Nurses leave NHS for retail jobs because ‘they can’t afford it’

Creative Media NewsSaturday, 1 October 2022, 3:000

The report also warns that some nurses are skipping meals to feed and clothe their children and that mounting costs are making it harder for frontline staff to travel to work. A survey warns that as a result of the cost-of-living crisis, NHS employees are leaving for higher-paying positions in retail and hospitality. According to...

EU agrees to tax energy businesses’ windfall profits

Creative Media NewsSaturday, 1 October 2022, 2:000

The European Union has agreed to adopt emergency measures to tax the record earnings of energy companies. Ministers have agreed to impose windfall taxes on certain energy businesses and mandate electricity consumption reduction. The idea includes a tax on the excess profits of fossil fuel companies and a tax on the excess revenues generated by...

Despite a forecast fall, the UK economy grows by 0.2%.

Creative Media NewsSaturday, 1 October 2022, 1:000

The Office of National Statistics’ upward revision of GDP for the second quarter indicates that the UK is not in recession, as projected by the Bank of England earlier this month, but is below its pre-pandemic peak, contrary to earlier estimates that it had recovered. The British economy expanded by 0.2% in the three months...

£1bn Serco pension fund seeks a loan from an outsourcer in volatile market conditions.

Creative Media NewsSaturday, 1 October 2022, 0:000

Serco’s pension trustees requested a standby credit facility in response to a rise in demand for collateral caused by a rise in gilt yields. The pension schemes of Serco, the government contractor, have reached out to their sponsor for financial assistance in the wake of this week’s volatile financial market fluctuations. The outsourcing giant’s pension...

The UK is not in recession, according to fresh data.

Creative Media NewsFriday, 30 September 2022, 16:000

According to revised government figures, the UK economy expanded in the second quarter of this year, contrary to an early reading that indicated a contraction. The Office of National Statistics (ONS) said that economic output increased by 0.2% between April and June, up from an earlier estimate of -0.1%. It indicates that the United Kingdom...

Expenses for energy will increase, but this will help cushion the blow.

Creative Media NewsFriday, 30 September 2022, 12:000

On Saturday, energy prices will climb for millions of homes, although the increase has been mitigated by a government cap on unit costs. It intervened after a planned 80% hike in home gas and electricity prices for the first half of winter was announced. The average yearly fee will increase from £1,971 to £2,500 but...

Mitchells & Butlers, owner of All Bar One and Toby Carvery, says yearly energy bill is £150m and will grow again.

Creative Media NewsFriday, 30 September 2022, 8:000

Mitchells & Butlers, a pub operator, has warned that its yearly energy costs will nearly quadruple from pre-pandemic levels. The owner of All Bar One and Toby Carvery predicted that energy expenditures for the previous fiscal year would total £150 million, compared to £80 million for the year ending September 2019. In addition, it cautioned...

Former Bank governor claims the government is undermining British institutions.

Creative Media NewsFriday, 30 September 2022, 3:000

Mark Carney, former governor of the Bank of England, has accused the government of “undermining” the country’s most important economic institutions. Mr. Carney told that the Bank and the government’s tax cuts were “operating at cross-purposes.” He also cited the Office for Budget Responsibility’s (OBR) choice not to release economic estimates with Friday’s “mini-budget.” The mini-budget...

Submit meter readings to save money, say energy experts.

Creative Media NewsThursday, 29 September 2022, 19:000

Submitting meter readings before October 1 can prevent energy provider websites from crashing as millions attempt to avoid paying the upcoming higher energy bill. Households have been asked to submit meter readings to energy providers before Saturday’s energy cap increase. According to energy experts, submitting up-to-date readings before then will prohibit companies from estimating electricity...

NEXT’s sales and profit guidance lowered by the cost of living problem sends UK stocks tumbling.

Creative Media NewsThursday, 29 September 2022, 17:000

Next’s shares tumble 10%, while rivals and other consumer-facing businesses also decline, as the high street stalwart warns that it expects sales growth to vanishing in the second half of its fiscal year. After Next, a fashion-to-homewares retailer lowered its sales prediction for the second half of its fiscal year and its annual profit guidance,...

Former Bank governor claims the government is undermining British institutions.

Creative Media NewsThursday, 29 September 2022, 15:000

Everyman’s boss is optimistic Britons will still go to the movies despite the cost-of-living crisis.

Creative Media NewsThursday, 29 September 2022, 10:000

Everyman Media Group claimed a reduction in its first-half losses, praised its “strong” customer base and stated that it expects to “at least meet” market expectations for the remainder of the year. The upscale cinema group’s pre-tax losses fell to £798,000 during the year, down from £9.2million the previous year, on revenues of £40.7million, up...

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