UK jobs market wobbles after months of defying economic reality December 8, 2022 The UK jobs market is looking increasingly fragile after months of defying economic gravity, a new survey out today reveals. KPMG and the Recruitment and Employment Confederation’s (REC) permanent hiring index came in at 46.4 points last month, below the 50 point mark that separates growth and contraction. Despite the index indicating businesses are cooling [...]
Capital can’t be complacent about attracting new talent December 7, 2022 The perils of business journalism are many but one that is often under-remarked upon is the danger of drowning in data releases. Inboxes our end are full of new analyses, some of relatively questionable value, and it is sometimes hard to see the wood from the trees. Not so yesterday when the latest iteration of [...]
Exclusive: Treasury tax raid to drag 200,000 Londoners into higher rate December 7, 2022 NEW analysis suggests that almost a quarter of a million Londoners will be dragged into the higher rate tax band as a result of Jeremy Hunt’s decision to freeze income tax thresholds in the Autumn Statement. Some 213,165 workers in London, and 122,543 more across the wider south-east, will paying the 40 per cent rate [...]
FTSE 100 knocked by BP and Shell tumbling as oil prices slump December 7, 2022 London’s FTSE 100 was dragged down today by BP and Shell sinking on oil prices taking a tumble. The capital’s premier index fell 0.43 per cent to 7,489.19 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.89 per cent to 18,930.57 points. Oil [...]
Loosening Covid-19 laws in China will not be economy’s silver bullet, says ING December 7, 2022 The loosening of strict Covid-19 restrictions in China Is unlikely to be the silver bullet the local economy needs, according to banking giant ING. China announced today that it is further relaxing its pandemic measures, meaning only those working in high-risk positions and located in elderly homes, hospitals, child care and primary schools will need proof of [...]
FTSE 100 dragged down by strike sensitive stocks tumbling December 6, 2022 London’s FTSE 100 was dragged down today by companies that will likely suffer amid additional rail strikes over Christmas. The capital’s premier index dropped 0.61 per cent to 7,521.39 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 1.19 per cent to 19,100.08 points. [...]
FTSE 100 only major index to swerve loss this year December 6, 2022 London’s FTSE 100 has breezed past its major international rivals to emerge as the only blue-chip index to squeeze out a gain so far this year, research by City A.M. shows. The capital’s premier index has climbed around two per cent in pound terms in 2022 and is on track to end the year as the [...]
FTSE 100 lifted by China Covid-19 easing rumours December 5, 2022 London’s FTSE 100 was bumped higher today as investors were buoyed by signs Beijing is reeling back its tough zero-Covid policy. The capital’s premier index jumped 0.15 per cent to 7,567.54 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped 0.17 per cent to [...]
Ageing population and weaker post-Brexit migration has damaged UK economy, experts claim December 5, 2022 An ageing population, weaker migration inflows since Brexit and a sicker society due to the pandemic has damaged the UK long-term economy’s health, top City economists have warned. A steadily rising elderly population has resulted in a jump in Brits leaving the jobs market to take retirement or due to ill health, putting the workforce [...]
UK recession to officially begin this winter, City economists predict December 5, 2022 The UK’s recession will officially begin this winter and is likely to last for most of next year, a closely watched survey out today suggests. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) measuring private sector activity in November was unchanged at 48.2, the lowest number since [...]