UK service sector slows to weakest growth for six months August 3, 2023 The UK’s services sector grew at its slowest rate for six months in July as subdued consumer demand and higher interest rates weighed on businesses, according to new data. The influential S&P Global/CIPS UK services PMI survey showed a reading of 51.5 last month, down from 53.7 in June. Any reading above 50 indicates growth [...]
Monzo staff comms reveal anti-Tory messages as de-banking scandal grows August 3, 2023 Monzo staff made multiple disparaging remarks about the Conservative party, according to reported internal company messages, as a growing row about lenders closing individuals bank accounts engulfs the banking sector. The internal communications, reported by The Telegraph, show staff describing Tories as “evil”, and called for Conservative MP Jacob Rees-Mogg to “do the human race [...]
QB legend Tom Brady switches NFL for football with Birmingham City investment August 3, 2023 Tom Brady, the seven-time Super Bowl champion, has invested in Birmingham City alongside existing shareholder Tom Wagner
London rent crisis deepens: Costs may soar to £2,700 as families face being driven in to poverty August 3, 2023 Average rental costs in London may soar to £2,700 per month next year, new figures suggest. Families in the city are being driven into poverty by “sky-high” rents, campaigners warned. The figures, gathered by City Hall, mean that many Londoners can expect to pay £133 more than the current average of £2,567 calculated by Rightmove. [...]
The Notebook: Victoria Scholar on Muskisms, Barbie and why there’s light at the end of the rate-rising tunnel August 3, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Victoria Scholar of Interactive Investor Little relief from interest rates yet, but there is light at the end of the tunnel The Bank of England is forecast to raise interest rates for the 14th time in a row today, lifting [...]
Biden team: US credit rating decision ‘bizarre’ – and it’s Trump’s fault August 2, 2023 Biden administration officials complained on Tuesday about ratings agency Fitch’s downgrade of the top U.S. government credit rating, saying the group used flawed methodology and ignored a resilient economy. Leading the charge was U.S. Treasury Secretary Janet Yellen, who issued a statement declaring “I strongly disagree with Fitch Ratings’ decision” minutes after Fitch announced it [...]
Donald Trump: Fresh charges brought against the ex president for bid to overturn the election August 2, 2023 Former US president Donald Trump has been charged by the US Justice Department for his efforts to overturn the results of the 2020 presidential election. The indictment focuses on schemes by Trump and his allies to subvert the transfer of power and keep him in office despite his loss to Joe Biden. It is the [...]
BMW warning over inflation and supply chain issues pressure sends shares down August 1, 2023 BMW lifted its annual outlook for its margin on earnings before interest and taxes in its automotive segment on Tuesday, but warnings of the impacts of supply chain challenges and inflation prompted a sell off from investors. The carmaker’s forecast mirrored that of competitors such as Mercedes-Benz which also raised their earnings outlook but warned the macroeconomic [...]
Number of ‘Isa millionaires’ surges to more than 4,000 – triple from pre pandemic August 1, 2023 The number of “Isa millionaires” has surged to more than 4,000, according to HM Revenue & Customs (HMRC) figures. Some 4,070 savers were sitting on Isa pots worth more than £1 million, as of April 2021, according to the data, obtained following a freedom of information (FOI) request on behalf of financial services network the [...]
Aston Martin to launch £210m share placing to reduce debt August 1, 2023 Luxury carmaker Aston Martin aid on Monday it will launch a £210m share placing to speed up its aim to reduce net leverage. Shareholders, who are represented on board, have committed to subscribe £184m, of which £115m worth of shares will be bought by Yew Tree Overseas, Public Investment Fund, Geely International and Mercedes-Benz AG. The [...]
