UK real wages start to fall as inflation bites

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The Pay squeeze It is here. The Office for National Statistics said this morning that real wages in the UK fell year-on-year in November for the first time since July 2020. Rising inflation reduced real average weekly income for the month by 1%.

The rest of the ONS data shows a booming labor market (see my comment pick on the day below for more information). The unemployment rate has almost returned to pre-Covid levels, redundancy is at its lowest level since the record began, and salary employees increased by 184,000 in December and then 409,000 above February 2020 levels. Vacancy is even higher than ever, as employers struggle to play a role.

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Simply put

Online beauty and nutrition retailer THG He said the full-year margin would be lower than expected after the currency’s move, at 7.4-7.7% instead of the analyst’s expectation of 7.9%. Raw material prices and shipping costs will continue to be heavy in the first half of this year, but profit margins should improve in the second half of 2022. Fourth-quarter revenues were reported to have increased by 27% (backed by acquisitions), up from the previous quarter. It can be delayed between 22 and 25 percent in 2022.

Petershill PartnerAn alternative asset manager that emerged last year said it invested cash at a faster pace than expected at the time of the IPO. The Goldman-linked vehicle said it bought $ 458 million in shares of a private equity firm’s general partner in the fourth quarter of this year, more than half of which was funded at the time of the transaction. The acquisition “is immediately added to the consensus earnings forecast,” Petershill said.

Payments Systems Regulator has fined five companies, including: master Card, for cartel Behavior Prepaid card market.. The two companies agreed not to compete with or poach each other’s customers in the market for the cards used by local governments to distribute welfare payments. Mastercard occupies the Lions share with a fine of £ 31.5m. Last year, PSR released preliminary findings.

Also, today we are releasing a product update for the fourth quarter. Rio tinto, Semi-annual renewal for retailers Hotel Chocolat, This year’s transaction is slightly higher than management’s expectations, year-end renewal from the gambling group 888 Holdings..And that Financial Reporting Council Announced a three-year plan and budget in preparation for the transition to an auditing, reporting and governance body.

Beyond square miles

Of black rock Larry Fink Using an annual letter to the CEO, he rejected the accusations of “awakening.” Asset Management Team Report..Blackrock vocal stance ESG The investment has been criticized (reluctant to sell from large emitters). “Stakeholder capitalism is not about politics,” Fink said in a letter entitled “The Power of Capitalism.” “It’s not a social or ideological agenda. It’s not” awakened. ” It’s capitalism … “

Outgoing boss Intelsat Will be $ 4 million Golden Goodbye After the company exits Chapter 11 Bankruptcy Protection. This follows the $ 10 million payment in 2020, when satellite operators sought court protection to restructure their $ 16 billion debt burden. Peggy Holinger Report..

And a group representing some of the largest producers European metal industry He called for the release of gas reserves to keep prices down and urged Brussels to act now or face another wave of plant cuts and closures.Natural Resources Editor Neil Hume more..

Rex Focus on Brexit, a vibrant city employment market. Bumper bonus season..

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