US jobless claims fall to 13-month lows as reopening continues apace May 6, 2021 The fewest Americans applied for unemployment benefits as have done so in 13 months last week, new data from the US Labor Department shows. Initial claims fell from 590,000 to 498,000 in the week ending 1 May, the figures show, below economists’ forecasts. The number was one of several pieces of economic data that suggested [...]
FTSE 100 rises slightly after Bank of England decision May 6, 2021 The FTSE 100 rose slightly this afternoon after the Bank of England monetary policy committee decided to hold interest rates at 0.1 per cent. Across the Atlantic, trading was also stagnant, with Wall Street’s main markets flat at the open. By the early afternoon, London’s premier index was up 0.1 per cent down at 7,047.31, [...]
Majority of Rio Tinto investors revolt over former chief’s pay due to Juukan Gorge destruction May 6, 2021 A majority of Rio Tinto investors today revolted over its former chief executive’s lucrative exit pay package at the miner’s AGM. Jean-Sebastien Jacques quit as the FTSE 100 firm’s boss last year after the mining giant destroyed 46,000-year-old rock shelters at Juukan Gorge in Australia a year ago. Despite having his bonus renumeration stripped away, [...]
UK could be left behind rest of Europe on travel, Easyjet boss warns May 6, 2021 The boss of Easyjet has warned that the UK could be left behind the rest of Europe if the government approves travel to only a small handful of countries from 17 May. Tomorrow ministers will lay out the initial list of destinations that will be on the UK’s green list for travel from the middle [...]
UK PMIs: Service sector grew at fastest rate since 2013 in April May 6, 2021 The UK service sector grew at the fastest rate since 2013 in April as the economic recovery from the Covid-19 pandemic continues apace. The UK Composite Purchasing Managers’ Index (PMI) for services rose to 61 in April, up from 56.3 in March. Any score above 50 indicates growth. It beat flash estimates of a reading [...]
Engineer Melrose warns chip shortage could slow its growth May 6, 2021 Engineering firm Melrose warned that the global shortfall in semiconductors would have an impact on its growth in 2021. The FTSE 100 company said that sales over the first four months of 2021 were 8.0 per cent higher than last year, with operating margins having recovered quicker than expected. But, the GKN owner cautioned that [...]
Liberty Steel appoints new restructuring committee as firm seals deal for Australian steelworks May 5, 2021 Sanjeev Gupta’s Liberty Steel has today announced that it will set up a restructuring committee made up of four new directors in a bid to refinance the group after the collapse of Greensill in March. In a statement, the firm, which is a subsidiary of the tycoon’s GFG Alliance, said that the new execs would [...]
Stockpile key battery metals to avoid ‘looming mismatch’, governments warned May 5, 2021 Governments around the world should consider strategically stockpiling metals critical for energy transition technologies to avoid the “looming mismatch” between their climate intentions and the availability of such materials. A new report by the International Energy Agency (IEA) today said that countries should act now to shore up supplies of metals such as nickel, lithium, [...]
Travel finance start-up raises £10m to build up US operations May 5, 2021 A new fintech firm offering users the chance to split the cost of travel over 12 months has raised another £10m in funding, it was announced today. Start-up Fly Now Pay Later has now raised a total of £45m in funding following the close of its latest round, co-led by asset management firms Revenio Capital and [...]
Reopening of showrooms boosts new car sales in April May 5, 2021 The reopening of England’s car showrooms boosted sales of new vehicles in April, prompting the car industry to hail the “light at the end of the tunnel” after lockdown. In total, 141,583 new vehicles were registered last month, a thirty-fold jump on the same month a year ago, when the initial coronavirus lockdown all but [...]
