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Category: Business

Bank of England: rapid GDP rebound likely as vaccines take effect

February 11, 2021February 5, 2021mommazoocom

The Bank of England expects a rapid rebound of the UK economy later this year as the vaccination programme takes effect, but also announced moves to introduce negative interest rates if the recovery falters. The Bank forecast a 4.2% slump in the first quarter, followed by a resurgence of economic activity as vaccinations allow the […]

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UK should respond to economic crisis with 1945-style reboot, says CBI chief

February 10, 2021February 5, 2021mommazoocom

Britain needs an economic strategy for the next decade to match the ambition of the 1945 postwar recovery as the country emerges from the Covid-19 pandemic, the new head of the CBI said. In his first keynote speech as director general of the business group, Tony Danker said the “triple shocks” of Brexit, coronavirus and […]

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Fix gaps in furlough for self-employed workers, government urged

February 9, 2021February 5, 2021mommazoocom

The government is under mounting pressure to plug gaps in its emergency coronavirus wage subsidy schemes at the March budget to support millions of self-employed people and other workers excluded from furlough. MPs and campaign groups said the chancellor, Rishi Sunak, had repeatedly ducked opportunities to fix gaps in furlough and the self-employed income support […]

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World is shifting to a more plant-based diet, says Unilever chief

February 8, 2021February 5, 2021mommazoocom

Unilever has said expanding its range of plant-based foods is one of its new strategic priorities as the FTSE 100 company zooms in on the fastest-growing consumer markets. The group, which is behind household names such as Ben & Jerry’s ice-cream, Marmite and Dove soap, wants to have a €1bn(£865m)-a-year plant-based foods business in five […]

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UK new car sales fall 40% in January as lockdown bites

February 7, 2021February 5, 2021mommazoocom

Just over 90,000 new cars were sold in the UK in the slowest January for more than 50 years, according to industry figures released on Thursday. Sales fell 40% compared with January 2020 to 90,249, as the closure of car showrooms under lockdown compounded the economic gloom. The Society of Motor Manufacturers and Traders (SMMT) […]

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Waterstones says paying furloughed staff minimum wage ‘would not be prudent’

February 6, 2021February 5, 2021mommazoocom

Waterstones has told staff that furloughed workers will not receive any increase to their wages until shops can reopen, after a petition was launched calling on the book chain to help workers who are being paid below minimum wage on the scheme. A petition signed by more than 1,500 people so far, including more than […]

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Even low levels of gambling linked to financial hardship, study finds

February 5, 2021mommazoocom

People who bet even relatively small sums are more likely to suffer financial hardship and unemployment, while heavier gamblers die earlier, according to a landmark study analysing data from millions of bank customers. In a report thought to be the largest of its kind carried out in the UK, academics tracked the links between gambling […]

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