Hoo Hing: London’s largest Chinese supermarket defies sterling slump to return to profit Retail London’s biggest Chinese grocery group has returned to profit, despite being hit by a weaker pound and falling revenue. Dagenham-based Hoo Hing Holdings was founded in the 1970s and has superstores in Mitcham, Milton Keynes and Park Royal. It posted a small pre-tax profit of £167,559 for the 12 months to the end of June [...]
FTSE 100 Live: Index hits record as HSBC, St James’s stock rally Markets Good morning and welcome back to the City AM liveblog. There’s a number of factors weighing on global markets at the moment, and yet the FTSE 100 was able to close Tuesday’s session unscathed. It came despite President Donald Trump’s new 10 per cent tariffs coming into effect, sending some jitters across global indexes. But [...]
FTSE 100 Live: Pound at 2021 high as Trump shrugs at dollar woes Markets Good morning and welcome back to the City AM liveblog. Has the mining sector’s rally finally run out of steam? It appeared so on Tuesday, where City banks helped lift the FTSE 100 out of the red as miners across the board sank despite the ever-increasing price of precious metals. Fresnillo – the best performing [...]
Sterling surges to highest in four years amid dollar weakness January 27, 2026 Sterling touched its highest level against the dollar in four years on Tuesday as selling pressure on the greenback intensified. The pound was trading at $1.376, its highest level since 2021, while the euro also rose to multi-year highs on Tuesday afternoon, continuing a poor run for the dollar. In January alone the dollar index [...]
Pound sinks to seven-month low after Reeves spikes tax fears November 4, 2025 The pound took a plunge this morning after Chancellor Rachel Reeves spooked the markets with a speech laying the groundwork for big tax hikes in her Autumn Budget. Sterling fell to its lowest since April against the dollar this morning at $1.30 – a 0.46 per cent loss today alone. The pound was also struggling [...]
Pound falls to 2023 low against Euro as Budget jitters spike October 29, 2025 The Pound suffered a sharp drop on Wednesday as investors braced for an economic hit in Rachel Reeves’ forthcoming Budget. Sterling’s downturn came as the UK’s fiscal watchdog looks set to hand a hefty downgrade to the country’s productivity growth. On Wednesday morning, the pound fell 0.4 per cent against the Euro to 1.13 – [...]
How Reeves could ‘trigger’ bond market fright and collapse UK economy October 9, 2025 Poor decisions made by Rachel Reeves at the next Budget could send the UK economy into a crisis if her announcements trigger a collapse in bond markets’ confidence, according to a scenario played out by analysts at Oxford Economics. Rachel Reeves has pledged to drive growth in the UK and lower the cost of living [...]
Pound edges up against dollar after Trump’s latest Fed attack August 26, 2025 The pound gained from a turbulent US dollar trading session on Tuesday after the greenback was stung by President Donald Trump’s attacks on the Federal Reserve. The dollar index (DXY) – which tracks the dollar’s value against a basket of currencies – tumbled as much as 0.4 per cent as Trump said he had “sufficient [...]
FTSE 100 and sterling take a hit after Israel strikes Iran June 13, 2025 The FTSE 100 and pound tumbled Friday morning after Israel launched a flurry of strikes targeting Iran’s nuclear programme. The UK’s blue-chip index was down 0.6 per cent during early trading, led by a slump in the airline sector. BA parent IAG and low-cost airline Easyjet were down nearly four per cent following the crash [...]
Pound edges closer to multi-year high against dollar amid erratic US tax policy June 2, 2025 The pound has edged closer to a multi-year high against the dollar as investors doubled down on predictions that the greenback would continue to weaken into the second half of the year. Sterling was up around 0.6 per cent against the dollar by Monday evening to $1.3523, a rise of more than 8 per cent [...]