One of Labour’s biggest backers has called on the next government to enshrine the right to a four-day work week “for all” after members backed the idea. Unison, which represents public service workers including NHS staff and police, said delegates voted through a motion to “demand the next government takes action to ensure more employers...
Tag: Cost of living crisis
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Bank of England accused of ‘penalising the young’ by keeping mortgage rates high
The Bank of England is “penalising the young” by keeping rates on 95pc mortgages artificially high, the boss of one of Britain’s biggest housebuilders has warned. Rob Perrins, chief executive of Berkeley Group, said the Bank has “a moral duty” to cut rules that require lenders offering riskier mortgages to hold a certain amount of...
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Labour risks higher mortgage bills and worse unemployment, says HSBC
The Bank of England is currently laser-focused on whether inflation is proving particularly stubborn in the services sector. Its panel of rate-setters is reluctant to start reducing interest rates from a 16-year-high of 5.25pc until they feel confident that this type of inflation is fading. Markets are only fully pricing in one rate cut from...
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US employment growth smashes predictions in blow to hopes of rate cuts – latest updates
Thanks for joining me. We begin with data showing house prices stalled between April and May. Average property values fell by 0.1pc over the month to £288,688, the Halifax house price index showed. 5 things to start your day 1) British tech tycoon Mike Lynch cleared in $11bn US fraud trial | A San Francisco...
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British children among world’s worst for exercise and healthy eating
Children in England and Wales are among the most inactive in the world, according to the World Health Organisation. In a study covering 44 countries, England, Wales and Scotland perform poorly on markers such as brisk walking, while some pupils miss breakfast, as experts warned day-to-day exercise was “largely disappearing from young people’s lives”. While...
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Bank of England will cut interest rates in August, says Goldman Sachs – latest updates
Thanks for joining me. We begin the day with the economic news that has been keenly anticipated by mortgage holders and the Prime Minister. Inflation fell to 2.3pc in April, according to the Office for National Statistics, raising hopes that interest rate cuts will not be far away. 5 things to start your day 1)...
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‘More job losses to come’ as UK stuck in ‘painful’ place, warns economist – latest updates
Thanks for joining me. Average wages have grown faster than expected in a blow to hopes for interest rate cuts in June. UK average regular earnings growth remained unchanged at 6pc in the three months to March, the Office for National Statistics said, which was higher than the 5.9pc expected by economists. 5 things to...
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Interest rate cuts could switch ‘from stroll to a sprint’ after US jobs surprise
Thanks for joining me. Hong Kong led another rally across Asian markets thanks to a surge in tech giants, putting it on course for its strongest run since 2018. The Hang Seng was the standout performer overnight thanks to buying of heavyweights including Alibaba and JD.com. 5 things to start your day 1) Apple suffers...
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GB News to axe 40 jobs weeks after revealing heavy losses
GB News is to cut 40 jobs as the opinionated broadcaster battles to stem losses. Staff were informed of the cuts at a company-wide meeting on Friday afternoon following previous warnings that a restructuring would lead to some employees losing their jobs. Bosses are offering up to two months’ salary and a possible payment in...
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Trump’s wealth surges by $5.5bn as Truth Social starts trading
Donald Trump has entered the ranks of the world’s 500 richest people after shares in his social media company surged on their Wall Street debut. Shares in Trump Media and Technology Group (TMTG), the entity behind Mr Trump’s Twitter rival Truth Social, rose by more than 50pc at one point after it arrived on the...
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Ted Baker collapses with hundreds of jobs at risk. What went wrong?
“We wish that there could have been a better outcome for the Ted Baker employees and stakeholders,” said McNamara. “We remain focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began.” He added that it will “hopefully [be] some consolation for customers” that...
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How cost-of-living crisis has changed Britain’s shopping habits: Covid hand sanitisers and Guinness are pulled from ONS inflation tracker – while vinyl, air fryers, gluten-free bread and women’s socks are added to list
The Office for National Statistics removing some items from its ‘basket’ of goods By Rory Tingle Home Affairs Correspondent Published: 09:30 BST, 11 March 2024 | Updated: 19:49 BST, 11 March 2024 Covid hand sanitisers and Guinness have been pulled from the inflation tracker in the first sign of how the cost of living crisis...
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