• Commuting In, DIY Out: UK’s New ‘New Normal’ After End of Covid Controls

    Commuting In, DIY Out: UK’s New ‘New Normal’ After End of Covid Controls

    Britain’s love for green fingers and blackened thumbs during the first Covid lockdown has since evaporated as people again find a “new normal” after the ending of restrictions, a survey suggests. The amount of time people spent gardening and doing DIY soared in March and April 2020, with people spending 40 minutes a day improving their homes and gardens compared with just 15 minutes in 2014-15. But it plummeted back to 20 minutes a day in March 2022, Office for National Statistics data shows. Lockdown lie-ins are also a thing of the past, with people sleeping 30 minutes less than

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  • Deliveroo Losses Soar to £147m as Cost of Living Crisis Bites

    Deliveroo Losses Soar to £147m as Cost of Living Crisis Bites

    Losses at Deliveroo soared by more than half to £147m in the first six months of the year, with the embattled company facing a dramatic slowdown in revenue growth as the cost of living crisis affects the demand for takeaways. The London-listed company also announced that Simon Wolfson, the chief executive of the clothing retailer Next, is to step down from the board with immediate effect. Wolfson, who joined the board 18 months ago in his first external directorship in three decades, said that the role was “no longer compatible” with his executive and other commitments. Deliveroo said revenues rose

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  • Half of UK Tech Firms Need Greater Support to Scale, Says Report

    Half of UK Tech Firms Need Greater Support to Scale, Says Report

    Half of the UK’s technology companies are lacking in the support necessary to scale the business, according to a new report today. The UK has a thriving technology space, securing 54 IPOs which have collectively raised £3.2bn – with 37 of these taking place last year, the report by Tech Nation, a body for UK tech entrepreneurs, found. The figure includes fan favourites such as Deliveroo, The Hut Group and Funding Circle, which cumulatively raised £1.91bn. However, 50 per cent of tech companies – particularly those focussed on developing emerging technologies, such as cyber – are not scaling, the report found. “We

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  • What to Look for When Predicting a Recession

    What to Look for When Predicting a Recession

    After two quarters of contracting gross domestic product in the UK, a debate has started about when the country will be in a recession — and whether we’re already in one. Technically, the call is made by a panel of experts looking at monthly indicators of employment, consumer spending, personal income and manufacturing, among others. But with inflation at a four-decade high, many Americans already feel like the country is in a recession. Throughout history, pundits have looked to a range of unusual measures to read as signposts. Here are a few. Men’s Underwear Index In America, Former Federal Reserve

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  • UK Postal Workers to Strike for Four Days in Pay Dispute

    UK Postal Workers to Strike for Four Days in Pay Dispute

    More than 115,000 UK postal workers are to stage a series of strikes in the coming weeks in a dispute over pay. The Communication Workers Union (CWU) said it would be the biggest strike of the summer so far to demand a “dignified, proper pay rise”. Strikes will be held on Friday 26 and Wednesday 31 August, and 8 and 9 September. The decision follows a recent ballot for strike action, in which members voted by 97.6% on a 77% turnout to take action. The union said management responded by imposing a 2% pay rise, which it believed would lead

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  • Strikes Expected at Felixstowe Port as Pay Talks End Without Agreement

    Strikes Expected at Felixstowe Port as Pay Talks End Without Agreement

    Talks between the Unite union and the company that runs Felixstowe port, which were aimed at stopping an eight-day strike by dock workers at Britain’s busiest container port, have ended without a deal. Negotiations came to an end despite the company’s new offer of a £500 bonus for each of the 1,900 dock workers, who have already voted in favour of strike action between 21 and 29 August amid a pay dispute with the Felixstowe Dock and Railway Company. After negotiations in recent days between the company and unions at the Advisory, Conciliation and Arbitration Service, the Hong Kong-owned port

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  • Top 10 Strategies to Start Clearing Your Business Debts

    Top 10 Strategies to Start Clearing Your Business Debts

    Small business owners are always on the lookout for ways to reduce expenses and become more profitable. They are various ways this can be achieved, however a good place to start is to clear your business debts. Although easier said than done, there are a number of strategies to achieve this goal. In this blog post, IVA Plan share some top tips to reduce your business debts. Through helping small business owners get their finances back on track, IVA Plan are experts in everything from what happens if an IVA fails to the business debts, council tax and more. Check

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  • Supply Issues Drive Down Used Car Sales

    Supply Issues Drive Down Used Car Sales

    The number of used cars sold fell by nearly a fifth in the second quarter as the supply issues that have put the brakes on the new car market finally hit the availability of second-hand vehicles. Figures out today from the Society of Motor Manufacturers and Traders showed a 18.8 per cent fall in the second quarter of 2022, with 1,759,684 transactions. Some 407,820 fewer vehicles changed hands compared with the same period last year. The long-running shortage of semiconductors continued to affect the supply of new cars, with an “inevitable” knock-on effect on used transactions, the trade body said.

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  • Cost of Living Support Gives Consumer Confidence a Lift

    Cost of Living Support Gives Consumer Confidence a Lift

    Consumer confidence rose in July as low-income households received cost of living payments from the government’s support package. A two-point increase was the first rise since November 2021 on the index compiled by YouGov and the Centre for Economics and Business Research. Consumer confidence had fallen by nine points in the seven months to July. The biggest rise was in participants’ perceptions of household finances. Their view of their personal finances over the past month rose by 5.3 points to 60.3 and their expected outlook for the next year rose by 3.1 points to 51.8. Around eight million households on

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  • Elon Musk Sell $6.9bn Tesla Shares as Twitter Court Battle Looms

    Elon Musk Sell $6.9bn Tesla Shares as Twitter Court Battle Looms

    Elon Musk has sold $6.9 billion worth of shares in Tesla to avoid what he said was an emergency sale should Twitter succeed in forcing him to close the $44 billion takeover. The social media group is suing him to complete the deal after he moved to walk away from a bid last month and has been granted a five-day trial that is due to begin on October 17. The share sale comes four months after Musk, the Tesla chief executive and the world’s richest man, said he had no further plans to sell shares in the electric car maker

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