get the latest from Stephanie Hughes straight to your inbox Sign Up Peter Routledge, head of OSFI, said there is more regulators can do to manage the rapid outflow of deposits that led to the failure of Silicon Valley Bank. Photo by […]
Hybrid workers will have to spend at least two days a week in the office, Lloyds Banking Group has told staff, with “card swipe data” used to monitor their return. Lloyds banking group’s decision to change its working from home policy was announced in a note from chief executive Charlie Nunn yesterday – as first […]