New figures have cast doubt on London’s post-pandemic recovery, with around half of workers still avoiding a return to the office.
At the end of September, attendance in the capital was only half of its pre-Covid level, according to the Center for Cities. It is the lowest in the country, with the airport hubs of Luton and Slough also in the bottom five.
Overall, the think tank’s weekday attendance gauge fell from 60% at the end of August to 67% last month in 63 towns and villages, despite hopes of a more widespread return to the office.
5 things to start your day
1) Jim Ratcliffe predicts winter energy crisis, blames government The billionaire industrialist blamed ministers for Britain’s gas crisis and warned the sky-high prices would last all winter.
2) Harry and Meghan’s favorite investment start-up, Inside Ethic The UK-founded asset manager claims A-lister endorsements and dogs with job titles, but experts warn his focus on ESG is a big risk.
3) Sir Terry Leahy loses £ 30million on Hut Group Stocks fell further on Wednesday and analysts lowered their forecasts after a meeting with investors went sour this week.
4) Post-Covid rate hike will cost homeowners £ 800 per year The Bank of England was planning to raise interest rates from the current record low to a post-financial crisis high of 1pc in 2022.
5) Air fares will skyrocket thanks to Brussels biofuel rules, warns Willie Walsh Former BA boss says airlines forced by EU to increase sustainable fuel use will pass costs on to passengers
What happened during the night
Asian markets rose mainly on Thursday morning before China announced that factory exit inflation hit its highest level in a quarter of a century in September due to soaring commodity and fuel costs. soaring demand when economies reopen. Tokyo, Sydney, Seoul, Wellington, Taipei, Manila and Jakarta all rose, while Shanghai hovered between positive and negative territory. Singapore plunged in the wake of the city’s surprise central bank policy tightening.
Temporary workers: Ashmore
Trade Update: Dunelm, Hays, National Express, Rank Group, Domino’s Pizza
Economy: RICS house price balance (UK), inflation (China), producer price index (US), jobless claims (US), Bank of England credit terms