The Times - Inflation has probably peaked and should fall to 4% by the end of the year, the Bank of England has said, adding that Britain is still expected to enter a recession but it will be shorter and shallower than previously thought, as it raised interest rates to 4%. - Heathrow Airport chief executive John Holland-Kaye will step down after nine years at the helm of Britain's biggest aviation hub and a process is underway to find his replacement. The Guardian - The government is under pressure to rethink its windfall tax on energy companies after Shell Plc reported one of the largest profits in UK corporate history, with opposition parties and trade unions describing it as "outrageous" and accused Rishi Sunak of letting fossil fuel companies "off the hook." - About 115,000 postal workers at Royal Mail are to stage a 24-hour strike on Feb. 16 in their continuing dispute with management over pay and conditions.
The Telegraph - Britain's workforce will be permanently smaller after the COVID-19 pandemic, the Bank of England has warned, putting the economy on a path of stagnation. - British Airways and Virgin Atlantic will restart flights to China for the first time since the pandemic but with two hours added to the journey time as the airlines avoid Russian airspace. Sky News - UK's energy regulator Ofgem has asked suppliers to suspend the forced installation of prepayment meters and review their processes for dealing with customers who have fallen into arrears. - Business Secretary Grant Shapps has told British Steel's Chinese owner, Jingye Group , that proposals to make hundreds of workers redundant are "unhelpful" amid negotiations over a 300 million pound ($366.36 million) taxpayer support package. The Independent - Heathrow Airport is still on course to expand, its outgoing chief executive John Holland-Kaye has insisted, with the coronavirus pandemic demonstrating how crucial it is to build a third runway. ($1 = 0.8189 pounds) (Compiled by Bengaluru newsroom)
