Monday newspaper round-up: UK business confidence, lorry drivers, house sales
UK business confidence has jumped as firms anticipate the lifting of lockdown restrictions later this month, despite concerns over the rise in Covid-19 infections. A survey by accountancy and business advisory firm BDO found that firms were their most optimistic since 2005 in June. Manufacturing optimism rose sharply, due to improved global economic outlook driven by the Covid-19 vaccine rollout this year. - Guardian
The overwhelming majority of British workers would not want to see the introduction of a four-day working week if it meant taking a cut to their pay. Eight out of 10 British employees would not favour accepting a reduction in working hours if it resulted in lower wages, according to research by cross-party thinktank, the Social Market Foundation (SMF), with only one in 10 employees willing to work less and earn less. - Guardian
Ministers have launched secret talks on a short-term visa scheme for foreign lorry drivers as they race to prevent a shortage of staff from overwhelming the haulage industry. Officials at the Department for Transport (DfT) are consulting industry chiefs on how to tackle the crisis, with an estimated shortfall of 100,000 truckers delaying deliveries of everything from clothing to food and fuelling a rise in prices. - Telegraph
House sales have collapsed by more than half this month after Rishi Sunak reined in a stamp duty holiday which was helping to fuel the red-hot property market, estate agent Knight Frank has said. The number of property exchanges in the first week of July was 60pc below the five-year average for this time of year, it said, after buyers scrambled to complete deals before the end of June. - Telegraph
Businesses are gearing up for a boom in hiring and investment as economic activity returns to normal, reports say. While companies spent much of last year cutting costs, they are now taking advantage of record low interest rates and tax incentives to unleash investment to help meet rising demand. Hiring and investment will hit their highest level in almost seven years over the coming months, according to a report by Deloitte. At the same time, expansion through acquisition has become a higher priority than at any time in the past 11 years. - The Times