Retail sales dropped by 0.6 per cent in the United States last month, more than anticipated and a sign of Americans’ caution in the face of sustained inflation at the start of the holiday shopping season. The fall in November, which exceeded economists’ expectations of a drop of about 0.1 per cent, came after an […]
Companies that used up cash reserves stockpiling materials when supply disruptions were at their worst are scaling back plans to invest as a result, a Bank of England survey has found. The rising cost of loans is also driving firms to focus on reducing existing debt rather than borrowing more, according to the Bank’s regional […]
The biggest changes to personal taxation in a quarter of a century are to be postponed for a further two years because the computer systems are not ready, triggering concerns that the government is set for another costly public sector IT disaster. The Treasury is to postpone its programme to digitise the tax system — […]
Mick Lynch, the boss of the RMT, has said that a resolution to the rail dispute could come as soon next week. Asked what it would take to call off next week’s walkouts, he told Sky News: “Resolutions to disputes are about compromises. We understand what the companies want and they understand what we need. […]
The Bank of England has delivered its ninth consecutive interest rate rise, taking the cost of borrowing to 3.5 per cent. Officials at the central bank voted to increase interest rates by 0.5 percentage points in a bid to control spiralling inflation, which is weighing on households and businesses. Rates have risen by 3.4 per […]
Britons have saved almost £3m by using tumble dryers and other power-hungry devices at quieter times, under a scheme that aims to reduce the strain on electricity networks, National Grid has said. The electricity system operator (ESO) launched an initiative last month to incentivise consumers and businesses to reduce their energy use, by running appliances […]
Union leaders, the rail minister and industry chiefs are scheduled for showdown talks on Thursday after industrial action on the rail network brought the UK to a standstill for the second day in a row. Only 20% of services were running as about 40,000 RMT members working for Network Rail and 14 train operators went […]
Two ticket touts who were jailed for fraud related to large-scale ticket reselling have been ordered to pay £6.2m in a confiscation order. Peter Hunter, 53, and David Smith, 68, were sentenced to prison in February 2020 after a three-month trial in which the married couple were found guilty of fraudulent trading and possessing an […]
Single-use plastic items including cutlery, plates and polystyrene cups are reportedly to be banned in England by the UK government after a consultation. Thérèse Coffey, the environment secretary, is poised to unveil plans to phase out the items and replace them with biodegradable alternatives in the coming weeks, the Financial Times reported. It noted that […]
Breadcrumb Trail Links News Investor ‘Someone will likely look into it, whether it’s innocent or not’ Author of the article: Bloomberg News Akayla Gardner and Jessica Menton Publishing date: Dec 14, 2022 • 6 minutes ago • 2 minute read Join the conversation U.S. President Joe Biden gives a press conference following the release of inflation […]