Nearly all investors think inflation will rise faster than expected September 1, 2021 Almost all professional investors expect a larger than expected hike in inflation in the next year, according to a new study. Research from Tabula Investment Management reveals 95 per cent of investors think inflation will progress at a clip much higher than leading market commentators’ predictions. Investors expect inflation to surge ahead of expectations as [...]
Huw Pill succeeds Andy Haldane as Bank of England’s chief economist September 1, 2021 The Bank of England has appointed Huw Pill as its new chief economist, ending a prolonged search for Andy Haldane’s successor, it announced today. Pill joins the Bank of England from Harvard Business School, where he has been a senior lecturer since 2018. Prior to teaching, he was Goldman Sachs’ chief European economist and has [...]
Former HSBC boss John Flint lands UK Infrastructure Bank chief executive job September 1, 2021 John Flint, the former CEO of HSBC, has been appointed as the first chief executive officer of the new government-backed UK Infrastructure Bank. Chancellor Rishi Sunak has tasked Flint with leading the Bank’s mandate to identify and finance infrastructure projects as part of the government’s “levelling up” agenda. The UKIB was first announced at the [...]
Severe shortages clamp down on UK manufacturing growth September 1, 2021 Severe shortages of raw materials and workers and transport delays have compounded to clamp down on growth in the UK manufacturing industry, according to a closely watched survey published today. The latest IHS Markit / CIPS purchasing managers’ index edged down to 60.3 in August, a five-month low, dropping from July’s reading of 60.4. Despite [...]
US financial markets watchdog chief warns cryptocurrency platforms will not survive without oversight September 1, 2021 The chief of the US financial markets watchdog has warned that cryptocurrency trading platforms are unlikely to have any future unless they collaborate with regulators. Gary Gensler, chairman of the Securities and Exchange Commission, that if the industry is going “to have any relevance five and 10 years from now, it’s going to be within [...]
Biden doubles down on decision to withdraw US troops from Afghanistan September 1, 2021 US president Joe Biden has doubled down on his decision to withdraw American soldiers from Afghanistan. In a speech delivered from the White House last night, Biden reiterated that staying in the country beyond the 31 August deadline was not an option. In an address to the nation, Biden said 5,500 Americans had been evacuated [...]
UK house prices jump unexpectedly in August September 1, 2021 UK house prices jumped unexpectedly in August driven by strong demand for homes in the lower segment of the market, according to new figures released today. Data from Nationwide shows house prices rose 11 per cent annually in August, up from July’s 10.5 per cent increase. The shock rise is likely being driven by the [...]
AIM dividends climb from Covid depths in second quarter September 1, 2021 Dividends paid by companies listed on the junior AIM stock market are rebounding sharply from the depths of the Covid crisis, according to fresh figures published today. Research by Link Group shows underlying dividends distributed by AIM companies shot up 56.6 per cent to £265m compared to the same period last year. For the year [...]
Supply chain bottlenecks push shop prices higher September 1, 2021 Severe supply chain bottlenecks and persistent shortages of microchips drove shop prices higher over the last month, according to fresh figures published today. The British Retail Consortium’s latest shop price index shows shop prices climbed 0.4 per cent in August, up from a 0.5 per cent fall in prices in July. Logistics firms have struggled [...]
Sliding tech stocks weigh on Wall Street August 31, 2021 US stocks slipped today as poor performances among technology heavyweights weighed heavily on Wall Street’s main benchmarks. The tech-heavy Nasdaq slipped 0.10 per cent to 15,250.36 points, led down by losses among Apple, Microsoft and Amazon. The blue-chip S&P 500 and the Dow Jones both inched up, rising 0.02 per cent and 0.08 per cent [...]