The £200bn Covid savings war chest that could prevent a UK recession February 14, 2023 There’s a war chest of nearly £200bn – which started to be built up during the pandemic and has grown ever since – that could save the UK from recession. This may come as a surprise when all we hear from Westminster is how skint we are, but the stash of cash isn’t made up [...]
Ireland to keep European economy out of a recession as Britain gets left behind February 13, 2023 Europe is poised to swerve a recession this year in a massive U-turn from warnings of blackouts sweeping across the bloc, with GDP powered by Ireland, new forecasts out today claim. Growth in the European Union (EU) will hit 0.8 per cent this year, an upgrade from the just 0.3 per cent forecast last autumn, [...]
FTSE 100 close: London index bumps higher ahead of key inflation and wage numbers February 13, 2023 London’s FTSE 100 kicked off the week in busy fashion today ahead of a busy week of data that will provide more clues on the health of the UK economy. The capital’s premier index closed 0.83 per cent higher today at 7,947.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Hunt must tackle worker shortage hobbling London’s economy, business groups warn February 13, 2023 London’s economy is being hamstrung by a chronic worker shortage that Chancellor Jeremy Hunt needs to tackle at the 15 March budget, a new report from Britain’s biggest business lobby groups highlighted today. Nearly two in three of the capital’s firms are struggling to fill vacancies, according to research carried out by BusinessLDN, Federation of [...]
Brexit delivered £1,000 blow to every UK household, Bank of England rate setter Haskel claims February 13, 2023 The sharp reduction in business investment after Brexit has dealt a £1,000 blow to every UK household, a rate setter at the Bank of England has claimed. Speaking to The Overshoot, Jonathan Haskel, an external member of the monetary policy committee (MPC), said that the “productivity penalty” caused by a huge drop in capital spending [...]
UK narrowly avoids recession as GDP remains unchanged but Jeremy Hunt warns country ‘not out the woods yet’ February 10, 2023 The UK very narrowly avoided a recession in the final months of last year but the economy contracted sharply over Christmas, official figures out today reveal. Gross domestic product (GDP) remained unchanged in the final three months of last year, meaning the country swerved the technical recession definition of two consecutive quarters of contraction, according [...]
FTSE 100 close: Standard Chartered, BP and AstraZeneca continue London index’s surge February 9, 2023 London’s FTSE 100 continued its relentless upward march today, led higher by bank Standard Chartered and oil giant BP extending a week-long rally. The capital’s premier index rose 0.33 per cent to 7,911.16 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK, was broadly flat at [...]
Self custody is sexy: What every crypto user should learn from the FTX and genesis debacle February 9, 2023 | City Talk “Not your keys, not your crypto” is an oft-repeated phrase in our space. But, like a New Year’s resolution, it’s more easily said than done. As Head of Web3 Growth for OKX, I see self-custody wallets as the perfect solution for new users to take control of their own funds while unlocking the world of [...]
Bank of England governor Andrew Bailey ‘very uncertain’ about inflation decline February 9, 2023 The Bank of England’s governor, Andrew Bailey, has today admitted he is “very uncertain” about whether inflation will decline, forcing him to back another steep interest rate increase last week. Responding to a grilling by MPs on the commons treasury select committee, Bailey, 63, said he wants to see “more evidence” of the rate of [...]
Navigating the talent challenge: where should your people priorities lie over the next 12 months? February 9, 2023 The expertise and skills of people underpin the success of virtually every organisation. Yet ongoing skills shortages are often preventing today’s organisations from accessing the vital people they need to innovate and grow. ACCA’s inaugural 2023 Global Talent Trends Survey highlights some of the most pressing people challenges faced by employers globally, including in the [...]