Sea of red: Looming US Fed rate hike spree sends chill through global markets January 24, 2022 A sea of red engulfed global markets today as a looming rate hike spree from the US Federal Reserve sent investors fleeing stock markets. Traders dumped shares on fears the Fed will send the strongest signal yet on its intention to rapidly rein in ultra-stimulative monetary policy at its meeting of rate setters on Wednesday. [...]
New Covid variant spreading like wildfire across UK and Scandinavia: BA.2 ‘stealth’ mutation now half of all new coronavirus cases in Denmark and rapidly pushing Omicron aside January 24, 2022 Various media across Scandinavia and the UK are reporting the emergence of a new Covid variant that is so infectious and spreading so fast that nearly half of all cases in Denmark are now the new mutation, named BA.2, with more than 400 confirmed infections across the UK. The new mutation has reportedly also popped [...]
Firms have no choice ‘but to raise prices’ to absorb NI hike January 24, 2022 The looming national insurance tax hike will leave British businesses with no choice “but to raise prices,” a leading business group has warned. Firms will have to pass on the cost of the 1.25 percentage point hike to consumers in a bid to offset severe margin pressure, according to the Institute of Directors (IoD). Nearly [...]
UK services economy stands strong amid Omicron Plan B assault January 24, 2022 Britain’s services economy has stood strong in the face of the re-emergence of curbs on daily life in a bid to clamp down on the Omicron variant, reveals a closely watched survey released today. IHS Markit’s latest flash purchasing managers’ index (PMI) for the UK services industry came in at 53.3 for January, a marginal [...]
Former BoE deputy governor warns of rapid rate hikes to quash inflation January 24, 2022 The Bank of England has backed itself into a corner by refusing to hike interest rates despite inflation surging to historic highs, a former top official at the central bank has warned. Inertia toward the soaring cost of living during the back end of last year means the Bank will have to rush through a [...]
Covid-19 curbs decimate London’s retail economy January 24, 2022 Onerous restrictions on daily life during the pandemic has decimated London’s retail economy, reveals a fresh study released today. The capital’s retailers lost nearly a year’s worth of sales during the pandemic, underlining the severe blow curbs on economic activity has delivered to London’s shops, pubs and restaurants, research carried out by the Centre for [...]
Supply chain crisis threatens to plunge record number of firms into the red January 24, 2022 The global supply chain crisis is threatening to plunge a record number of companies into the red, reveals a closely watched study released today. Nearly half of the 70 listed companies that issued profit warnings in the final three months of last year blamed their poor performance on the supply chain crisis, according to research [...]
Imminent US Fed rate hike cycle to jolt London markets this week January 23, 2022 Strong signals from the US Federal Reserve that a rate hike cycle is imminent at its latest meeting this week could jolt London’s financial markets. The Fed’s Federal Open Market Committee (FOMC), its group of rate setters, are expected on Wednesday to hint that a series rate rises will start in March. The world’s most [...]
Poverty looms for 15m Brits: Cost of living crisis grows as more and more people cannot keep up with household bills January 23, 2022 Millions of Brits are finding it harder to keep up with bills and credit commitments, as that number has doubled since the start of the pandemic to almost one in three, research by a debt charity warned this weekend. Nearly one in three British adults – 30 per cent or 15 million people – say [...]
Forbes 30 under 30 data shows London is the best city in the world to be a young entrepreneur January 23, 2022 Using the Forbes 30 Under 30 lists from Europe, North America, Russia, Asia and Africa, London has been named as the best city in the world to be a young entrepreneur. Despite North America being by far the most popular in providing Forbes Under 30 candidates, London is the most popular city for young entrepreneurs [...]