Zoom down as rail strikes force millions to work from home
Bosses have warned that continuing the strikes will cause “incredible” damage to the UK in the short and long term.
Businesses brace for disruption as the biggest walkout on Britain’s railways kicks off today.
The Center for Economics and Business Research has warned that the three strikes taking place today, Thursday and Saturday will have a knock-on effect of at least £91million on the UK economy.
Disruption is also expected on the days in between, as industry leaders have warned of further economic damage as workers choose to stay home.
5 things to start your day
1) German companies are paying the price for Russian energy dependence as distress mounts Berlin companies are the most exposed to default risk compared to their European counterparts
2) Online sales tax would cost families an extra £175 a year, Sunak says Proposed levy would be passed directly on to buyers, think tanks say
3) Ocado hit by ratings downgrade as it raises £575m for international push Grocer taps into market despite signs of inflation slowing down online retail revolution
4) Winter power outage fears spark coal rush across Europe The Netherlands, UK and Germany jostle for dirtiest fossil fuel
5) How the labor shortage is changing the food we eat The lack of seasonal workers puts pressure on farmers and changes the offer of supermarkets
What happened overnight
Hong Kong shares opened slightly higher on Tuesday morning, with the Hang Seng index rising 0.5pc.
The Shanghai Composite Index fell 0.05pc, while the Shenzhen Composite Index on China’s second-largest stock exchange was flat.
Tokyo stocks also opened higher. The benchmark Nikkei 225 index edged up 1pc.
- Company : DS Smith, Monks Investment Trust, Telecom Plus (annual results); Safestore (temporary)
- Economy: Sales of existing houses (WE)