FTSE 100 close: London index squeezes out gain as UK economy unexpectedly flatlines in February April 13, 2023 London’s FTSE 100 nudged higher today after fresh figures showed the UK economy unexpectedly stalled in February, while Tesco clocked decent gains despite posting a big profit slump. The capital’s premier index edged 0.24 per cent higher to close at 7,843.39 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
Sunak insists he is ‘low-tax’ Tory – as UK set for record burden April 13, 2023 Prime Minister Rishi Sunak has insisted he is a “low-tax Conservative” despite the UK being on course for the highest burden of the post-war years. Sunak maintained he wanted “to make sure we can lower taxes over time” but said it was vital to “get inflation down and get borrowing under control” as a first [...]
Unemployment must be higher to keep a lid on inflation, Bank of England’s Huw Pill claims April 13, 2023 A greater proportion of the UK population than before the recent series of economic shocks may need to be unemployed in order to keep a lid on inflation, the Bank of England’s chief economist has claimed today. Huw Pill, who succeeded Andy Haldane as the Bank’s top wonk, was speaking at an event hosted by [...]
Waterloo Station: Commuters should expect ‘severe disruption’ on way home after signal failures cause havoc April 13, 2023 A ‘major’ signalling fault has caused severe train delays at the station today, which look set to continue until throughout the afternoon. Trouble began at 3am this morning, as the main power supply to the signaling system on platforms 1 to 4 failed. Angry London commuters were told by Network Rail, “do not travel to [...]
UK banks report more defaults – and it’s likely to get worse April 13, 2023 Banks and building societies have seen an uptick in defaults in both secured and unsecured lending – a trend that is expected to continue over the next three months, according to new data published by the Bank of England today. In the three months to February, UK lenders included in the Bank’s credit conditions [...]
EY’s UK bosses prepare to cut costs after split plan is ditched April 13, 2023 EY’s UK bosses are reportedly discussing cost-cutting measures after the firm dropped its plan to separate its consulting and audit divisions earlier this week. EY’s global executive committee announced on Tuesday that it had ditched the plan, known as ‘Project Everest’, following opposition from its US unit. According to a recording of an internal call that [...]
Total ‘underestimate business risks’: Activist investors to disrupt AGM over fossil fuel failures April 13, 2023 Total Energies “completely underestimates the business risks” of being over-reliant on fossil fuels warns Follow This.
OPEC cites risks to summer oil outlook, holds demand forecast April 13, 2023 OPEC has flagged downside risks to summer oil demand as part of the backdrop to shock output cuts announced by OPEC+ producers.
Royal fever? Not quite, as Brits opt for Lanzarote over London to celebrate coronation weekend April 13, 2023 It would appear Brits are keen to escape the coronation weekend with holiday bookings surging over the bank holiday weekend, according to travel groups. Barrhead Travel reported that bookings are over 55 per cent higher for the King’s coronation bank holiday than in the same period in 2019, with Tenerife, Costa Blanca, Florida, and Canada [...]
Dame Mary Quant: British fashion designer who popularised the mini skirt dies aged 93 April 13, 2023 Fashion designer Dame Mary Quant, who was widely credited with popularising the mini skirt, has died at the age of 93, her family said. The British fashion designer died peacefully at her home in Surrey on Thursday morning, a statement from her family to the PA news agency said. A statement released on behalf of her family [...]
