Industrials rally lifts FTSE 100 but inflation jitters linger October 7, 2021 A rally among industrial stocks lifted London’s FTSE 100 this morning, but concerns about stickier than expected inflation tempered gains on the capital’s markets. The FTSE 100 added 0.78 per cent to rise above the 7,000 threshold in the opening session. Market sentiment has been stung by concerns the UK economy is headed for a [...]
IFS: Council tax hike is looming over Brits October 7, 2021 Brits are facing the prospect of further tax hikes down the line that will intensify the cost of living crisis already squeezing household finances. Council tax could have to rise by as much as five percentage points per year for the next three years, according to the economic think tank the Institute for Fiscal Studies [...]
Exclusive: London bearing the brunt of skills shortages, say city bosses October 7, 2021 The skilled labour shortage gripping the UK is being felt most acutely by London businesses, with seven in 10 executives saying their company has been affected. Despite promises of emergency visas and skills training from the Government, 22 per cent of London business leaders think the problem will be the biggest hurdle their company will [...]
Indie band Friendly Fires furious at Boris Johnson after PM emerges during Black Cassette track October 6, 2021 Boris Johnson today walked out on stage for his speech at the Conservative party conference while a song by indie band Friendly Fires was played. The band did not appreciate it. The Prime Minister made his way to the stage against the backdrop of their track Blue Cassette ahead of his keynote speech in Manchester. [...]
Month-ahead natural gas prices climb 30 per cent in just a day October 6, 2021 Prices for future natural gas stock soared 30 per cent this morning, driven by demand for the resource rising as energy providers brace for cooler weather. November month-ahead natural gas contracts climbed to £3.82 per therm, up from the £3.03 per therm opening price. At one point today, natural gas futures contracts for November topped [...]
Ireland drops opposition to global corporation tax deal October 6, 2021 Ireland has dropped its opposition to raise global corporation tax rates to 15 per cent, bringing a deal to level the business tax regime a step closer. Discussions between Ireland’s finance minister, Paschal Donohoe, and other kingpins driving the agreement among countries that represent around 90 per cent of the global economy has yielded positive [...]
IMF: Inflation to surge above central banking elites’ targets October 6, 2021 The International Monetary Fund (IMF) expects inflation across the world’s richest countries to surge above the central banking elites’ targets. In a pre-released chapter from its global economic outlook report, the IMF said inflation in rich countries will hit 3.6 per cent in the final months of this year. The organisation blamed elevated inflation on [...]
Supply chain epidemic leaves UK construction reeling October 6, 2021 An epidemic of raw material and worker shortages has left the UK construction industry in an almost anaemic state. A closely watched survey measuring the health of the British construction industry notched 52.6 in September, the lowest reading for eight months and down from 55.2 in August. Construction firms have struggled to progress and complete [...]
BCC: Supply chain breakdowns threaten to throw UK recovery off course October 6, 2021 Endemic supply chain breakdowns that are causing the UK economy to snarl up threaten to derail Britain’s recovery from the Covid-19 crisis. The chief of the British Chambers of Commerce (BCC) has warned “The supply chain crisis, alongside wider labour shortages and spiralling price rises, is clearly starting to drag on our economic recovery from Covid-19.” The warning comes as the BCC found [...]
UK businesses jack up prices at record pace amid supply chain epidemic October 5, 2021 Businesses are jacking up prices at the fastest rate on record to cancel out soaring costs caused by endemic supply chain breakdowns. A closely watched index measuring UK services businesses’ activity hit 55.4 in September, up slightly from August’s six-month low 55. A reading above 50 indicates a majority of firms reported growth. Soaring oil [...]