Fast growing UK firms shelve IPO plans amid market turbulence June 29, 2022 Fast growing UK firms are shelving plans for initial public offerings in droves as a looming recession and inflationary pressures batter public markets, a survey has revealed.
Flying Rolls Royce boosts London’s FTSE 100 June 28, 2022 A positive analyst note sent aerospace engineer Rolls Royce flying in the City today, bumping London’s FTSE 100. The capital’s premier index climbed 0.9 per cent to 7,323.41 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged 0.17 per cent higher to 19,351.27 points. [...]
Global consumer confidence plunges to new lows on inflation spike June 28, 2022 Consumers in rich countries have never been more glum as inflation takes its toll on household balance sheets. Confidence in Germany, Europe’s economic powerhouse, dropped to minus 27.4 this month, the lowest level since record began, GfK said today. The figures come as another survey published by GfK last Friday revealed UK consumer confidence has [...]
£31bn boost for Global Britain as UK exports to Commonwealth markets hit highest level in 15 years June 28, 2022 Exactly one month away from the Commonwealth Games in Birmingham, new analysis shows today that goods exports to the Commonwealth reached £31.6bn in the 12 months to April of this year, the largest respective period in over 15 years. It is larger than the amount of goods exported to other key nations like Germany (£30.1bn), [...]
Sunak: UK has ‘tools at our disposal’ to tackle 40-year high inflation June 28, 2022 The UK has “the tools at our disposal” to tackle the worst inflation spike in four decades, the chancellor urged today. Responding to a grilling by MPs in the house of commons, chancellor Rishi Sunak said Britain is “not immune” to the inflationary “shocks” that are sweeping through the world’s richest economies. Prices have climbed [...]
Boost for the City as office take-up hits highest level so far this year with vacancy rates dropping and rent at new record June 28, 2022 Office take-up in the City of London office take-up reached 714,683 sq ft in May, which is the highest monthly take-up by volume since December 2021, and the most number of deals by number (36) since March 2021, real estate giant Savills said this morning. Take-up for the year-to-date has now reached 2.3m sq ft [...]
Lagarde: European Central Bank will go ‘as far as necessary’ to tame inflation June 28, 2022 The European Central Bank (ECB) will go “as far as necessary” to tame the worst bout of inflation on the Continent since records began, its chief said today. President Christine Lagarde said at the ECB’s monetary policy summit that the central bank’s commitment to getting the rate of price rises back to its two per [...]
Russia defaults on international debts after being cut out of financial system by Western sanctions June 28, 2022 Russia yesterday defaulted on its international debts for the first time since the Bolshevik revolution after being unable to pay its creditors due to the impacts of Western sanctions. Ratings agency Moody’s yesterday said Russia’s failure to make payments on two Eurobonds worth $100m officially constitutes a default after its extended deadline to make the [...]
Car industry sounds alarm bells: UK vehicle makers face staggering 50 per cent jump in energy bills June 28, 2022 British car makers face a 50 per cent increase in energy costs this year, an industry body warned this a.m. Analysis by the Society of Motor Manufacturers and Traders (SMMT) stated that the sector’s annual energy bill – which is already £50m more than its European Union rivals – will rise by £90m in 2022. [...]
Soaring inflation burns hole in councils’ finances, LGA finds June 28, 2022 Rampant inflation is burning a hole in the finances of English and Welsh councils and may force them to trim public services without more funding, reveals a fresh report published today. Rising energy costs caused by Russia’s invasion of Ukraine lifting European gas prices and an uplift to the national living wage will heap an [...]