London firms sweat over looming inflation spike April 12, 2022 Accelerating inflation is dealing a severe blow to London businesses just as they are pushing to repair the damage inflicted on them by the Covid-19 crisis, reveals a fresh survey published today. Russia’s invasion of Ukraine has swelled businesses in the capital’s energy bills by sending oil and gas prices soaring. Over six in 10 [...]
Financials drive London lower as Paris boosted by Macron-Le Pen face off April 11, 2022 Sharp losses among financial stocks drove London’s top indexes lower yesterday. The capital’s premier FTSE 100 index lost 0.7 per cent to fall to 7,615.79 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.35 per cent to 21,099.50 points. Insurers, fund managers and [...]
UK inflation to accelerate to highest rate since March 1992 April 11, 2022 Inflation in the UK will soar to its highest level since March 1992, intensifying an already tight cost of living squeeze that is hitting households, according to City experts. Accelerating food and energy prices stoked by Russia’s invasion of Ukraine will propel inflation higher, fresh estimates released by the Office for National Statistics (ONS) on [...]
Russian invasion to nearly halve size of Ukraine economy April 11, 2022 Russia’s brutal invasion of Ukraine is set to deal the country a seismic economic shock alongside triggering a humanitarian crisis, reveals official forecasts published today. The Ukrainian economy will shrink to nearly half the size it was last year as a result of the Kremlin’s war, with GDP dropping just over 45 per cent, according [...]
UK economy ambles into period of sluggish growth April 11, 2022 The UK economy has entered what is expected to be a protracted period of sluggish growth, official figures released today reveal. The early signs of inflation and tax hikes dealing a heavy blow to Brits’ spending are emerging in new GDP figures published by the Office for National Statistics (ONS) today. The economy grew just [...]
Travel and tourism firms drive February GDP growth as pace slows April 11, 2022 The UK marked a slower pace of GDP growth in February versus the month prior, with drops in production and construction. According to figures from the Office for National Statistics (ONS), GDP grew by 0.1 per cent in February 2022, after 0.8 per cent growth in January. The services industry, which grew 0.2 per cent, [...]
London cost of living soars as firms raise prices amid inflation crunch April 11, 2022 Londoners’ cost of living is rising rapidly driven by the capital’s firms hiking prices at the quickest pace ever to stay afloat amid swelling costs, reveals a closely watched survey released today. Businesses across the capital and the UK are being stung by a higher tax burden and swelling operating costs on top of trying [...]
National insurance hike sparks wave of job cuts April 11, 2022 Businesses have unleashed a wave of job cuts to cope with being hit by the national insurance hike, reveals fresh research released today. The pipeline of redundancies has taken off in the last month alone, triggered by firms scrambling to protect their bottom lines ahead of a series of damaging tax rises. The number of [...]
Week ahead: Bumper week of economic data to jolt the City April 10, 2022 The City will be eyeing a raft of flagship economic announcements this week that will send ripples throughout London’s top indexes. The capital’s premier FTSE 100 index registered a strong week last week, gaining 1.75 per cent. The mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, shrank [...]
Russian economy plunged into turmoil by rampant inflation after exodus of household brands April 10, 2022 Russian consumers are being squeezed by the ripple economic effects of President Vladimir Putin’s brutal invasion of Ukraine. A host of western corporates pulling out of Moscow, a severe depreciation in the rouble and sharp supply and demand imbalances has sent inflation in the country soaring. Russian firms have been scrambling to secure supplies of [...]