Euro 2020: Pubs and restaurants reap rewards of England’s success July 16, 2021 Euro 2020 provided a windfall for pubs and restaurants as the country reached for pints whilst watching England reach their first final since 1966, new research released today shows. Latest spending data from Lloyds Bank shows spending in pubs and restaurants surged during Europe’s flagship men’s international football tournament, rising 52 per cent compared to [...]
Covid unlocking lifts card spending above pre-pandemic levels July 16, 2021 The initial lifting of Covid restrictions in April provided a shot in the arm for card spending in the UK, shows new figures released today. Data from UK Finance reveals the value of card transactions in the UK in April was 11.2 per cent higher than in the same in 2019, before the onset of [...]
US stocks lose ground despite strong jobless claims July 15, 2021 US stocks fell on Thursday despite strong jobless claims data strengthening the outlook for the American economy. The blue chip S&P 500 dropped 0.65 per cent today, while the tech-heavy Nasdaq fell 1.14 per cent on falls among growth stocks. The Dow Jones slipped 0.17 per cent. Read more: US stocks muted as Powell moves [...]
Exclusive: London workers flood back to the office ahead of freedom day July 15, 2021 Workers in London are already returning to the office in their droves ahead of the lifting of all Covid restrictions on 19 July. Research shared exclusively with City A.M. by Land Sec shows 70 per cent of London office workers are already coming into the office at least one day a week. Read more: So [...]
Mounting inflation could trigger early end to BoE’s bond buying July 15, 2021 An external member of the Bank of England’s monetary policy committee has warned that surging inflation could prompt the central bank to end its bond buying programme early. Michael Saunders said in a speech on Thursday: “if activity and inflation indicators remain in line with recent trends… options might include curtailing the current asset purchase [...]
Oil prices slide further as traders brace for supply increase July 15, 2021 Oil prices slid further on Thursday as traders prepare for a wave of supply to flood the market. Benchmarks WTI Crude and Brent Crude were down 1.01 per cent and 0.92 per cent respectively today. Read more: Opec+ end deadlock over oil supply policy, says source Prices slid two per cent yesterday after news broke [...]
Morgan Stanley beats expectations as investment banking income climbs July 15, 2021 US bank Morgan Stanley smashed analysts’ expectations for second quarter earnings and revenue, driven by record levels of capital market activity boosting its investment banking business. Revenue at the banking giant came in at $14.8bn, much higher than the $13.98bn estimate. Earnings per share hit $1.85, topping analysts’ estimates of $1.65. Read more: JPMorgan profits [...]
Inflation to soar to four per cent, warns BoE deputy governor July 15, 2021 The deputy governor of the Bank of England has warned that inflation could soar as high as four per cent, double the Bank’s target. Sir Dave Ramsden said in a speech on Wednesday that he “wouldn’t be surprised to see the whole inflation rate potentially rising as high as four per cent for a period [...]
UK banks expect a rush of defaults in coming months July 15, 2021 UK banks expect defaults to rise over the coming months as households struggle to service debt taken on to cope with the financial pressures of the Covid crisis, new figures released today reveal. According to the Bank of England’s latest Credit Conditions Survey, banks expect default rates on unsecured lending – or credit card lending [...]
Covid: Balearic Islands added to amber travel list July 14, 2021 The Balearic Islands will be moved onto the government’s amber travel list on Monday over fears that Covid cases are rising rapidly in the region. Ibiza, Majorca, Menorca and Formentera will be added to the list at 04.00 BST on Monday, two weeks after the group of islands was moved onto the green watch list. [...]