UK jobs market still holding up despite recession warnings August 12, 2022 The UK jobs market is defying gloomy recession forecasts, but economists have warned joblessness could rise as the country limps into the worst of the cost of living crisis, a new survey published today reveals. Vacancies surged to 1.85m last month, the highest this year, in a sign employers are still trying to grab new [...]
Ailing Haleon drags FTSE 100 lower as traders cheer cooling US inflation August 11, 2022 An ongoing slide in GSK and its consumer pharmaceutical spin out firm Haleon’s shares dragged London’s FTSE 100 lower today. The capital’s premier index fell 0.55 per cent lower to 7,465.91 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped 0.26 per cent to [...]
Truss backs Bank of England review to ensure ‘it is fit for purpose’ August 11, 2022 The biggest overhaul of the Bank of England in 25 years may be needed to ensure “it is fit for purpose,” Tory leadership front-runner Liz Truss’s campaign told City A.M. today. The comments represent an escalation in Truss’s drive to shake up the regime overseeing the Bank’s performance. She has promised to review Threadneedle Street’s [...]
Economic slowdown set to hit legal sectors’ bumper profits, new research shows August 11, 2022 The past year’s boom in dealmaking acted as a boon to the UK’s legal sector in leading to a major uptick in work for British clients. However, the economic downturn could reverse law firms’ fortunes and dent their profitability, new research from Thomson Reuters shows. Global law firms operating in the UK market saw their [...]
Why bargain hunters should be shopping in Europe, not the US August 11, 2022 | City Talk Value stocks in Europe are the “unloved of the unloved”, but they have actually offered more growth than growth stocks. Here, three charts tell the story. The value investor has become something of an endangered species over the last decade, pushed to the side-lines of a market fixated on seeking never-ending growth in areas such [...]
Four charts that make the case for value investing August 11, 2022 | City Talk The more the world changes, the more value investing remains a compelling investment strategy. Here’s why “Plus ça change, plus c’est la même chose”. Or, in English: “The more things change, the more they stay the same”. Nowhere is this more true than in the realm of value investing. Throughout history, humankind has faced profound [...]
What is happening with EUR/USD, GBP/USD and AUD/USD prior to the US CPI release August 11, 2022 | City Talk EUR/USD remains rangebound as the price rises into resistance EUR/USD has been trading within a range over the course of the past three weeks, with the price spending much of this week rising back towards the confluence of trendline and 200 simple moving average (SMA) resistance. The wider bearish trend does bring expectations of another turn lower before [...]
US inflation under shoot boosts London’s FTSE 100 and Wall Street August 10, 2022 City traders today were boosted by signs of inflation cooling in the world’s biggest economy sparking a rally on Wall Street. London’s premier FTSE 100 index climbed 0.25 per cent to 7,507.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged nearly two per [...]
US inflation cools quicker than expected in sign Fed’s rate hikes are quashing prices August 10, 2022 US inflation is cooling much quicker than experts are betting in a sign the Federal Reserve’s series of steep rate hikes are quashing price pressures. Prices climbed 8.5 per cent annually in the world’s biggest economy last month, down from a 40-year high of 9.1 per cent, the US Labor Department said today. Wall Street [...]
Rampant inflation to put public services under ‘visible strain’ unless government ramps up spending August 10, 2022 Rampant inflation is putting the NHS and other public services “under considerable, and visible, strain,” top economic experts have warned today. Government departments and local councils are set to struggle to provide services to taxpayers due to swelling costs eating up their budgets. Higher inflation will erode more than 40 per cent of announced funding [...]