A Black Friday on global markets as new Covid-19 variant engulfs investors investors spooked Global markets tumbled today driven by investors being spooked by a fresh Covid-19 strain emerging in Southern Africa that has been described by scientist as the worst yet. In London, the FTSE 100 registered one of its day’s in months, shedding 3.31 per cent to plunge to 7,068.68 points heading into the final hour of [...]
Foundations laid for rate hike, signals Bank of England chief economist here it comes The Bank of England’s chief economist has given one of the strongest signals yet that the Old Lady will hike interest rates next month. Huw Pill, Threadneedle Street’s chief wonk, told the Confederation of British Industry’s (CBI) annual conference today that “the ground has now been prepared for policy action”. Pill highlighted a string of [...]
Global semiconductor crunch steers British car production to over six decade low chip crunch An ongoing semiconductor crunch has caused British car production to slump to its lowest level in over six decades, reveal new figures published today. Vehicle production dropped 40 per cent over the last month as producers contest with an endemic shortage of chips that has snagged the motor sector for over a year. Mike Hawes, [...]
Three decade high inflation print will force US Fed’s hand, warns Goldman Sachs November 26, 2021 The US Federal Reserve will have to tighten policy much quicker than they want in order to hose-down runaway inflation, a leading Wall Street investment bank said yesterday. Goldman Sachs has bet on the Fed having to double the speed of scaling back its monthly asset purchases from January next year to and hiking interest [...]
Investors bet on global commodity boom continuing as miners lift London markets November 25, 2021 A rally among travel and industrial stocks lifted London markets yesterday as investors bet on betting on commodity prices still having room to climb. The capital’s premier FTSE 100 index added 0.33 per cent to close at 7,310.37 points, while the mid-cap FTSE 250 group of shares finished 0.49 per cent to 23,279.96 points. International [...]
Retailers hike prices at fastest pace in three decades as Brits brace for Xmas shopping crunch November 25, 2021 Retailers are hiking prices at the fastest pace in over three decades as Brits rush to scoop up Christmas presents to avoid being left empty handed, reveals fresh research published today. Some 77 per cent of retailers raised prices over the last three months to November, the highest rate since 1990, according to data from [...]
Jab expiry date: EU to place nine month limit on validity of Covid vaccines November 25, 2021 The EU reportedly plans to recommend a nine month limit on the validity of Covid vaccines for travel to countries within the bloc.
Exclusive: Small businesses primed to drive UK economic recovery in coming months November 25, 2021 Small businesses are set to drag the UK economy out of the doldrums, reveals exclusive research shared with City A.M.. Rapidly rebounding small businesses in London, compounded by workers receiving a pay bump across the country, has lifted a closely watched indicator measuring the health of the small business economy. Xero’s small business index climbed [...]
Millions of Brits plunged into financial crisis by whirlpool of inflation and swelling energy bills November 25, 2021 Swelling energy bills, soaring inflation and stinging food costs have plunged millions of Brits into a winter financial crisis, reveal new figures released today. 3.2m poorer households who rely on wafer thin budgets to meet the cost of living will be unable to pay for basic things, research by Citizens Advice, the charity that supports [...]
Millions dished out to inactive or new companies under covid loan scheme November 24, 2021 Lenders reportedly dished out a whopping £130m to questionable companies under a government Covid support scheme that issued loans up to £5m.