Shop prices fall faster in June June 30, 2021 The price of goods in UK shops fell at a faster rate in June than in May as businesses sought to maintain momentum in consuming spending, according to data published today. The British Retail Consortium’s Shop Price Index showed shop prices dropped 0.7 per cent annually in June, a faster rate than May’s 0.6 per [...]
British savings jump during lockdown as UK GDP slips June 30, 2021 British households increased their savings sharply at the beginning of the year as the third coronavirus lockdown closed pubs, restaurants and shops. The UK’s savings ratio, which measures the income households saved as a proportion of disposable income, rose to 19.9 per cent from 16.1 per cent in the fourth quarter of 2020. This was [...]
UK’s debt risks soaring by over £100bn due to post-pandemic inflation June 29, 2021 The Bank for International Settlements (BIS) today published its annual report today, suggesting that the UK’s post-pandemic debt could rise by over £100bn due to inflation. In its report, the Swiss-based bank set out its outlook for global recovery from the Covid pandemic. Its primary scenario was one of solid recovery but at uneven rates, [...]
Pound dips below $1.39 on mounting concerns over Delta variant June 29, 2021 Pound sterling dipped below $1.39 today as concerns about the Delta variant of coronavirus gather momentum. The pound was down 0.26 per cent against the greenback to buy $1.38 this afternoon. The fall suggests investors are concerned that the rapid spread of the Delta variant of coronavirus first identified in India could impact the UK’s [...]
Steel industry to write off up to $70bn in assets if it keeps betting on coal, report says June 29, 2021 As the world gears up towards net zero, the global steel industry may have to write off up to $70bn in assets, a report has cautioned. The report by think tank Global Energy Monitor (GEM) warned the lofty figure is due to the industry continuing to build new blast furnaces using coal that will become [...]
Consumer credit borrowing exceeds repayments for first time since August June 29, 2021 Households borrowed more in consumer credit than they repaid in May for the first time since August, according to Bank of England data published on Tuesday. Net consumer credit was £280m in May, reversing a trend seen throughout the majority of the pandemic as households reined in spending whilst the economy was shuttered. The positive [...]
London’s FTSE 100 weighed down by consumer and airline stocks June 28, 2021 London’s FTSE 100 dipped lower today, weighed down by losses in financial and consumer stocks, with banking stocks some of the biggest decliners of the month. Banks, industrials and mining stocks were down between 0.1 per cent and 0.7 per cent after leading the gains last week as investors sectors that look to benefit as [...]
32 reasons not to invest in the stock market June 28, 2021 | City Talk Wars, disasters, economic strife, political instability and now a pandemic – the last four decades have challenged and affected people’s attitude towards investing. In many cases they make an already tough decision to commit your money to investments even harder, leading some to not invest at all. Behavioural scientists have a name for this: loss [...]
Anglo American sells stake in Colombian coal mine for $300m June 28, 2021 Anglo American has offloaded its stake in a Colombian mine as the mining giant finalises its shift away from thermal coal. The London-listed company today said it has sold its 33.3 per cent interest in the Cerrejon joint venture to rival Glencore for $294m (£211m). “Today’s agreement marks the last stage of our transition from [...]
Exclusive: Ad tech firm that shuns cookies and has Amazon and D&G as clients to float on AIM June 27, 2021 Exclusive: AI marketing firm that shuns cookies and has Amazon and D&G as clients to float on AIM