More than half a million Brits over the age of 50 will lose furlough support tomorrow September 29, 2021 As the furlough scheme comes to an end tomorrow, concerns are being raised about the number of workers over the age of 50 who are still furloughed. More than 540,000 people in the age group were on furlough in August, accounting for 35 per cent of the total, according to research. Rest Less, which offers [...]
HGV applicants waiting three months for licence test September 29, 2021 Applicants for HGV licences are waiting three months to do a lorry driving test at nearly two thirds of testing centres in the UK. 62 per cent of HGV test centres currently have a waiting list of at least 11 weeks, indicating the severe shortage of lorry drivers causing the UK economy to grind to [...]
UK housing market still steaming despite looming stamp duty break cut off September 29, 2021 The looming end of a watered down tax break on house purchases has not cooled the UK’s rampant housing market, according to official figures released today. Brits took on £21.5bn in mortgage debt last month, up sharply from July’s figure of £16.6bn, shows Bank of England data. A record low interest rate environment has propped [...]
Ongoing worker shortages loom over UK economy September 29, 2021 Endemic worker shortages putting the UK economy in a vice are set to persist for months to come. Businesses’ demand for workers jumped three percentage points to 25 per cent, according to data from the Recruitment and Employment Confederation (REC). Hiring intentions over the next four to 12 months also strengthened to 30 per cent. [...]
Talent war and transport costs hit shop prices September 29, 2021 A toxic combination of rising transport costs, severe worker shortages and soaring commodity prices is fuelling food price inflation. Food prices rose for the first time on an annual basis in six months in September, up 0.1 per cent, according to research from the British Retail Consortium (BRC). Supermarkets have been raising pay for HGV [...]
Messages from central bankers suggest persistent inflation concerns are rising September 29, 2021 European markets had a poor day yesterday, all of them down over 2 per cent, with the notable exception of the FTSE100 which was helped in no small part by its hefty energy component, and a sinking pound, which helped to keep it above the 7,000 level. “Once again it is fears about surging energy [...]
Brexit: Furious French threaten to retaliate as only 12 fishing licenses for UK waters are granted September 29, 2021 It appears that only 12 fishing licences for small boats to operate in UK waters have been granted, out of 47 applications. The French government is furious, accusing the UK of taking French fishing “hostage” and Macron’s administration warned of “retaliatory action” following the decision. The prospect of a new cross-channel fishing war came after [...]
Two US Fed chiefs quit as controversy over stock trades ramps up September 28, 2021 Two of the US central bank’s regional chiefs have stepped down as the fallout from controversial stock trades they made accelerates. Dallas Federal Reserve President Robert Kaplan became the second regional central bank leader to resign on Monday, after Boston Fed President Eric Rosengren took an early retirement. Controversy has swirled over both men due [...]
‘Alpha-Flation’: A Private Market Syndrome September 28, 2021 | City Talk In private equity (PE), there are more ways to calculate the alpha of a portfolio or fund than any other asset class. And in no sector other than private markets does investing in the average fund seem to go so poorly. Should it be this way? Is the average private market fund a bad fund [...]
This A.M.: Tide is turning at the Bank of England while markets await Powell remarks September 28, 2021 Having started the day in positive fashion yesterday, European markets saw the majority of the early gains slowly disappear, and though most did finish higher, it was a somewhat half-hearted affair. The result of the German election went entirely as expected, with little prospect of a new government this side of Christmas. US markets were [...]