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 […]
More Housing’s new home, The Parker gives councils a solution to the housing crisis. Currently, the UK has close to 100k people in temporary housing or on the streets. Conditions in temporary housing have been widely reported by charities and the media as unsafe and unsatisfactory, with one in five having hazardous conditions. This menagerie of […]
Article content Earlier this month a strong jobs report tilted the odds in favour of the central bank hiking its rate by another 25 basis points to 4.5 per cent. Article content RBC expects headline Consumer Price Index growth to slow to 6.4 per cent in December from 6.8 per cent in November. Inflation peaked […]