Weekly Digest – 23 August 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Interest payments on government debt leap 63% over the past year
The Office for National Statistics says that government borrowing hit £4.9bn in July, dwarfing the £0.2bn forecast by its own independent financial watchdog, the Office for Budget Responsibility.
Cineworld prepares for bankruptcy
UK-based Cineworld, the world’s second-largest cinema chain, is preparing to file for bankruptcy within weeks. Despite some recent blockbuster films, it hasn’t been enough to recover from the devastating effects of the pandemic.
Brexit opportunities minister thinks that we need to work harder
Jacob Rees-Mogg has defended Tory leadership frontrunner Liz Truss’ suggestion that British workers need “more graft.” He is tipped for a cabinet position should Truss form government.
More people turning to technology to battle the “summer of lost luggage”
Reports of lost luggage are up 30% from 2019, the last summer of regular travel before the pandemic. As a result, many people are using AirTags or GPS technology to send with their bag before checking it for a flight.
One of UK’s richest people eyes a stake in Manchester United
Sir Jim Ratcliffe has built a multi-billion pound business by buying unloved assets. Now, one of the UK’s richest people wants to buy Manchester United. You can learn more about him here.
The European zones trying to avoid a recession
Most of the world is battling inflation, but war, drought, and Covid have made the situation in some European countries worse than others.
Why you’re more careful with cash than with a card
With inflation raging and real wages falling, more and more of us are going back to cash to stay on top of spending. The cost of living crisis is causing many people to ditch their cards entirely.
Energy crisis prompts talk of a “lost generation” of small businesses
Across the UK, a growing number of cafes, restaurants, shops, and salons are closing their doors for good because of record inflation, with some reporting tenfold increases in utility bills.
Ugly vegetables are coming and we just have to get used to it
Many areas of the UK had very low rainfall in 2022, and as a result, parts of England are experiencing drought. Fruit and vegetables on the shelves will be smaller and look different as the summer’s hot and dry weather hits crops.
Stay on top of who’s striking next
As the summer wears on, the strikes continue. Sky News has rounded up those expected to strike next. The roundup can be found here.
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