IMF: UK economy to toy with recession this year – and fall to the bottom of global growth leaderboard April 11, 2023 Britain is steering toward the bottom of the G7 economic growth table this year and will toy with a recession for most of 2023, the world’s economic watchdog warned today. UK gross domestic product is tipped to shrink 0.3 per cent per cent in 2023, the weakest performance of any economy in the group of [...]
IMF: Risks to financial stability have ‘increased rapidly’ but won’t threaten fight against inflation April 11, 2023 Risks to financial stability have “increased rapidly” since October last year but they were unlikely to be big enough to distract central banks from fighting inflation, the International Monetary Fund (IMF) said today. The global economic watchdog’s biannual financial stability report pointed to a range of different threats to financial stability following the turmoil in the banking [...]
FTSE 100 close: Glencore and Rio Tinto power London index upwards despite downbeat IMF projections April 11, 2023 London’s FTSE 100 kicked off a shortened trading week in robust fashion today, lifted by miners scaling higher despite the International Monetary Fund (IMF) warning the global economy is on course to suffer a sharp slowdown over the coming decade. The capital’s premier index jumped 0.57 per cent to 7,785.73 points, while the domestically-focused mid-cap [...]
Tupperware warns it will go bust unless it can improve finances April 11, 2023 Tupperware, the US maker of reusable food storage containers, has warned that it will go bust unless it can quickly improve its finances. Shares in the business tanked nearly 50 per cent on Monday after it revealed there was “substantial doubt” about its ability to continue. The 77-year old brand said that it was “actively [...]
“A dramatic tragedy”: Swiss parliament split on UBS takeover of Credit Suisse April 11, 2023 Swiss authorities defended the state-brokered merger of the country’s two largest banks, UBS and Credit Suisse, in an emergency parliamentary session called to scrutinise the decision. The Swiss President, Alain Berset, argued “the Federal Council was obliged to intervene to maintain stability both in Switzerland and internationally and to protect the economy.” “A failure of [...]
GCHQ: MI5 to appoint first female spy chief in its 100-year history April 11, 2023 A woman will become the boss of GCHQ for the first time in its more than 100-year history when the current director steps down next month. Foreign Secretary James Cleverly announced that Anne Keast-Butler has been appointed to succeed Sir Jeremy Fleming as head of the government’s intelligence organisation. Keast-Butler, currently MI5’s deputy director-general, will [...]
Flight to safety: Money market funds see 5,998 per cent inflow in first quarter April 11, 2023 Money market funds and short term money market products have seen a staggering 5,988 per cent increase in net flows in the first quarter, according to data from Hargreaves Lansdown Money market funds invest in high-quality, short-term debt, and they generally offer slightly higher returns than bank deposits. As interest rates have risen at their [...]
Newmont tables £15.7bn mega offer for rival Aussie gold miner Newcrest April 11, 2023 US gold miner Newmont has ramped up its bid for Aussie rival Newcrest with a massive £15.7bn ($19.5bn) final offer.
Klarna and Zilch sound the alarm on planned BNPL rules as key consultation closes April 11, 2023 Klarna and Zilch have sounded the alarm over the scope of planned buy-now pay-later (BNPL) rules today as ministers close a key consultation before bringing the sector into regulation later this year. The government has been sounding out the industry for its input on proposed rules after first laying out plans to clampdown on firms [...]
UK standalone 5G rollout to be finished by 2030, ministers pledge April 11, 2023 Ministers are set to invest millions in boosting the UK’s connectivity via a nationwide rollout of 5G. All populated areas of the country will be covered by ‘standalone’ 5G – also called ‘5G-plus’, which is not reliant on existing 4G technology – by 2030, the government has pledged. Technology secretary Michelle Donelan today unveiled a [...]
