UK economy stumbles behind Euro peers as risk of recession gathers pace January 24, 2023 The UK economy is falling further behind its international rivals and experts, according to a closely watched survey. The survey by economists has revealed Britain’s services industry, which generates about £2 in every £3 in the country, is shrinking at the fastest pace in two years. S&P Global and the Chartered Institute of Procurement and [...]
Why is the FTSE 100 nearing a record high with a recession looming? It ain’t the economy, stupid January 24, 2023 The FTSE 100 is becoming one massive hedge fund. That’s why it’s doing so well when all the doomsters have warned the UK is headed for a long, albeit shallow, recession over the next year. Of course, the stock market isn’t the economy. How many high street coffee shop owners do you know that worry [...]
FTSE 100 close: London index shakes off poor week as Ocado shines again January 23, 2023 London’s premier FTSE 100 index kicked off a fresh week in positive style today after registering its first five day loss of 2023 last week. The capital’s top index jumped 0.18 per cent to 7,784.68 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose [...]
With an average claim in excess of £50k, it really is time to see if you qualify for an R&D Tax rebate January 23, 2023 | Sponsored What are Research and development tax credits? Simply put R&D Tax Credits are a niche, but a lucrative part of the UK tax code that could bring your company significant tax relief. Most companies we speak to at SAS R&D don’t think that they will qualify for these payments with the common misconception amongst business [...]
Recession to be more than twice as bad as first feared, forecasters warn January 23, 2023 The much touted coming recession in Britain will be twice as bad as first feared, new forecasts out today reveal. Soaring prices coupled with the Bank of England’s efforts to tame them are set to deal a heavier blow to GDP than projected just a few months ago. According to the EY Item Club, the [...]
Rishi Sunak and Jeremy Hunt to shun tax cuts in March budget despite £11bn energy windfall January 23, 2023 Jeremy Hunt and Rishi Sunak will hold fire on tax cuts at the 15 March budget despite being handed an around £11bn windfall from international energy prices falling to pre-Russia-Ukraine war levels, according to top economists’ predictions gathered by City A.M. Brits will have to wait until the run up to the next general election, [...]
Bankers switching firms trouser more than 20 per cent pay bump January 23, 2023 City bankers, brokers and insurers switching to a rival firm trousered a more than 20 per cent pay bump last year, new research out today shows. The Square Mile’s best and brightest are switching companies in a bid to capitalise on rapid wage inflation in the financial services sector. According to recruiter Morgan McKinley, the [...]
Week ahead: Recession signals to flare up in fresh PMI and government borrowing to hit £18bn January 22, 2023 Investors this week will be eyeing fresh surveys for more clues on whether the UK economy has slipped into recession. London’s premier FTSE 100 index’s strong start to 2023 came off the boil slightly last week, shedding nearly one per cent to close at 7,770.59 points, while its mid-cap domestically-focused peer the FTSE 250 dropped [...]
Markets Wrap January 20, 2023 | City Talk Another eventful week of trading comes to a close, and we end the week quite differently to how we started it. Last week we saw solid upside in stocks with no real fundamental driver, as banks kicked off the Q4 earnings season and the US posted a relatively strong Michigan consumer sentiment figure. The theme [...]
Recession risks return as Brits brace for cost of living crisis to make 2023 a ‘bumpy ride’ January 20, 2023 UK consumer confidence dipped for the first time in two months in January, raising the risk the economy will slip into recession after all despite a string of better than expected data recently, a closely watched survey out today reveals. A credit card debt hangover from the Christmas spending splurge and energy bills looming has [...]