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 [...]
Brexit: Finland, Luxembourg, Portugal and Greece are exploiting Brexit as UK exporters are being ‘replaced’ January 23, 2022 Smaller EU countries are benefitting from Britain’s departure from the European Union. This is largely because they fill up the Brexit exporters’ spots. In fact, this situation could reduce the UK’s exports to the EU by -7.73 per cent by 2025, according to new analysis shared with City A.M. this week. The top three countries [...]
Brexit onslaught: A third of all British business owners is not sure their company will still exist in a year’s time January 23, 2022 Nearly one in three fear their company will close before the end of this year, primarily as the long-term effects of Brexit start to bite, according to alarming data shared with City A.M. this week. A slightly bigger number, 37 per cent, don’t think their business will survive until the end of 2027, as more [...]
The unstoppable rise of the challenger bank: Canary Wharf’s retail giants have reasons to be worried January 22, 2022 If traditional retail banks have paid any attention to the latest data from the City watchdog, they have reasons to be worried, because challenger banks are increasingly taking over traditional banking services from established financial institutions. In fact, nearly 10 per cent of all accounts are now held with a so-called digital “challenger” bank. A [...]
Brits’ optimism shrinks on soaring inflation and looming tax hikes January 21, 2022 An inflation spike, the re-emergence of Covid-19 restrictions and looming tax hikes have combined to dampen Brits’ confidence in the year ahead, reveals a closely watched survey released today. The erosion of household budgets by inflation climbing to a near three decade high has led to concerns about a deterioration in personal finances to sweep [...]
London markets post mixed day as miners and oil giants tumble January 20, 2022 London markets were a mixed bag yesterday as tumbling energy stocks held down the City’s top index. The capital’s premier FTSE 100 index inched down 0.06 per cent to close at 7,585.01 points, while the domestically-focused FTSE 250, which is more aligned to the health of the UK economy, jumped 0.26 per cent to finish [...]
Reeves: UK has had a ‘lost decade’ of economic growth under Conservatives January 20, 2022 The UK has had a “lost decade” of economic growth under the Conservatives and the country is heading for another decade of “anaemic growth”, Rachel Reeves has said. Labour’s shadow chancellor used a set-piece speech in Bury today to once again position Labour as an unapologetically pro-business party under Sir Keir Starmer and herself, saying [...]