Rolling coverage of the latest economic and financial news
- Latest: US factory orders dip amid supply problems
- Greggs chicken bakes hit by supply shortages, reports say
- Iceland boss warns that supply chain crisis threaten Christmas
- Need to put HGV drivers on list of essential skilled workers
- Richard Walker: Self-inflicted wound after Brexit
- Supply chain crisis affecting retailers stocks and food ranges
- Coop boss: Food shortages worst I have seen
- FTSE 250 record high..Takeover battle may put Morrisons into FTSE 100
In a development that could intensify the crisis in the UK’s supply chains, Yodel’s delivery drivers are voting on whether to go on strike.
“Yodel has seen fit to pick a fight with its loyal workforce in the midst of a chronic, nationwide driver shortage.”
Related: Yodel drivers begin strike vote, raising fears for UK supply chains
Insurers could face disciplinary action after the City watchdog said UK firms were not ready for stricter rules on price hikes on car and home insurance.
The Financial Conduct Authority said too many firms were failing to meet existing regulatory standards and were also unlikely to be prepared for tougher rules meant to ensure insurers offered better value for money policies to existing customers from this October.
Related: UK insurers unready for stricter rules on price hikes, watchdog says
“The FCA is increasingly focusing on broader outcomes for consumers and making sure that they receive fair value for products, not just “tick-box” compliance.
This is a clear warning from the FCA that they think some insurance firms will not be able to meet the new regulatory standards unless they improve quickly, in time for October.”
