Nearly half of all Brits fear inflation may rise more than Bank of England prediction March 9, 2022 About two-fifths of people polled recently have a more pessimistic view about rising inflation than the Bank of England, it has been revealed. Despite the Bank’s prediction of a seven per cent spike in Spring, 39 per cent of respondents to a survey by HR software provider CIPHR thought it would be eight percent or [...]
Inflation to accelerate far ahead of Bank of England’s target as rate hikes loom March 8, 2022 Inflation in the UK will soar far above the Bank of England’s target this year as the Russia-Ukraine war drives energy prices to record highs. Accelerating prices will hit “almost all businesses and consumers” this year and choke economic growth, Thomas Pugh, an economist at RSM, warned today, adding that the cost of living could [...]
Global markets finally cool after series of volatile sessions March 8, 2022 Global stock markets were a bit calmer today, allowing investors who have been involved in a series of severely volatile sessions since Russia sent troops into Ukraine to breathe a sigh of relief. The capital’s premier FTSE 100 index inched 0.07 per cent higher to close at 6,964.11 points, while the FTSE 250 index, which [...]
Russia-Ukraine war to deliver £90bn blow to UK economy March 8, 2022 Russia’s war with Ukraine will deal a £90bn blow to the UK economy driven by a worsening cost of living crunch sending the British consumer into retreat, reveals fresh forecasts published today. Soaring energy prices as a result of Moscow sending troops in Ukraine will feed already historic high inflation in Britain, heaping even further [...]
UK braces for historic living standards shock on Russia-Ukraine conflict sending inflation skyrocketing March 8, 2022 Households are set to absorb the worst shock to their living standards in recent history driven by the Russia-Ukraine conflict sending energy prices skyrocketing, reveals fresh research published today. Gas prices have surged to their highest level ever on concerns over Moscow squeezing energy flows in retaliation to Western sanctions, which could push UK inflation [...]
Brits hunker down for cost of living pinch as experts project spending pullback March 8, 2022 Brits are battering down the hatches in preparation for rampant inflation hitting their finances, reveals fresh research published today. Around nine in 10 households are concerned about the impact rising food prices and overall inflation will have on their ability to maintain spending levels, according to Barclaycard. The research was carried out before the Russia-Ukraine [...]
Putin’s retaliation to Western sanctions and soaring energy prices send global markets whipsawing March 7, 2022 Russian President Vladimir Putin’s retaliation to sanctions and the possibility of the West banning Moscow oil and gas sent global markets whipsawing today. London’s premier FTSE 100 index tumbled over two per cent during the first hour of trading, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK [...]
Ukraine crisis highlights Europe’s dependency on Russian gas March 7, 2022 | City Talk Russia is currently facing the ire of the world following its illegal invasion of Ukraine, which is bringing misery to millions. It is also the second largest producer of natural gas in the world. It serves European consumers of energy through a number of pipelines. Proximity and the ease of transport means supplies from the [...]
Brexit impact minimal as London lost only 7,500 jobs due to UK’s departure, says EU-born City mayor March 7, 2022 The City of London’s mayor, Irishman Vincent Keaveny, rejects any notion that London is losing its position as Europe’s financial capital. In fact, the Square Mile has lost less than 7,500 jobs as a result of the UK’s departure from the EU, Keaveny said, while City firms employ more than 500,000 people. “A certain number [...]
International aid: UK pumps an extra $100m into Ukrainian economy March 7, 2022 The UK has injected another $100m (£75.7m) in Ukraine’s economy, to help keep the country’s finances stable as it fends off Russia’s unprovoked invasion. It takes the figure of UK backing to a little over £295m, and is likely to be used to support public sector salaries, critical state functions, as well as to protect [...]