Digital pound could make Treasury billions from seigniorage revenue April 29, 2024 "The government looks set to receive a significant windfall from the introduction of a digital pound in the coming years, which doesn’t seem to have yet factored into debates over ‘fiscal headroom’," Simon Youel, author of the research said.
‘Green shoots of recovery’ emerge as FTSE profit warnings fall on last year April 29, 2024 "Whilst the green shoots of recovery can be seen, companies cannot afford to ignore the warning signs and rely on economic resurgence," Jo Robinson, EY-Parthenon Partner and UK&I turnaround and restructuring strategy leader said.
UK pothole crisis costs £14.4bn every year from longer journey times and vehicle damage April 29, 2024 The bulk of the economic cost comes from longer journey times as nervous motorists attempt to limit the damage to their cars.
FTSE 100 today: London markets set to extend rally; US Fed decision, Apple, Amazon earnings in spotlight April 29, 2024 Asian shares rose alongside their US counterparts, with Hong Kong equities extending a rally for the sixth straight day. The Japanese yen plunged below ¥160, but authorities did not intervene due to the holiday, while oil and gold prices dropped. The focus remained on upcoming earnings reports from tech giants Apple and Amazon, along with the Fed meeting and jobs data.
Fed set to hold rates this week – but markets will look for clues on cuts April 28, 2024 The Fed is almost certain to leave rates on hold when it announces its decision on Wednesday, but markets will be paying close attention to the central bank's forward guidance.
Top forecaster says UK economy has reasons to be cheerful with stagnation to fall away April 28, 2024 The UK economy could be on the mend after it fell into a shallow recession last year as it battled high inflation and interest rates.
Bank of England to cut interest rates in August before the Fed, economists predict April 28, 2024 The Bank of England is expected start cutting interest rates in August before the US Federal Reserve, a City A.M. poll of top economists has revealed, as inflation edges back down to the government's two per cent target.
Half-a-million UK firms ‘financially distressed’ and thousands face insolvency as they ‘pin hopes’ on rate cuts April 26, 2024 Nearly half a million UK businesses continue to face 'financial distress,' new research finds, with tens of thousands facing the possibility of insolvency within the next 12 months.
FTSE 100 today: London markets set to open higher on the heels of strong US tech earnings April 26, 2024 Asian stocks rallied alongside a strong tech sector fuelled by impressive US earnings. Bank of Japan maintained its short-term interest rate target at 0-0.1 per cent. Oil prices climbed, while Microsoft and Alphabet shares surged post-earnings beats. Investors await US inflation data and focus on ExxonMobil and NatWest earnings.
Alphabet surges 11 per cent on strong earnings, unveils first dividend payout April 26, 2024 Alphabet shares surged in after-hours trading on Thursday after Google's parent company impressed investors with a blowout first-quarter earnings report and initiated a $70 billion stock buyback program alongside its first-ever dividend declaration.