Threat of stagflation returns for first time since 1970s as UK enters early stage of drawn-out recession August 3, 2022 The UK is in the early stages of a drawn out recession that will tip millions of households into financial crisis, reveals fresh forecasts published today. An inflation surge driven by an unprecedented rise in energy bills will steer the economy into recession this quarter and keep it there until early months of next year, [...]
KKR slumps to second quarter loss as deals slowdown hits August 3, 2022 Investment giant KKR slumped to a loss in the second quarter of the year after market volatility sparked a slowdown in dealmaking and a fall in the return on its investments.
Poundland to open 25 UK stores this year as low-price giant exploits Brits’ hunger for cheaper products August 3, 2022 Poundland said this morning it plans to open and relocate 25 stores across the country in 2022. Ten new branches will be opened by the end of next month and 15 more before the year ends. The low-price retailer said it will primarily focus on high streets, retail parks, and neighbourhoods, with stores expected to [...]
Warner Bros axes new Batgirl movie following dismal reviews August 3, 2022 Warner Bros has shelved its upcoming “Batgirl” film after the movie was met with dismal reviews from viewers. According to reports from US media, the DC Comics film had received a poor reception at test screenings, forcing the studio to backtrack on the $100m (£82m) production. Leslie Grace was set to star as Batgirl, while Michael Keaton as [...]
Ping An proposal to break up HSBC gains momentum as small investors back plan August 3, 2022 HSBC investors are ramping up calls for the banking giant to break up as they side with Chinese insurance company Ping An. Pressure on the bank to shave off its Asian business into a separate company increased after a meeting with HSBC executives and Hong Kong investors yesterday, as small shareholders backed the proposal by [...]
Nintendo sales continue to slump as supply chains and fading engagement bite August 3, 2022 Sales for Nintendo Switch slumped agains this quarter as the Japanese tech giant struggles to maintain lockdown gaming boom.
Boris Johnson goes on holiday despite prime minister having less than five weeks in office August 3, 2022 Despite his premiership ending in less than five weeks time, Boris Johnson is to begin a summer holiday today. Downing Street would not give details of where the Prime Minister would be spending his time off from Wednesday until the end of the week. But the Prime Minister’s official spokesperson said Mr Johnson will remain [...]
Truss powers ahead as Sunak loses ground in Tory leadership race but ballot delay may work in his favour August 3, 2022 A reported ballot delivery delay over security concerns could give Rishi Sunak more time to make an impression before votes are cast as he appears to have lost ground in the Tory leadership race. A YouGov poll puts Liz Truss well ahead of Sunak in support from party members, with her lead increasing to 34 [...]
Hiscox shares plunge after insurer slumps to loss of £88m August 3, 2022 Insurance giant Hiscox slumped to a loss of $107m (£88m) in the first half of the year after a steep decline in the value of its investment portfolio.
Bank of England to rip up history books at this week’s rate decision August 3, 2022 Soaring inflation will force the Bank of England to do something it has never done since it was made independent 25 years ago, City economists are betting. Governor Andrew Bailey and the rest of the monetary policy committee (MPC) will hike interest rates 50 basis points this Thursday. The move would also mark the sixth [...]