UK inflation falls, but food prices remain elevated.

Creative Media NewsWednesday, 18 January 2023, 17:000

Price increases in the United Kingdom fell for the second consecutive month, although the price of food like milk, cheese, and eggs kept inflation at a forty-year high. Inflation, which gauges the rate of price increases, decreased from 10.7% in November to 10.5% in December. The price of gasoline and fuel decreased last month, while...

Official numbers show that cheaper fuel and clothes lower inflation to 10.5% from 10.7% the month before.

Creative Media NewsWednesday, 18 January 2023, 9:000

The aggregate number has decreased due in part to cheaper transportation expenses resulting from decreasing motor fuel prices. According to official data, the rate of inflation decreased to 10.5% from 10.7% in November. The Office for National Statistics (ONS) reported that the decrease in the core consumer prices index (CPI) was due to the decreased...

Strikes in November 2022 cost almost 450,000 working days, the most in a decade.

Creative Media NewsWednesday, 18 January 2023, 3:000

Since 1990, there have not been as many strike days each year, with workers in the rail industry, the National Health Service, the postal service, and many other industries striking over pay and working conditions. According to official statistics, there were 467,000 working days lost to strike action in November of last year, bringing the...

Coronavirus limitations hurt 2022 Chinese economic development.

Creative Media NewsWednesday, 18 January 2023, 2:000

China’s economy grew at the second-slowest rate in nearly half a century last year, indicating that the country’s severe coronavirus laws have hurt enterprises. The gross domestic product (GDP) of the world’s second-largest economy increased by 3 percent in 2022, according to official data. This is well below the government’s goal of 5.5%, but better...

Train drivers will go on strike in February.

Creative Media NewsTuesday, 17 January 2023, 19:000

On February 1 and 3, train drivers will go on strike after union leaders rejected a salary offer from rail firms. To end a protracted disagreement over wages and working conditions. Drivers were promised a 4% raise for two consecutive years earlier this month. However, the compensation agreement rested on several adjustments to working standards....

UK battery startup Britishvolt requests administrators.

Creative Media NewsTuesday, 17 January 2023, 17:000

The company informed that workers were needed to undergo voluntary wage cutbacks as it awaited critical government financing. Despite formerly having hoped to place the UK at the “helm of a worldwide green industrial revolution.” Battery start-up Britishvolt has filed for the appointment of administrators after being unable to find a buyer. A court document revealed the...

Pay climbs fastest in 20 years, below inflation.

Creative Media NewsTuesday, 17 January 2023, 11:000

The pace of wage growth is the highest it has been in over two decades. Yet it is still insufficient to keep up with inflation. The average wage, including and excluding incentives, increased by 6.4% between September and November of 2021 and 2022, according to government data. It is the fastest gain since 2001, excluding...

Marks & Spencer’s £480m investment in new stores will create 3,400 jobs.

Creative Media NewsTuesday, 17 January 2023, 7:000

M&S is opening new stores across the United Kingdom that are designed “with families in mind” as part of a massive investment that could revitalize abandoned Debenhams storefronts on High Streets and within famous shopping centers. Marks & Spencer will establish twenty new stores and generate thousands of new jobs thanks to a £480 million...

Britishvolt hoping for last-minute rescue.

Creative Media NewsTuesday, 17 January 2023, 2:000

It is hoped that a last-minute bid for Britishvolt, which aims to build a facility to produce electric car batteries, would prevent it from going bankrupt. The potential new bidder was identified as “a British consortium” by someone with knowledge of the situation. The financially struggling business conducted a management meeting today and has rescheduled...

Struggling finance group MJ Hudson to reveal bids

Creative Media NewsMonday, 16 January 2023, 6:000

The asset management consulting firm, whose shares were banned last month due to alleged accounting problems, has engaged consultants to solicit interest in its divisions. A troubled financial services company whose shares have been suspended due to alleged accounting irregularities will report this week that it has received takeover offers for portions of its firm....

Transport minister allows rail businesses to make new union offer this week.

Creative Media NewsSunday, 15 January 2023, 14:000

The transport secretary has “permitted” rail operating companies to make a new offer to railway unions this week to end months of strikes. Since taking over the position from Grant Shapps, Mark Harper tells that he has given corporations a “new mission” and made “major changes” in discussions. Mark Harper informed that he had given the...

Channel 4’s Cheshire is Land Securities’ next chairman.

Creative Media NewsSunday, 15 January 2023, 4:000

Sir Ian Cheshire, the chairman of Channel 4 who was intimately involved in discussions around the broadcaster’s now-abandoned privatization, is the leading contender to manage Landsec, a shareholder of Bluewater. The FTSE-100 property giant Land Securities Group is planning to appoint one of Britain’s most renowned board members as its next chairman. Sir Ian Cheshire,...

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