Inflation drops for first time in nearly a year, but BoE still on rate hike path September 14, 2022 Inflation in the UK dropped for the first time in nearly a year, but will do little to stop the Bank of England from continuing to hike interest rates, City economists said today. Prices climbed 9.9 per cent over the year to August, down from a 40-year high rate of 10.1 in July, according to [...]
Desperate small businesses beg government for immediate help as bills spiral out of control September 14, 2022 A range of small businesses said this morning that their energy bills have more than doubled in the past three months alone. Firms are therefore eagerly looking to next week’s expected mini budget for help with soaring bills despite the slight easing in inflation. Lesley So, founder of Derby-based eco-friendly drinks manufacturer So Good Kombucha, [...]
Digital gold or fool’s gold: is crypto really a hedge against equity risk? September 14, 2022 | City Talk Crypto enthusiasts often claim that digital coins and tokens are uncorrelated with equities and can provide a safe haven amid stock market crashes. The assumption is that cryptoassets will act like “digital gold,” serving as a hedge against equity risk and helping investors ride out such downturns. Such bold claims beg for examination, especially amid [...]
London’s FTSE 100 sheds early gains after worrying US inflation numbers September 13, 2022 London’s FTSE 100 shed all its early gains today after a hotter than expected US inflation report sent investors wobbling. The capital’s premier index slumped 1.17 per cent to 7,385.86 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 1.78 per cent to 19,167.21 [...]
Federal Reserve to press on with third 75 basis point hike after inflation overshoot September 13, 2022 The US Federal Reserve is set to hike the world’s most important interest rate by another historic amount to tame sticky inflation, Wall Street warned today. A hotter than expected inflation reading published today prompted a wave of economists to bet on the Fed lifting US borrowing costs 75 basis points for the third time [...]
M&A Roundup: HY 2022 September 13, 2022 | City Talk This year has been challenging on many levels – inflation is impacting economic demand, the cost of living crises carries on, and the war in Ukraine continues. However, in terms of M&A, EMEA is withstanding the headwinds rather well. Per Mergermarket figures, deal count totalled 4,963 compared with 6,182 in H1 2021, a fall of [...]
Forget tech, hospitality or transport: These are Britain’s most profitable sectors September 13, 2022 At the beginning of this year, the UK counted around 5.6 million private sector businesses. Described as the backbone of the UK’s economy, SMEs account for 99.9 per cent of all businesses in Britain. With house prices currently at a record high, it’s no surprise that business and property services are amongst the sectors making the most profit in the [...]
Renewable energy: the way forward for Europe? September 13, 2022 | City Talk In European energy, Russia’s invasion of Ukraine has defined the market so far in 2022. Gas prices have soared, exacerbating inflation. How organizations, consumers, and governments respond could mark the beginning of an evolution in European energy. Is renewables the way forward for Europe? Renewed interest?Policymakers know they must move swiftly on renewables, but dealmakers [...]
Abrdn looks to bolster balance sheet with £262m Indian insurer sale September 13, 2022 Asset manager Abrdn has shed a chunk of its stake in Indian insurer HDFC today as it looks to bolster its balance sheet after swinging to a loss in the first half of the year.
UK joblessness falls to 1970s low, but pay continues to plummet September 13, 2022 UK joblessness has slid to its lowest level since 1974, but scorching inflation is still wiping out Brits’ pay, official figures published today reveal. The proportion of people out of work dropped to 3.6 per cent in the three months to July, according to the Office for National Statistics (ONS). Despite the historic low unemployment [...]