Top Chinese economist suggests £230bn plan to boost shrinking population January 11, 2022 A top Chinese economist has advised the central bank to print around £230bn worth of extra cash a year over the next decade, in a bid to incentivise the population to have more children. The capital would be used to subsidise housing costs, as well as build more childcare facilities, chief economist at SooChow Securities [...]
UK economy to shrug off Omicron quickly but lean into inflation blizzard January 11, 2022 The UK economy will shrug off the impact of the Omicron variant quickly, but will then fall into an inflation blizzard, top City economists have bet. Despite widespread concerns the new strain would plunge the economy back into doldrums seen during previous periods of high virus cases, the impact of the Omicron variant will be [...]
OECD inflation scales to 25-year high as cost of living crisis sweeps across rich nations January 11, 2022 Inflation among the world’s top economies has soared to its highest level in 25 years, according to fresh figures released yesterday. The cost of living scaled to 5.8 per cent in November on an annual basis across countries that make up the Organisations for Economic Co-operation and Development (OECD). Inflation was driven higher by a [...]
Breakdown in social cohesion to put global economy in a vice, warn world’s top business brass January 11, 2022 A breakdown in social cohesion will cause volatility to ripple throughout the world, putting the global economy in a vice. The risk of social upheaval has intensified sharply since the onset of the Covid-19 crisis and now poses a real threat to eroding multilateral cooperation and derailing the global economy, according to a survey of [...]
Global tech stocks show signs of recovery after sharp sell-off January 11, 2022 Global tech stocks have shown signs of a rebound following a sharp sell-off in recent days.
London markets rebound as retailers lead FTSE 100 higher January 11, 2022 London markets rebounded from a poor day yesterday, led higher by investor sentiment toward retailers strengthening after a strong Christmas trading period. The capital’s premier FTSE 100 index climbed 0.39 per cent to 7,474.07 points, while the mid-cap FTSE 250 index, which is more aligned to the health of the UK economy, added 0.59 per [...]
CEOs zoom in on ESG and climate change as world enters third pandemic year January 11, 2022 Climate risks dominate global concerns as the world enters the third year of the pandemic, according to a new World Economic Forum report shared with City A.M. today. The Global Risks Report 2022 sets out that while the top long-term risks relate to climate, the top shorter-term global concerns include societal divides, livelihood crises and [...]
Plan B Omicron curbs derail pubs and restaurants’ vital Christmas trading period January 11, 2022 The re-emergence of curbs to tamp down on the spread of Covid-19 derailed the vital Christmas trading period for Britain’s hospitality sector, reveal new figures published today. Brits pulled back sharply on spending at pubs, bars and restaurants over the festive period, according to research undertaken by Barclaycard. Spending at restaurants sunk over 14 per [...]
London notches best year for floats since 2007 January 11, 2022 A wave of listings flooded London markets last year as private firms pushed to capitalise on strong investor demand, reveals new figures published today. Some 121 businesses floated in the City in 2021, the highest volume since 2007, according to research carried out by consultancy EY. Newly listed firms raised over £16bn in the capital [...]
Local councils secure surplus Westminster funds after overstating Covid-19 budget impact January 11, 2022 England’s local councils severely overshot the amount of money they would need to fund the fight against Covid-19, reveals a new study released today. Councils in England told central government their net spending had swelled £7.8bn as a result of the pandemic. However, analysis by the economic think tank the Institute for Fiscal Studies (IFS) [...]