Portugal scraps EU’s strict Brexit rules and rolls out red immigration carpet for Brits with Spain and Italy likely to follow soon April 25, 2022 Portugal has confirmed it plans to ignore EU rules that require British nationals to be treated as third country citizens at border checks and immigration points. The southern European nation will become the first EU member state to allow UK passport holders to be fast-tracked through electronic passport gates, thereby receiving the same treatment as [...]
UK factories hit by 1970s-style cost crunch in inflation surge warning April 25, 2022 UK factories are having to swallow the quickest rise in input costs for five decades in a sign that the cost of living crunch gripping consumers is set to tighten, reveals fresh figures published today. The cost to manufacturers of buying components has accelerated at the steepest pace since 1975, according to Britain’s top business [...]
1 Minute Market Rundown – 25th April 2022 April 25, 2022 | City Talk Risk Firmly on the BackfootCrypto LowerSterling and Euro Looking More and More Vulnerable Risk remains heavy across the board as fears over covid in China weigh on markets compounded fears sparked by faster and more aggressive FED tightening. We are also seeing commodities come under pressure sparked by the China fears as well as yields [...]
ONS: Cost of living grip chokes nearly every UK household April 25, 2022 Predictions that the UK economy is hurtling towards a period of weaker growth look set to materialise driven by historically high inflation squeezing almost all households across the country, official statistics released today indicate. Soaring energy, petrol and food prices have led to nearly nine in 10 Brits experiencing an uptick in their cost of [...]
It’s on: Twitter’s board and Elon Musk negotiate into the early hours over £36bn bid to snap up the social media giant April 25, 2022 Elon Musk and Twitter’s board negotiated into the early hours of this morning over the Tesla chief’s bid to buy the social media platform, The New York Times reported. Musk said last week that he had lined up $46.5bn, or £36.2bn, in financing to buy Twitter, putting pressure on the company’s board to negotiate a [...]
Small businesses suffer unprecedented cost assault in sign of more economic woe April 25, 2022 Swelling costs are eating away at small businesses’ margins in a sign that a key engine of the UK’s recovery is beginning to stall, reveals fresh research published today. Nearly nine in 10 small businesses have experienced an uptick in their operating costs, squeezing their room to combat what is expected to be a weaker [...]
London-listed retailers plummet on expected spending cool down April 24, 2022 An expected slowdown in consumer spending in response to the cost of living crunch hobbling household finances has whacked London-listed retail stocks. The bucket of top retail shares in the City, known as the FTSE 350 retail, has fallen 21 per cent in the year so far, making the sector one of the worst performers [...]
Britain’s biggest banks in higher interest rate profit boost as earnings season kicks off April 24, 2022 Profits at Britain’s biggest high street lenders have been boosted by the Bank of England hiking interest rates to tame historic high inflation. That’s according to top City analysts who are forecasting the UK’s largest banks to have reaped the rewards of being able to charge borrowers more for loans. A higher interest rate environment [...]
Week ahead: City eyes cladding bill impact on house builders’ bottom lines April 24, 2022 Signs of the negative impact of the government turning to home builders to fix the cladding crisis is likely to draw City traders’ gaze in a week of jam packed corporate and economic announcements. London’s capital FTSE 100 index dipped 0.78 per cent to 7,521.68 over the last week, while the mid-cap domestically-focused FTSE 250 [...]
France’s presidential fight between Macron and Le Pen enters final hours: ‘It’s a choice between cholera and ebola today’ April 24, 2022 Emmanuel Macron is in pole position to win re-election in France’s presidential runoff today, but his lead over his far-right rival Marine Le Pen depends on how many voters decide to stay at home. A victory in today’s run-off vote would make Macron the first French president in 20 years to win a second term. [...]