UK jobs market surges to pre-pandemic health but inflation crunch looms March 7, 2022 The recession of Covid-19 restrictions has sparked a recruitment drive by British businesses, reveals a fresh survey released today. An uptick in spending as Brits head back to high streets after the end of Plan B measures is encouraging firms to take on more staff, according to research by accountancy firm BDO. Businesses are scrambling [...]
CPS: Shield exports from tax to boost Global Britain and small business March 7, 2022 Shielding spending on ramping up exports from taxes will unlock a well of economic growth by boosting engagement with trade among Britain’s small businesses, a new report recommends today. Allowing firms to cut their tax bills by offsetting investment in exports would strengthen incentives for small firms to participate in trade, according to the Centre [...]
Editorial: Oil ban dilemma points to sad truth that there are no good choices left March 7, 2022 If, as the US Secretary of State Antony Blinken hinted at yesterday, the European continent is set for a Russian-oil-free future, the implications will be enormous. Energy prices, already high, will spike further. Vast swathes of the continent – and the UK’s – manufacturing sectors will be forced to hike prices too, creating the sort [...]
PwC announces separation of Russian firm in first Big Four exit March 6, 2022 Pricewaterhousecoopers (PwC) will no longer have a member firm in Russia, with the multinational due to announce its decision tomorrow to separate its Russian company from the rest of its global network in the wake of Putin’s invasion of Ukraine. The move by the Big Four giant will affect 3,700 partners and staff in Russia, [...]
Sunak under pressure to drop NI rise in wake of Ukraine invasion March 6, 2022 Rishi Sunak is under increased pressure to drop his 1.25 percentage points increase of National Insurance next month in the wake of Russia’s invasion of Ukraine. It is expected the war will lead to higher inflation than expected due to Europe’s large reliance on Russian gas and Ukrainian agricultural products, like wheat. Annual growth in [...]
Russia unlikely to meet debt obligations as Western sanctions bite, Moody’s warns March 6, 2022 One of the world’s top credit rating agencies has raised concerns over Russia’s ability to service its debt as Western sanctions hobble Moscow’s economy. Moody’s said its move to downgrade Russian debt to the second-lowest rung on its ratings ladder was “driven by severe concerns around Russia’s willingness and ability to pay its debt obligations”. [...]
Week ahead: Fears over Russia-Ukraine escalation to loom over City March 6, 2022 An intensification in the Russia-Ukraine war will drive investors’ moves this week in the City. The capital’s premier FTSE 100 index had a torrid time last week, losing nearly seven per cent of its value, its worst week since March 2020 when the UK was plunged into lockdown. Traders were spooked by the potential economic [...]
What impact will Russia’s invasion of Ukraine have on oil and gas? March 4, 2022 | City Talk Russia’s invasion of Ukraine is first and foremost a human tragedy. As investors though, our role is to interpret the market implications on behalf of our clients. Here, we consider the impact of the invasion on oil and gas markets. Firstly, it’s important to understand how markets stood before the invasion. Global energy markets were [...]
Swift backlash: Will Russia snake past Western sanctions? March 3, 2022 Sanctions are intended to choke economies for decades. This week could a sign that Russia is heading for the mire. The intended effects of Western sanctions are already materialising. This week, the rouble, Russia’s currency, collapsed around 40 per cent. The Moscow Stock Exchange has been shuttered since Monday. Concern about Russia being effectively frozen [...]
Commodities boom weighs on London’s top indexes March 3, 2022 London’s top indexes plummeted yesterday as investors ditch assets with exposure to the economic fallout of the Russia-Ukraine conflict and pour into commodities as prices continue to surge. The capital’s premier FTSE 100 index plummeted 2.57 per cent to 7,238.85 points, while the domestically-focused FTSE 250, which is more aligned with the health of the [...]