US stocks scale to new heights … again September 2, 2021 Wall Street’s main benchmarks scaled to new record highs once again today, as investors brace for an expected bumper jobs report tomorrow. The S&P 500 and the tech-heavy Nasdaq both hit new peaks today, but pulled back slightly heading into the early afternoon session. The former was up 0.38 per cent to 4,541.45 points and [...]
Another Goldman banker or a much needed hawkish voice: Who is Huw Pill? September 2, 2021 Much has been made over whether the corridors of the Bank of England will resemble a Goldman Sachs office following the appointment of Huw Pill as the Old Lady’s new chief economist. It does follow a string of high-profile appointments at the Bank in recent years from the pool of Goldman alumni. Mark Carney, who [...]
Brexit: UK food and drink exports to EU plummet September 2, 2021 Food and drink exports from the UK have plummeted due to a sharp drop in trade with the EU after Brexit, according to fresh research published today. Data from the Food and Drink Federation shows overall UK exports of food and drink slid £2bn in the first half of this year, primarily the result of [...]
Barratt profits soar on red hot UK housing market September 2, 2021 A red hot UK housing market drove profits at housebuilder Barratt Developments up sharply over the last year, according to fresh results published today. The housebuilder posted a 65.1 per cent surge in pre-tax profits for the year-ended 30 June, reaching £812.2m, up from £491.8m in the previous year. Despite the recovery in net earnings [...]
Acquisitions of UK and Irish SMEs climb nearly 60 per cent September 2, 2021 Interest in acquiring UK and Irish SMEs peaked in the first half of this year as buyout firms and large companies seek to capitalise on undervalued high-growth businesses, according to research released today. Data from Dealsuite shows the number of small and medium businesses with revenue between £1m and £200m sold in the UK and [...]
IoD appoints former Labour MP Kitty Ussher as new chief economist September 2, 2021 The Institute of Directors has named former Labour MP Kitty Ussher as its new chief economist, the organisation announced today. Ussher has vast experience in providing macroeconomic and public policy advice, serving as the chief economic adviser to the cross-party think tank, Demos, and economic secretary to the Treasury during the financial crisis. Kitty Ussher [...]
CMC Markets shares slump 26 per cent on trading activity dip September 2, 2021 CMC Markets expects to capitalise on long-term growth opportunities, despite experiencing a dip in trading activity on its platforms. Investors ditched shares in the company this morning, with CMC Markets shares sliding more than 26 per cent to 308p. In a trading update released today, the trading platform said: “The Group continues to have confidence [...]
Morrisons added to FTSE 100, Just Eat booted from blue-chip index September 2, 2021 British supermarket chain Morrisons is joining London’s premier FTSE 100 index, while takeaway delivery service company Just Eat Takeaway.com has been booted from the benchmark of blue-chip stocks. Engineer Weir Group will also leave the FTSE 100, while defence technology company Meggitt will be added. Meanwhile, on the index of mid-cap companies, the FTSE 250, [...]
Gym Group swings to loss despite uptick in membership volumes September 2, 2021 The Gym Group swung to a loss in the first six month of this year despite a sharp uptick in membership volumes, according to half year results published today. The private gym operator posted a £28.5m loss before tax for the six months to June 30, down from just £100,000 from the same period last [...]
Surging tech megacaps power Nasdaq to another peak September 1, 2021 A surge among tech megacaps powered the Nasdaq to another record high during early trading on Wall Street today. The US’s tech-heavy benchmark has since fallen back from its fresh peak, but is still up 0.65 per cent to 15.358.32 points during mid-morning exchanges. The blue-chip S&P 500 jumped 0.18 per cent to 4,531.01 points [...]