Brits ignore PM’s diet plea as spending on takeaways surges September 8, 2020 Worried about the nation’s weight, Prime Minister Boris Johnson launched an anti-obesity drive in July. But the latest spending data suggests Britons resoundingly ignored his advice. Spending on takeaways and fast food jumped 20.7 per cent year on year in August, according to Barclaycard data released today. That was the biggest rise since the measure [...]
Exclusive: BoE’s chief economist Andy Haldane warns against furlough extension September 7, 2020 The Bank of England’s chief economist has warned against extending the government’s job retention scheme, saying that such a move would prevent a “necessary process of adjustment” taking place. Amid growing calls from industry groups to keep the furlough scheme in place for certain sectors, Andy Haldane told the City A.M. podcast that the Coronavirus [...]
FTSE 100 jumps after global sell-off as pound slides September 7, 2020 The FTSE 100 and European stocks rose sharply as investors recovered their poise after a sharp sell-off in global stocks last week, with a falling pound boosting London’s blue-chip index. The FTSE 100 extended its morning rebound and was trading 2.46 per cent higher in afternoon trading. London’s FTSE 250 index of smaller firms also [...]
Eurozone investor morale rises for fifth month in a row September 7, 2020 Investors became increasingly confident about the Eurozone’s economic recovery in September, with a closely watched sentiment gauge hitting its highest level since February. The Sentix Eurozone economic index came in at minus eight this month, up from minus 13.4 in August. It was the fifth straight rise since the index slumped to minus 42.9 in [...]
Homeless shelter investment firm plans £250m London float September 7, 2020 Homeless accommodation provider Home Reit has this morning announced that it will float on the London Stock Exchange market next month. The trust, which seeks to invest in accommodation for homeless people across the UK, is looking to raise £250m from the initial public offering. The first real estate trust to float in London since [...]
The City View: Rational markets and innovative central banks? An investor’s guide to the crisis, with Phil Smeaton September 7, 2020 In this episode Christian talks to Phil Smeaton, chief investment officer for Sanlam Private Wealth, about how markets have behaved in recent months and the forces that could shape them over the rest of this year. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Phil discusses the fall in the value of the US dollar; the US [...]
FTSE 100 rises but Wall Street falls again on job data September 4, 2020 The FTSE 100 reversed yesterday’s losses, closing in on the 5,900 point level this morning despite last night’s ferocious sell-off of US tech stocks dragging markets down overnight. By the early afternoon London’s premier index was 0.7 per cent up at 5,888.96. The FTSE 250 index of mid caps also rose 0.2 per cent. However, [...]
Non-farm payrolls: 1.4m more Americans back in work in August September 4, 2020 A further 1.4m people entered employment in the US in August as the unemployment rate fell from 10.2 per cent to 8.4 per cent. The increase was marginally above economist predictions of a 1.35m rise. However, the figure was down on July’s increase of 1.7m amid fears the US’ economic recovery from the coronavirus pandemic [...]
Rishi Sunak must walk a tightrope on his pitch of Tory economic competence September 4, 2020 Yesterday Rishi Sunak was photographed carrying a note with the text of his address to the 1922 Committee. This was something we lived in constant fear of when I worked in No.11. One day I forgot to put a folder round a note I was carrying on our 2018 Budget ‘rabbit’ and subsequently spent the next six [...]
British Gas to acquire council energy supplier Robin Hood September 4, 2020 British Gas owner Centrica has today announced that it will acquire council energy supplier Robin Hood’s customers for an undisclosed amount. As a result of the sale, which will complete on 16 September, 250 staff will lose their jobs, the Telegraph reported. Robin Hood’s 112,000 residential customers and its 2,600 business customers will be transferred [...]