UK facing income squeeze and rising destitution; ‘Britcoin’ consultation launched; Tesla shares slide – as it happened

Rolling coverage of the latest economic and financial newsLatest: Consultation on UK central bank digital currency next yearNIESR says household incomes face painful squeeze and destitutionTesla shares slide againUK grocery inflation hits 14-month high, as Christmas spending starts earlyPrimark announces expansion plans… and sees supply chain issuesFederal Reserve worried that prices of risky assets keep risingAssociated British Foods also points out that Brexit has “exacerbated” the shortage of lorry drivers in the UK, which is one cause of supply chain problems.In today’s annual results, it says:Our businesses are reliant on the availability of skilled HGV drivers.Whilst there is c..

The Guardian > Economics

UK plc risks long-term stagnation and rising destitution, warns top thinktank

NIESR blames deepening malaise on economic mismanagement since 2008 amid criticism for BoE and BrexitBritain’s economy risks emerging from the pandemic into a long period of stagnation that damages household incomes and undermines plans to level up the regions, according to a hard-hitting report by the National Institute of Economic and Social Research.As it downgraded growth forecasts for next year and predicted a rise in prices that could push inflation above 5%, the thinktank accused the government and the Bank of England of mismanaging the economy since the 2008 financial crash. Continue reading...

The Guardian > Economics

Herbal Supplement Giant To Enter THC, Psychedelics Industries, Seeking To Become First Household Brand To Do So

Exclusive details on the imminent entry of Irwin Naturals into the psychedelics and THC industries.

Forbes > Money Herbal Supplement Giant To Enter THC, Psychedelics Industries, Seeking To Become First Household Brand To Do So