FTSE 100 close: Softening China economy hits London index as WH Smith and B&M soar May 31, 2023 London’s FTSE 100 was dragged lower today by softer than expected data from China signalling the world’s second largest economy is on the wane. The capital’s premier index slid 0.98 per cent to 7,448.01 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.45 [...]
Over a third of Londoners now travelling into the office more frequently as strikes fail to deter commuters May 31, 2023 Rail strikes have failed to stop Londoners heading into the office this year, new data shows. Almost two in five Londoners (38 per cent) are commuting more frequently than they were at the start of the year, according to new data from Virgin Media’s O2 Business Mover Index, covering January to March. Wednesday was the [...]
Court date set for climate activists’ legal challenge over new coal mine May 31, 2023 Climate activists are set for a courtroom showdown with the government over a newly-approved coal mine in West Cumbria.
Falling value of commercial real estate likely to hit European banks, RBC warns May 31, 2023 The European banking sector could be at risk from the weakening outlook for commercial real estate, analysts have warned. In a note, Anke Reingen, analyst at Royal Bank of Canada, argued that European banks are “likely to take some hits from the worsening [CRE] sector outlook”. CRE has faced widespread problems in recent months as [...]
Explainer: Why Erdoğan refuses to let Sweden join NATO May 31, 2023 This is a big week in foreign policy. Rishi Sunak is preparing for his trip to Moldova tomorrow, to attend the European Political Community Summit, where he hopes to talk about migration and support for Ukraine. Yet with the newly re-elected Recep Tayyip Erdoğan also invited, there’s another issue that might overshadow the Summit, something [...]
Rail strike pain is National Express’ gain: Bumper coach bookings as Brits find ways to reach Wembley, Epsom and Beyonce May 31, 2023 National Express has seen a 30 per cent jump in travel bookings over the week of rail strikes, figures shared with City A.M. show, as passengers flocked from rail to coach to get around the country. The long distance bus and coach group, who operate around 1,500 journeys per day in the UK, warned “we [...]
Monzo: Digital bank narrows losses as it chases fintech rivals toward profitability May 31, 2023 London-based challenger bank Monzo said it narrowed its losses last year and has now swung into the black as it scrambles after its rivals in the race to reach steady profitability.
House sales drop by almost a third as market braces for slowdown in mortgage approvals May 31, 2023 The number of houses sold in the UK has fallen by almost a third as the market struggles to upkeep the momentum from a surge in sales at the start of spring. UK residential transactions fell 32 per cent in April with 67,220 homes sold, figures from HMRC show, 32 per cent lower than April [...]
Putin ally Medvedev says UK officials are ‘legitimate targets’ due to Ukraine support May 31, 2023 British public officials are a “legitimate military target” because of the UK’s support for Ukraine, former Russian president Dmitry Medvedev has warned. Mr Medvedev, deputy chairman of Vladimir Putin’s security council, claimed the UK’s support for Kyiv amounted to an “undeclared war” against Russia. His comments came after Foreign Secretary James Cleverly said Ukraine had [...]
National Grid looks for supply chain partners to deliver £9bn renewable ramp up May 31, 2023 National Grid is looking for more supply chain partners to help deliver a vast ramp up in clean energy infrastructure.
