Business Update – 21 December 2022

Business Update – 21 December 2022

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Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

EU agrees to gas price cap

After weeks of talks, the 27-country European Union has agreed on a gas price cap to lower high gas prices that have caused citizens’ energy bills to rise exponentially and driven record-high inflation this year.

565,000 more Brits aren’t working and also not actively seeking a job than in 2019

The UK has seen the fourth-highest increase in economic inactivity since the start of the Covid pandemic. It is one of only seven countries with a higher inactivity rate than before the Coronavirus crisis.

Tesco is involved in a lawsuit over terrible working conditions in Thailand

Tesco is facing a lawsuit over allegations that factory workers in a Mae Sot facility endure 99-hour weeks on low pay to make jeans for the supermarket’s F&F fashion brand.

Government extends scheme to help first-time home buyers

The government is extending the ‘generation buy’ mortgage guarantee scheme until the end of next year. The initiative supports banks and building societies that offer 95% loans to first-time buyers who struggle to raise a deposit.

Rail strikes affect retail sales during the holiday shopping season

Shopper numbers across Britain fell 4.6% last week versus the week before amid disruption to public transport, cold and snowy weather, and the RMT union-organised strike action across the network.

Jan. 6 committee recommends criminal charges

The January 6 Committee recommended that the Department of Justice look into four people, including former President Trump, for obstruction of an official proceeding, conspiracy to defraud the United States, and assisting, aiding, or comforting an insurrection.

Twitter users believe Elon Musk should step down

A Twitter poll created by Elon Musk asked whether he should step down as head of Twitter. Most respondents voted yes.

Best practices for building, growing and running a business

Dozens of highly successful entrepreneurs and executives share their hard-won lessons on everything from fine-tuning your leadership style to delegating like a pro to retaining your top-tier talent. Learn from their mistakes here.

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