Gold hits a one-month high as inflation concerns mount December 28, 2021 Gold prices climbed this morning as the U.S. dollar weakened and concerns over Omicron led bullion's year-end rally to a more than one-month high.
South Africa demands compensation from UK for economic damage caused by Covid travel red list in response to Omicron variant December 27, 2021 South Africa is calling for compensation from the UK for the economic damage the country suffered after it was placed on Britain’s Covid travel red list in November. South Africa’s Department of International Relations is demanding compensation after the movement of people was severely restricted, saying Africa’s largest economy took a serious beating because of [...]
Mario Draghi and Emmanuel Macron call on EU to reform fiscal rules December 24, 2021 Italian Prime Minister Mario Draghi and French President Emmanuel Macron have called on the EU to reform its fiscal rules. In joint article published yesterday on the Financial Times, the two argued that even before the pandemic, the bloc’s fiscal rules were in need of reform as they are “too obscure and excessively complex”, constraining [...]
London markets rise as investors prepare to down tools for Christmas break December 23, 2021 London markets climbed today as investors prepare to down tools and clock off for the Christmas break. The capital’s premier FTSE 100 index closed up 0.43 per cent to reach 7,373.34 points, while the FTSE 250 index, which is more aligned to the health of the UK economy, rose 0.81 per cent to 23,266.75 points. [...]
US jobless claims hold below pre-pandemic levels as consumer spending jumps December 23, 2021 The number of Americans claiming unemployment benefits stayed below pre-pandemic levels in a sign the US economy is holding up well in the face of raging Covid-19 cases, reveal new figures published today. Weekly jobless claims were unchanged at 205,000, the US Labor Department said. Unemployment benefit claims tend to rise over the winter period. [...]
Markets bet on Bank of England hiking spree in 2022 December 23, 2021 Traders are ramping up bets on the Bank of England going a hiking spree this coming year. The Bank will look through economic risks posed by the Omicron variant of coronavirus and lift rates above one per cent by the end of 2022, the first time that level has been breached since 2009 in the [...]
Labour squeeze and soaring costs compound to hit UK businesses December 23, 2021 The ongoing labour squeeze, soaring costs and uncertainty over the economic landscape since the emergence of Omicron are compounding to hit British businesses, reveals a new survey published today. Growth among UK private sector firms slowed to 21 per cent in the three months to December, down sharply from 32 per cent in the last [...]
London markets shake off Omicron fears as investors brace for Christmas break December 22, 2021 London markets have shaken off fears over the Omicron variant’s impact on the UK’s economic recovery from the pandemic as investors brace for the Christmas break. The capital’s premier FTSE 100 index closed 0.61 per cent higher at 7,341.66 points, while the mid-cap FTSE 250 index, which is more aligned to the health of the [...]
UK services trade surplus widens on strong City exports December 22, 2021 UK net exports of services jumped over the last three months driven by City firms selling their expertise abroad in their droves, according to official figures published today. The UK’s services trade surplus climbed £4bn over the last three months, rising to £35.2bn in the third quarter, according to the Office for National Statistics (ONS). [...]
Omicron, inflation and shortages compound to spike UK businesses December 22, 2021 A cocktail of Omicron, soaring inflation and ongoing worker shortages are spiking UK businesses, reveals a fresh study released today. Business confidence in the UK economy dipped nine percentage points over the last three months to minus six, according to the Recruitment and Employment Confederation (REC). The emergence of the Omicron variant of coronavirus has [...]