Inflation ‘pauses for breath’ in September before racing ahead soon October 20, 2021 Inflation “paused for breath” in September before it races ahead at a fiery pace in the coming months. Prices were 3.1 per cent higher than they were a year ago last month, according to the Office for National Statistics (ONS). The rate of inflation edged back slightly from August’s 3.2 per cent clip and was [...]
Confidence in London’s financial pulling power remains high among wealthy Brits October 19, 2021 High-net-worth-individuals (HNWIs) in the UK have a positive outlook for the prospects of the economy with most singling out London as the driver behind UK Plc, according to new data shared with City A.M. this morning. Confidence in London’s financial pulling power remains, with 68 per cent saying that London will continue to be Europe’s [...]
Markets today: Europe set for a modest rebound as Asia markets bounce back October 19, 2021 Not a particularly great start to a new week yesterday for markets in Europe, but having just come off the back of three days of strong gains at the end of last week, markets were probably overdue a bit of a pullback. The big question for CMC chief market Michael Hewson, chief market analyst at [...]
Fiscal watchdog to hike growth forecasts to highest on record at budget October 19, 2021 The government’s independent fiscal watchdog will make the biggest ever upgrade to the UK’s economic growth rate at the budget next Wednesday. The Office for Budget Responsibility (OBR) will hike its forecasts for the British economy’s annual expansion rate to 7.5 per cent, according to the economic think tank the Resolution Foundation. This would be [...]
Tesco opens new check-out free store October 19, 2021 Tesco has launched GetGo, its first checkout-free store in central London. The new store trial will allow customers to shop and pay without scanning a product or using a checkout. It is rolling out the technology to Tesco Express High Holborn. Customers with the Tesco.com app will now be able to check-in, pick up their groceries walk straight [...]
Bank of England to hike rates in just over two weeks October 18, 2021 The Bank of England will scale back the wave of stimulus it unleashed in response to the Covid-19 crisis in just over two weeks. That’s the warning from two leading international banks, who both ratcheted up their expectations for the first rate hike in over three years today. Wall Street giant Goldman Sachs brought forward [...]
Bank of England to hike rates in just over two weeks, warn top international banks October 18, 2021 The Bank of England will scale back the wave of stimulus it unleashed in response to the Covid-19 crisis in just over two weeks. That’s the warning from two leading international banks, who both ratcheted up their expectations for the first rate hike in over three years today. Wall Street giant Goldman Sachs brought forward [...]
Sunak reportedly mulls cutting VAT on household energy bills to ease cost of living October 18, 2021 Rishi Sunak is reportedly considering cutting the 5 per cent rate of VAT on energy bills in a bid to cut living expenses for families this winter. Potential cuts in VAT to energy bills were touted by Vote Leave campaigners as a “Brexit dividend”, as EU rules stop countries from changing the rate, with some [...]
Energy crunch chokes China economy October 18, 2021 China’s energy crunch choked economic growth as factories switch off production amid shortages and soaring energy costs. The world’s second largest economy grew 4.9 per cent in the last quarter compared to the same period last year, the slowest rate of expansion since the third quarter of last year. Third quarter growth came in below [...]
Top finance brass bet on Bank of England rate hike October 18, 2021 The UK’s top finance brass are becoming increasingly confident the Bank of England will hike interest rates. Over half of chief financial officers (CFO) think rates will rise to at least 0.5 per cent by this time next year, research by Deloitte has found. Soaring inflation, driven by supply chains buckling under the weight of [...]