Half-a-million UK firms ‘financially distressed’ and thousands face insolvency as they ‘pin hopes’ on rate cuts UK Economy Nearly half a million UK businesses continue to face 'financial distress,' new research finds, with tens of thousands facing the possibility of insolvency within the next 12 months.
FTSE 100 today: London markets set to open higher on the heels of strong US tech earnings Markets Asian stocks rallied alongside a strong tech sector fuelled by impressive US earnings. Bank of Japan maintained its short-term interest rate target at 0-0.1 per cent. Oil prices climbed, while Microsoft and Alphabet shares surged post-earnings beats. Investors await US inflation data and focus on ExxonMobil and NatWest earnings.
Alphabet surges 11 per cent on strong earnings, unveils first dividend payout Markets Alphabet shares surged in after-hours trading on Thursday after Google's parent company impressed investors with a blowout first-quarter earnings report and initiated a $70 billion stock buyback program alongside its first-ever dividend declaration.
High commodity prices could keep inflation elevated, World Bank warns April 25, 2024 The World Bank has predicted that commodity prices will fall just three per cent in 2024 and four per cent in 2025.
US economy disappoints in first quarter of 2024 as growth slows far more than expected April 25, 2024 The US economy slowed far more than expected in the first quarter of the year as its gross domestic product (GDP) endured the influence of stubborn inflation and high interest rates.
Rachel Reeves: Labour will be ‘most pro-business government this country has seen’ April 25, 2024 Speaking to the Times, Reeves promised that business groups would be "in the room" to ensure Labour met its "mission" to make the UK the fastest growing economy in the G7.
FTSE 100 today: BHP pounces on Anglo American while Meta drags tech lower April 25, 2024 US stocks saw a slight rise amid volatility. Asian stocks declined as Meta reignited tech sell-off, and the Japanese yen dropped below ¥155. Meta's stock fell 15 per cent, contributing to market turbulence. Despite this, oil and gold prices held steady. Investors now await US Q1 GDP data and earnings updates from Alphabet, Microsoft, Intel and Barclays.
Andrew Tyrie: How greater competition could spur productivity growth April 25, 2024 "The UK government does not have a framework in place for monitoring levels of competition in the economy that’s fit for purpose," Lord Tyrie said. "It badly needs one".
Avoid ‘outright bans’ on flexible contracts and improve workers’ rights, urges think tank April 25, 2024 According to the research, three quarters of employers reported using flexible contracts - although for a variety of different reasons.
How damage to the UK’s nature could knock £300bn off GDP April 25, 2024 Damage to nature in the UK could contribute to a hit to the economy larger than the financial crisis or the Covid-19 pandemic, new research has shown.