After years of stratospheric growth, plant-based foods are expected to continue comprising a bigger share of menus, plates and stomachs, potentially growing from a $29.4 billion market in 2020 to more than $162 billion in 2030, per Bloomberg Intelligence. The shift has even impacted the QSR industry, with Chipotle and […]
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Reform housing support or face a tidal wave of repossessions, think tank warns
Repossessions could spike unless government housing support is urgently reformed, a think tank has warned. The Centre for Policy Studies urged ministers to immediately overhaul the Support for Mortgage Interest scheme to prevent a wave of low income households losing their homes. The SMI scheme allows people who receive benefits […]
Fears that second Covid wave will be ‘knockout punch’ for high streets
Amid fears of a resurgence of coronavirus in the UK and the implementation of stricter controls, Mr Sunak launched his winter economic plan last week. Retailers were left disappointed as the Chancellor did not extend a business rates holiday, which is due to end in April. Industry bosses warned of […]
Britain braces for an unprecedented wave of insolvencies
A fresh tightening of coronavirus restrictions threatens to force businesses back into hibernation just as some were beginning to see light at the end of the tunnel. By contrast, bankers specialising in restructuring struggling companies have been so busy, they are calling their old bosses out of retirement. “You’re seeing […]
Second virus wave will slam breaks on recovery, OECD warns
Resurgent Covid-19 cases next year could slash the global pandemic recovery in half at a cost of trillions of dollars, the Organisation for Economic Cooperation and Development (OECD) has warned. The think tank’s latest outlook predicts a shallower 4.5pc slide in world growth this year than it initially feared in June […]
Why a second wave may mean a double dip downturn
However, the second wave in cases has crucially not led to a large increase in hospitalisations and deaths in Spain with infections being borne largely by the young. That has led Spanish authorities to resist harsher measures and could also help Westminster hold off from reimposing the most economically damaging restrictions if […]
‘We’re not going to beat the second wave’
At lunchtime on Tuesday, Sir John Bell received a call telling him that the groundbreaking Oxford coronavirus vaccine trial would, regretfully, be paused. Hours later, news of an urgent investigation into an “unexplained illness” in one of the trial volunteers began spreading across the world. It was, as White House […]
The wave of staycations helping to turn the tide for coastal resorts
Coastal areas score highly in the Government’s deprivation index, with many of the poorest lining the coast in the North East, East and South West of England. Henry Overman, professor of economic geography at the London School of Economics, explains the decline is then worsened by a brain drain. “The […]
Second wave could spell disaster for oil prices
While the oil shocks of April now seem a distant memory, there is mounting evidence that a second wave of Covid-19 could send prices spinning into a nosedive once more, upending markets reliant on energy such as the Middle East and the US. The virus has sickened more than 14 […]
Wave of new bank bosses set to shake up finance sector
Nevertheless Frumkin is confident that with a little more competition in the UK banking sector Metro can still take on the big, traditional banks. “The world is changing, but what people want from their banks isn’t,” Frumkin adds. “We need to level the playing field so challengers of scale like […]