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) [...]
IoD Chief Economist Kitty Ussher on how the UK can balance the books January 11, 2022 | City Talk This article first appeared in ICAS’ CA magazine. We emerge from the pandemic with cautious optimism – and a huge fiscal hangover. How do we balance the books and what role can CAs play in supporting the economy’s nascent recovery? IoD Chief Economist Kitty Ussher shares her thoughts Kitty Ussher is sitting in a meeting room at the [...]
Buckle up: Wild ride on Wall Street as rate rise talk spooks investors January 10, 2022 An explosive Goldman Sachs note triggered a day of drama on Wall Street today after the investment bank warned of as many as four US Fed rate rises in 2022 alone. The tech-heavy Nasdaq crashed by as much as 2.7 per cent in early trading, tipping it briefly into correction territory. A late rally saw [...]
UK inflation to remain more than double BoE’s target for entire year January 10, 2022 UK inflation will run at more than double the Bank of England’s two per cent target for a whole year, reveals fresh forecasts published today. The rate of price increases will peak at 6.7 per cent this April, lifted higher by the energy bill cap being hoisted around 50 per cent, according to investment bank [...]
US Federal Reserve to launch rate hike spree in 2022 January 10, 2022 The US Federal Reserve will launch a hiking spree this year as the world’s most influential central bank zeroes in on spiralling inflation in America, according to City analysts. The Fed will hoist interest rates at least four times in 2022 in a bid to tame red hot price rises that are already seeping into [...]
Britain’s financial future needs catch-up plan for young workers January 10, 2022 If lockdowns have taught us anything, it’s not to underestimate the power of a holiday. Two weeks on the beach feels like a valuable reward after two years of mentally draining restrictions. It is not surprising that travel companies are reporting an uptick in the booking of ‘big’ holidays. Part of that, of course, is [...]
London markets dip as investors pour out of housebuilders January 10, 2022 London markets dipped today driven by investors pouring out of housebuilders after the UK government signalled it will clamp down on them shunning fixing Britain’s cladding crisis. The capital’s premier FTSE 100 index closed 0.53 per cent lower at 7,445.25 points, while the mid-cap FTSE 250 index, which is more aligned to the health of [...]
All eyes on yields this week after latest job data points to even tighter labour market amid record vacancies January 10, 2022 It was a week of two halves for European equity markets last week, getting off to a flyer in the first three days with the Stoxx600, setting a new record high, along with the CAC40 and the FTSE100 moving above 7,500 for the first time since February 2020. The latter part of the week turned [...]
British firms brace to unleash wave of investment in 2022 January 10, 2022 British businesses are preparing to unleash a wave of investment over the next year, reveals a fresh study published today. A record proportion of finance chiefs at the UK’s top firms are intending on ramping up capital spending in the next 12 months, according to research carried out by consultancy Deloitte. Over one in three [...]
As London passes the peak and transport reopens, could it really be a happy new year? January 10, 2022 London may be emerging from the worst of the new Covid-19 peak, with the capital’s public health boss saying London appears to be past the peak of infections and vital transport infrastructure kicking back into gear today. Professor Kevin Fenton, London’s public health director, said the data suggests “we may have passed or are at [...]