There is more evidence that the cost-of-living crisis is taking its toll, with British consumer confidence falling to its lowest level since the 2008 financial crash. A PwC index fell to minus 20 in March, down 30 points from last June. Concerns about lower incomes and rapid bills were cited as the main concerns. It comes after the energy price ceiling rose by more than 50% last week, raising bills for the average household by 3 693. Upcoming tax increases and persistent inflation are also hurting household budgets.
5 things to start your day with
- The price of a liter of milk will increase by 50%, warns industry Dairy bosses from the UK and Europe flew to Brussels last week for crisis talks on the rising cost of feed, fertilizer and fuel
- Government pressures video game companies to ban children from buying loot boxes Ministers allegedly telling companies that failure to self-regulate would mean new laws to address the use of controversial objects
- German gas projects could cause “structural damage” to its industrial location, warns Deutsche Bank Vladimir Putin has threatened to cut gas supplies to Germany after Berlin’s refusal to pay in rubles.
- The government is urged to launch a skilled refugee visa to address the lack of technological skills in the UK The meeting between Zopa Bank and the ministers comes weeks after the lender’s commitment to hire 50 professionals from Ukraine
- What’s happening at Barclays? The latest scandal causes new concern A young man at the top, but the second big embarrassment of the bank in six months
What happened overnight
Shares in Asia were mostly higher this morning as gains moved from the strong finish last week on Wall Street. Tokyo, Hong Kong and Seoul advanced while Shanghai was closed due to holidays. Oil prices moved higher and US futures contracts remained virtually unchanged.
He is coming today
Company: Belvoir Group, Impax Environmental Markets, Provident Financial (full year) Finance: Factory Orders (United Kingdom)
