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Evening Standard
A recession is worse than inflation — why the Bank is getting this all wrong
Danny BlanchflowerINFLATION hit 9% in April but this may well be close to the peak.  Inflation falls as people stop spending but the fix to getting prices down is likely more harmful.  The combination of fiscal austerity and monetary tightening is likely to put the economy into a downward tailspin.  Brexit hasn’t helped.Recessions hurt more than inflation.  A one …
Business
Business Live
Vianet returns to profit amid upbeat view of growth potential
Internet of things provider Vianet has returned to profitability telling investors it was closing in on its pre-pandemic performance. The AIM-listed Stockton business said that it had recovered strongly following the impact of Covid on its key markets and that it would return to pre-pandemic levels in 2023 before going on to achieve double digit …
Business
Business Live
Beal Homes enters phase three of huge Goole housing development
Beal Homes has entered the next phase of its in-demand The Greenways development, bringing 76 new homes to Goole – including a new design. Phase three will take the total number of properties delivered at the 73-acre site over the 200-mark, with the first buyers expected to move into homes in this latest phase within …
Business
Evening Standard
New Go-Ahead owner reveals plans for London
Go-Ahead’s new joint-owners are “ready to invest” in improved rail and bus services for London, bosses of the two companies have said.The consortium said it hoped to accelerate the transport operator’s growth plans, adding decisions about London’s services would ultimately be a matter for TfL.Michael Sewards, Co-CEO of Kinetic, told the Standard: “We look to …
Business
Sky News
‘Blatant flouting of consumer rights’ among airlines as flight chaos threatens summer getaway
A consumer rights expert has accused airlines of presiding over a “blatant flouting” of their obligations to passengers following the recent flight chaos which threatens to continue into the summer holiday season.Sue Davies, head of consumer rights at consumer group Which?, told the Business, Energy and Industrial Strategy Committee (BEIS) committee of MPs there were …
Business
Business Live
Plans for new HS2 station will see thousands of civil servants relocating to landmark building
Thousands of civil servants are to move to a landmark building in Manchester from 2025, it has been announced. A lease agreement has been signed by the Government Property Agency (GPA) with developer Ask Real Estate and its joint venture partner, The Richardson Family, for a c.12,000sqm site in First Street. The office will replace …
Business
Evening Standard
Pay crunch gives Bank of England tough call on interest rates
THE UK jobs market remains strong but pay is falling at the fastest rate for 20 years official figures today suggest, putting intense pressure on the Bank of England as it ponders the next rise in interest rates due on Thursday.GDP numbers yesterday suggested the economy is heading for recession and today there was “grim …
Business
Sky News
The ranks of the ‘economically inactive’ are needed if worker shortage is to ease
Unpicking the messages from labour market data is a full-time job in itself, but the latest release from the Office for National Statistics (ONS) is unlikely to make anyone skip into work this morning.Unemployment remains close to a 50-year low of 3.8%. Expect to hear this mentioned frequently by ministers – a vindication of the …
Business
Sky News
Informa scores unwanted hat-trick as investors exhibit huge pay protest
Informa, the FTSE-100 exhibitions organiser, is braced for another huge pay protest against its board this week.Sky News understands that a large proportion of shareholders intend to oppose Informa’s remuneration report at its annual meeting on Thursday. The revolt will make it the third year in a row that the company has seen shareholders revolt …
Business
Business Live
Law firm Osborne Clarke reports 19% international revenue increase
Law firm Osborne Clarke has recorded a 19% increase in global revenues in the last financial year and is set to move to a new base in Bristol. The Bristol-founded company, which employs around 1,600 staff in 26 offices worldwide, recorded revenues of €407m (£349.8m) for 2021/22 – representing a 66% increase over five years. …
Business
Business Live
Games Workshop shares £10m of profits with staff
Workers at Games Workshop have shared an extra £10 million of profits over the past 12 months. The fantasy games business, which is based in Lenton, Nottingham, said it had rewarded staff for their hard work as it announced sales up £32 million for the past 12 months to £385 million. A year before staff …
Business
Sky News
Whitby residents vote in favour of ending second home ownership in seaside town
Residents in Whitby have voted in favour of new measures to reduce the number of homes being used for holiday accommodation.Large queues snaked outside polling stations as locals voted to end second home ownership in an unusual referendum on Monday, with a total of 2,228 people casting their vote. A significant 2,111 voted in favour …

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