Slashing taxes on fuel would half the cost of filling up a car June 10, 2022 The cost of filling up a car in the UK would be nearly half the price if all taxes on fuel were scrapped, reveals analysis shared exclusively with City A.M. Nearly 50p of every £1 spent on filling up a car in the UK is swallowed up by tax, according to research by the TaxPayers’ [...]
Inflation jitters deal chilling blow to London markets June 10, 2022 Fears over inflation dealing a chilling blow to the global economy and the prospect of a more restrictive monetary policy environment weighed on London markets today. The capital’s premier FTSE 100 index dipped 0.94 per cent to 7,405.77 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
1 Minute Market Rundown – 10th June 2022 June 10, 2022 | City Talk Trade the ExtremesCrypto Needs to Bounce SoonWhen to Buy the Dip? Yesterday saw a lesson on how not to act like a Central Bank from the ECB. In over 25 years of trading I have rarely seen a less impressive performance at a press conference than we got from Lagarde. The plan was clear. Tell [...]
UK jobs market tension shows little sign of unwinding June 10, 2022 Tension in the UK jobs market shows little sign of unwinding as employers continue to struggle to find workers amid a shallower labour pool, reveals a closely watched survey today. Vacancies edged lower in May, indicates 71 reading on KPMG and the Recruitment and Employment Confederation’s (REC) employment index. Despite falling, the reading is far [...]
Retailers tumble as investors fret over spending squeeze June 9, 2022 Retailers took a tumble in London today driven by investors fretting over the impact of the cost of living crunch on the sector’s bottom line. The capital’s premier FTSE 100 index slid 1.54 per cent to 7,476.21 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Thousands of jobs at risk after Sanjeev Gupta’s GFG Alliance loses bid to throw winding up order out of court June 9, 2022 Three of the firms that make up Sanjeev Gupta’s steel empire could be plunged into administration imminently, after a court rejected GFG Alliance’s bid to have a winding up order thrown out of court. The court ruled that the metals group’s financial difficulties were not due to Covid-19, as it rejected GFG Alliance’s claims the [...]
PM declares end of high tax and spend as he says govt will ‘get out of the way’ June 9, 2022 Boris Johnson has indicated a major reset in the direction of his government, with the Prime Minister declaring the end of Covid-era “corporate welfare” and that now is the time to “stop spending and start cutting taxes and cutting regulation”. Johnson said “the overall burden of taxation is now very high”, after himself increasing the [...]
Almost 60 per cent of the country is in debt with amount owed rising to almost £4,000 in year ahead June 9, 2022 Almost sixty per cent of the nation is currently in debt and the average amount owed is set to rise by 11 per cent to £3,834 in the year ahead. The deepening cost of living crisis is eating away at people’s savings, while average Brits are set to lose almost £1,500 in disposable income a [...]
European Central Bank confirms first rate rise in over a decade next month June 9, 2022 The European Central Bank (ECB) today confirmed it will hike rates for the first time in over a decade in a sign that the era of loose policy and low inflation is coming to an end. President Christine Lagarde and co said the central bank will lift rates 25 basis points next month, which will [...]
1 Minute Market Rundown – 9th June 2022 June 9, 2022 | City Talk Trade the ExtremesCrypto Needs to Bounce Soon A pretty quiet day yesterday, Euro was the biggest mover gaining against most currencies ahead of the ECB. Today marks the start of a big 48 hours for the broader risk markets with CPI tomorrow out of the USA preceded by the ECB rate decision at 12.45 and [...]