Private sector firms are shedding staff at the fastest rate since the pandemic, new figures showed today.
On February 21, 2024, the FTSE 100 saw private sector firms shedding jobs at the fastest rate since 2020 due to higher payroll costs and weak demand. Four major City banks were fined over £100 million for sharing sensitive information about UK bond pricing. The FTSE 100 index rose slightly, with banking stocks performing well, while GlaxoSmithKline (GSK) dropped 3%. Consumer confidence showed a slight improvement, and public finances reported a significant surplus, reflecting economic resilience.
