IoD appoints former Labour MP Kitty Ussher as new chief economist September 2, 2021 The Institute of Directors has named former Labour MP Kitty Ussher as its new chief economist, the organisation announced today. Ussher has vast experience in providing macroeconomic and public policy advice, serving as the chief economic adviser to the cross-party think tank, Demos, and economic secretary to the Treasury during the financial crisis. Kitty Ussher [...]
Nearly all investors think inflation will rise faster than expected September 1, 2021 Almost all professional investors expect a larger than expected hike in inflation in the next year, according to a new study. Research from Tabula Investment Management reveals 95 per cent of investors think inflation will progress at a clip much higher than leading market commentators’ predictions. Investors expect inflation to surge ahead of expectations as [...]
Huw Pill succeeds Andy Haldane as Bank of England’s chief economist September 1, 2021 The Bank of England has appointed Huw Pill as its new chief economist, ending a prolonged search for Andy Haldane’s successor, it announced today. Pill joins the Bank of England from Harvard Business School, where he has been a senior lecturer since 2018. Prior to teaching, he was Goldman Sachs’ chief European economist and has [...]
Former HSBC boss John Flint lands UK Infrastructure Bank chief executive job September 1, 2021 John Flint, the former CEO of HSBC, has been appointed as the first chief executive officer of the new government-backed UK Infrastructure Bank. Chancellor Rishi Sunak has tasked Flint with leading the Bank’s mandate to identify and finance infrastructure projects as part of the government’s “levelling up” agenda. The UKIB was first announced at the [...]
Severe shortages clamp down on UK manufacturing growth September 1, 2021 Severe shortages of raw materials and workers and transport delays have compounded to clamp down on growth in the UK manufacturing industry, according to a closely watched survey published today. The latest IHS Markit / CIPS purchasing managers’ index edged down to 60.3 in August, a five-month low, dropping from July’s reading of 60.4. Despite [...]
UK house prices jump unexpectedly in August September 1, 2021 UK house prices jumped unexpectedly in August driven by strong demand for homes in the lower segment of the market, according to new figures released today. Data from Nationwide shows house prices rose 11 per cent annually in August, up from July’s 10.5 per cent increase. The shock rise is likely being driven by the [...]
CEO confidence in the global economy returns to pre-pandemic levels September 1, 2021 CEOs of the world’s largest businesses are increasingly optimistic about the global economy’s immediate prospects. Despite a slower ‘return to normal’ than expected, CEOs’ expectations have finally reached above pre-pandemic levels. The KPMG 2021 CEO Outlook found that 60 per cent of leaders are confident about the global economy’s growth prospects over the next three [...]
Supply chain bottlenecks push shop prices higher September 1, 2021 Severe supply chain bottlenecks and persistent shortages of microchips drove shop prices higher over the last month, according to fresh figures published today. The British Retail Consortium’s latest shop price index shows shop prices climbed 0.4 per cent in August, up from a 0.5 per cent fall in prices in July. Logistics firms have struggled [...]
AIM dividends climb from Covid depths in second quarter September 1, 2021 Dividends paid by companies listed on the junior AIM stock market are rebounding sharply from the depths of the Covid crisis, according to fresh figures published today. Research by Link Group shows underlying dividends distributed by AIM companies shot up 56.6 per cent to £265m compared to the same period last year. For the year [...]
Analysts: China’s tech crackdown could backfire as it may hamper economy August 31, 2021 Analysts caution China’s economic growth could slow down if Beijing continues to target private enterprises that power the country’s economic success. Beijing’s sweeping regulatory crackdowns have spread like wildfire across sectors, ranging from technology and internet algorithms to online gaming and tutoring. Ross Terrill, a research associate at Harvard’s Fairbank Centre for Chinese Studies, told [...]