UK economy set to eke out anaemic growth in set of muddled GDP figures November 9, 2021 The UK economy is set to squeeze out anaemic growth as the recovery from the Covid-19 crisis continues to slow, according to City economists. Severe supply chain bottlenecks, compounded by soaring energy prices, logistics systems breaking down and a paucity of workers has crimped businesses. As a result, the size of the British economy is [...]
Firms hike pay at record print to lure workers amid labour squeeze November 5, 2021 Businesses are being forced to hike pay at the fastest pace on record to lure talent amid severe worker shortages. Hot competition for fresh staff, compounded by a paucity of available candidates, has led to employers raising starting salaries at the steepest rate since records began, research by KPMG and the Recruitment and Employment and [...]
Bank of England leaves rates at record low despite expecting persistent inflation spike November 4, 2021 The Bank of England today decided to scupper a flurry of bets on interest rate hikes and leave them unchanged at a record low. Despite mounting speculation from financial markets, economists and experts, the Old Lady left interest rates at 0.1 per cent and will see through the final leg of its QE programme. The [...]
Inflation to peak at five per cent, warns Bank of England November 4, 2021 The Bank of England will persistently miss its inflation target over the next two years, according to fresh forecasts published by the Old Lady today. Officials on Threadneedle Street expect the rate of price rises to peak at five per cent in April next year and stay above its two per cent target in two [...]
US Fed becomes first major central bank to blink as it reins in Covid-19 stimulus November 3, 2021 The US Federal Reserve has become the first of the world’s major central banks to blink in the face of soaring inflation. The Fed today decided to rein in the wave of stimulus it unleashed in response to the Covid-19 crisis and slash the scale of its monthly QE programme by $15bn starting this month. [...]
Top finance brass: City grandees need to show off green stripes to rake in bonuses November 3, 2021 City grandees will need to show off their green stripes to rake in bumper bonuses, some of the finance industry’s top brass said today. The chief of one Britain’s biggest banks, part state-owned NatWest, sent a warning shot to the bank’s top dogs that their environmental track record will be considered when awarding bonuses. Speaking [...]
No pocket money: PM to oversee worst disposable income growth in 70 years November 3, 2021 The current Tory government will oversee the worst rate of disposable household income growth out of any parliament over the last seven decades. Brits’ will only receive a 0.5 per cent jump in their real incomes under Boris Johnson’s government, research by the economic think tank the Resolution Foundation has found. A combination of severe [...]
Ex-Barclays chief Staley to receive £22m bonus windfall November 3, 2021 Former Barclays chief Jes Staley who quit this week to fight the findings of a report into his relationship with convicted sex offender Jeffrey Epstein is in line receive bonuses of up to £22m. The American banker could receive around 11m shares in the bank he headed for six years if it hits performance goals [...]
UK businesses jack up prices at record pace amid cost onslaught November 3, 2021 UK services businesses are hiking prices at the fastest pace in history to cope with an onslaught of swelling costs. A vortex of soaring energy, fuel and staffing costs lured services firms to jack up prices in a bid to survive an assault on their margins, according to a closely watched survey. More to follow.
FTSE 100 dragged down by Darktrace continuing to tank November 3, 2021 Darktrace shares continued to plummet during the opening session today, dragging London’s premier index down with it. The capital’s FTSE 100 index dipped 0.20 per cent to 7,260.25 points. However, the mid-cap FTSE 250 fared better, eding up 0.06 per cent to 23,154.92 points. More to follow.