Economy heads for the rocks with no firm hand on the tiller
Britain slides towards the cliff-edge of what is likely to be a nasty winter recession
More chaos will lie ahead for new Chancellor
Cutting taxes? Controlling the deficit? Curbing inflation? All of the above?
Bank of England to test the UK banking system on ‘deep’ recession
Financial institutions must set aside more money to absorb coming economic shocks
Ofgem reveals £21bn grid overhaul to cut down bills in ‘long term’
Proposals are aimed at upping capacity and resilience and to pave way for ‘net zero’
Three quarters of British businesses hit by staff shortages squeeze
BCC and Open University survey says more than half will increase staff training over coming year
Leaving London out of levelling up brings UK down
Capital receives 42p per capita from Community Renewal Fund compared with £3.79 for East Midlands
Voters count cost of Brexit six years after Leave ballot
Voters in Wakefield and Tiverton and Honiton could give Boris Johnson a bloody nose today
Sunak forced to borrow yet more as inflation soars and growth falters
Debt interest payments have surged by 70% compared with last year for the Chancellor
Charting a grim historical note as inflation tops 9%
Last time inflation was this high Tight Fit topped hit parade with ‘The Lion Sleeps Tonight’
Lloyds Bank to hand £1,000 cost of living payment to employees
Financial award in August to cover 99.5% of staff but exclude senior management
Sterling slides as all three sectors of British economy reverse
Recession red light blinks as output fell by 0.3% including services, production and construction
A bleak week beckons with too many fires to fight
Tomorrow’s labour market figures are likely to underline how quickly living standards are falling
Consumers face sharpest food price rises in a decade
British Retail Consortium states costs are ‘likely to get worse before it gets better’
Alarm as mortgage borrowing dives and credit card debt soars
Figures point to delay in house purchasing and increase in debt for essential items
Supply chain inflation and Covid level profits at De La Rue
The bank note manufacturer has instigated a £57 million pensions write down
SSE reports increased profits
Energy company made £1.5 billion this year amid calls for a windfall tax
Jubilee family fry up in danger from global food emergency
British staple has risen by 40p for the average family breakfast in just a year
Consumer confidence crashes to record low
GfK consumer confidence index paints gloomy picture of public economic mood, despite surprise rise in retail sales
Inflation hits 40-year high of 9% as cost of living crisis deepens
Prices rose at the fastest rate since 1982 in April as the energy price cap jumped and the price of fuel soared
Banks ‘pulling up the drawbridge’ on small business lending
Limiting small firms’ access to finance risks stifling the economy, the Federation of Small Businesses warned
Shortage of job seekers stokes London recruitment crisis
KPMG and REC report only shows glimmer of hope for hiring businesses as wage demands sharpen
UK starts new post-Brexit trade talks with Switzerland
The UK wants tariff-free trade - now less than half the £35 billion in bilateral trade with Switzerland - to cover its ‘superpower’ services sector.
Manufacturers raise prices at fastest rate in 40-years
The war in Ukraine has begun to affect prices for manufacturers, denting optimism
‘Tsunami’ of insolvencies hits England and Wales
Petitions for businesses to be wound down more than doubled last month to 2,114
KitKat and Nespresso maker Nestlé warns of more price rises on the way
Inflation will require further pricing and mitigating actions over the course of the year
‘Desperate’ banks drive City hiring boom as job ads hit two year high
London finance job ads jump 73% as senior bankers see average pay rises of 22%
Government steps in to keep factories running as energy bills soar
Extra payments will be administered quarterly through business compensation scheme
BT and Tesco raise pay as recruiter sees 20% wage inflation
Financial and tech candidates hot property as shortage of talent continues
UK growth forecast slashed as recession risk rises
Report is echoed by investment bank Deutsche that insists risk of recession’ remains on the rise
Plea for VAT freeze as borrowing data gives Sunak £26bn to play with
The Chancellor can afford interventions after government borrowing came in under forecasts