Brits cling onto pandemic savings amid economic uncertainty May 4, 2022 Brits are clinging on to their pandemic saving war chests in a sign that the UK could be headed toward a recession this year, reveals official figures published today. Rampant inflation is failing to push households into drawing down money set aside during lockdowns, suggests data from the Bank of England. Savings – including those [...]
Chinese refineries reportedly snapping up Russian oil on the cheap May 4, 2022 Independent Chinese oil refiners are reportedly snapping up cheap Russian fuel, which could draw the ire of the United States and United Kingdom. Firms have reportedly continued making deals since the start of the war, while state-run energy companies publicly halted new contracts. The buying of discounted oil by independent refineries by China, according to [...]
Deforestation: what could be the market impact of new EU ban? May 4, 2022 | City Talk The EU looks set to require companies to demonstrate that agricultural products they import do not contribute to carbon dioxide (CO2) emissions and climate change through deforestation. The bloc is finally making efforts to ensure more sustainable consumption habits, with new legislation aimed at curbing deforestation and forest degradation linked to imported commodities such as [...]
Where are the opportunities in a disrupted US auto sector? May 4, 2022 | City Talk Worldwide automobile production is struggling to keep up with demand, mainly due to shortages in semiconductors and supply chain disruptions. Geopolitical unrest is causing further declines in production estimates and applying the most pressure to European output. Russian auto production is expected to collapse. German auto original equipment manufacturers (OEMs) are facing factory slowdowns due [...]
Earth Day 2022 Q&A: Everything you need to know May 4, 2022 | City Talk When Earth Day 2022 is celebrated around the world on Friday 22 April it will be its 52nd anniversary. But what is its history and what progress, if any, has been made since it was first celebrated in 1970? What is Earth Day? Earth Day is an annual global event to demonstrate support for environmental protection [...]
Cost of living crunch to deliver shock to UK households’ balance sheets May 4, 2022 Households’ balance sheets are set to be tainted by problem debt this year, driven by the worsening cost of living crunch forcing Brits to turn to credit cards to pay bills, reveals fresh analysis published today. Accelerating inflation over the course of this year is likely to spark a jump in unsecured lending, credit that [...]
IFS: Top City brass pocket decade-beating payouts May 4, 2022 Top bosses in the City are pocketing bumper payouts not seen for a decade, reveals analysis published today by a leading economic think tank. Growth in average pay packets in the Square Mile has far outstripped the rest of the economy since just before the onset of the Covid-19 crisis, according to the Institute for [...]
Decade-high BP profit take boosts London’s FTSE 100 May 3, 2022 The best underlying profit take from one of the UK’s biggest oil giants in a decade sent London’s top index higher today. The capital’s FTSE 100 index climbed 0.22 per cent to close at 7,561.33 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped [...]
Head and shoulders above the rest May 3, 2022 | Sponsored Gail and Matt Waterman’s company is literally a growth business – it specialises in revolutionary products for hair loss problems. A kitchen table business that has blossomed into something quite remarkable, so remarkable in fact that in less than a decade it has gone from selling two items a day to 500,000 each month and [...]
Unimed Procurement Services making a difference in global medical procurement May 3, 2022 | Sponsored Shameet Thakkar is on a mission, a humanitarian mission, and since setting up his company nothing has stopped his drive nor blunted his zeal – not even a global health pandemic. He set up Unimed Procurement Services (Unimed) to “make a difference” in acting as a trustworthy and reliable procurement agent for international aid, charities [...]