A technical recession: How bad will it be? August 7, 2022 It is no surprise that US GDP growth is declining given the slowdown in consumer spending and domestic production recently. However, markets seem fraught with headline risk with the term ‘technical recession’ floating around. Analysts have pointed out the looming risk of a recession given the central bank’s aggressive tightening cycle while Fed chair Powell [...]
Buffett’s Berkshire Hathaway books $43.8bn loss after slide on equity markets August 6, 2022 Warren Buffett’s Berkshire Hathaway was hit by the global rout on equity markets in the second quarter of the year as it booked a hefty $43.8bn loss.
This week’s rate rise: Brits face immediate jump in interest payments of £1.67bn August 6, 2022 With the Bank of England Monetary Policy Committee confirming its base rate will rise by 0.5 per cent to 1.75 per cent, UK households face an immediate increase in interest payments of £1.67bn. UK households are currently paying £24.1 billion annually in interest payments on floating rate debt that are likely to be immediately impacted by [...]
Exclusive: A third of all small businesses in Britain set to fold unless they get access to fresh funding August 6, 2022 One in three UK small and medium enterprises (SMEs) say their survival is dependent on accessing finance by the end of the year, according to new research shared exclusively with City A.M. this weekend. A third of all SMEs in Britain fear their business will collapse if they are unable to access finance, such as [...]
Truss warns Bank against ‘talking Britain into a recession’ August 6, 2022 Liz Truss ramped up her criticism of the Bank of England last night as she warned policymakers of “talking Britain into a recession”.
Equity exodus continues as UK investors pull £416m from funds August 5, 2022 Nervous UK investors are pulling cash from equity funds in droves as soaring inflation continues to batter global stock markets.
Andrew Bailey hits back at Suella Braverman saying Bank of England did not raise rates too late August 5, 2022 The Governor of the Bank of England, Andrew Bailey, has defended not raising interest rates earlier. His comments come after Attorney General Suella Braverman said interest rates “should have been raised a long time ago and the Bank of England has been too slow in this regard”. Bailey told BBC Radio 4’s Today programme: “If [...]
Analysis: Historic day in the Bank of England’s 25 years of independence August 4, 2022 Today was one for the history books. The biggest jump in interest rates since the Bank of England was made independent 25 years ago. A looming recession similar in length to the financial crisis. The first time the Bank has raised rates while forecasting a protracted slump in recent memory. It is a lot to [...]
Brace for another financial crisis style recession, Bank of England warns August 4, 2022 The UK is set to slump into a recession comparable to the financial crisis, driven by the biggest inflation surge in 42 years, the Bank of England warned today. Britain’s economy will shift into reverse in the final three months of this year and stay there until the final months of next year, placing it [...]
Dealmakers circle British firms as UK tops inward investment August 4, 2022 International dealmakers have set their sights on British firms this year with the UK now the top target in Europe for inbound and domestic investment, research today reveals.