Brexit red tape onslaught deepens as UK economy loses £47bn because businesses drown in cross-border tax complexities May 18, 2022 Cross-border tax complexities cost the UK economy £47.6bn in lost revenue last year, an average revenue loss of 16 per cent on total EU exports, according to fresh industry data shared with City A.M. this morning. The stresses of navigating complex regulations post-Brexit continues to hold back growth for UK exporters, and is causing significant [...]
Bank of England to launch brisk rate hike cycle to tame 40-year high inflation May 18, 2022 The Bank of England will have to launch a cycle of steeper and quicker rate hikes to tame the steepest rise in living costs in four decades, according to City economists. The case for front-loading rate rises is strengthening after new figures published this morning by the Office for National Statistics (ONS) revealed inflation climbed [...]
1 Minute Market Rundown – 18th May 2022 May 18, 2022 | City Talk Trade the ExtremesUSD Gives Up Some of its GainsCrypto Consolidates There is not too much to add from yesterday’s piece sadly. The main talking point was Powell reiterating the FED’s stance on inflation. Powell said the FED won’t hesitate to tighten policy beyond neutral to curb inflation. Stock’s stalled their recent rise and the USD [...]
UK inflation hits 9 per cent: 40-year high as country wrestles cost of living crisis May 18, 2022 UK inflation has hit 9 per cent, a 40-year high, as the country wrestles with a cost-of-living crisis. Top economists have pegged inflationary headwinds to hit double figures by the end of the year, as food, energy and other household services and goods spiral in cost. Food products and metals have seen the largest leaps [...]
Investors look through inflation headwinds to focus on strong earnings May 17, 2022 Investors dismissed concerns over inflationary pressures firming in the UK economy and focused on a string of positive company earnings, lifting London’s indexes today. The capital’s premier FTSE 100 index climbed 0.72 per cent to 7,518.35 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Bets on US recession ‘badly misplaced’ after strong retail sales May 17, 2022 Bets on the US economy tipping into a recession “look badly misplaced” as consumer spending shows little sign of cooling amid historically high inflation That’s according to Wall Street analysts’ assessment of new retail sales data published today illustrating the US consumer is shaking off soaring living costs. Retail sales jumped 0.9 per cent over [...]
Wages trail inflation as Brits brace for cost of living crunch to enter most damaging spell May 17, 2022 Brits’ spending power is being crimped at a historic rate, but is set to plunge even quicker as the cost of living crunch enters its most damaging period, reveals official figures published today. Regular pay adjusted for inflation dropped at the fastest pace in nearly a decade over the last quarter to March, falling 1.2 [...]
Burned Out? Here Are Great Companies To Move To May 17, 2022 Burnout is nothing new – many of us have experienced it at work at some stage, and it is so real that the World Health Organisation has classified it as an “occupational phenomenon” in its International Classification of Diseases. A term that is a bit newer, but probably still pretty familiar, is the concept of [...]
1 Minute Market Rundown – 17th May 2022 May 17, 2022 | City Talk Trade the ExtremesUSD Gives Up Some of its GainsCrypto Consolidates We highlighted in yesterday’s note that risk seemed a bit stretched and pondered whether we may be in for a rally. The question we are still trying to answer is if we have seen the low yet or not. Whilst we are still unsure, although [...]
London indexes muted ahead of week of jolting data May 16, 2022 London’s top indexes were muted today as investors eyed a week of flagship economic announcements. The capital’s premier FTSE 100 index climbed 0.63 per cent higher to 7,464.80 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, inched up 0.01 per cent to 19,924.11 points. [...]