US stocks scale to new record highs July 12, 2021 US stocks reached another record high on Monday as investors eagerly await the start of earnings season. The tech-heavy Nasdaq and blue-chip S&P 500 both scaled to new heights today, but inched back shortly afterwards. The S&P 500 rose 0.19 per cent during morning trading, while the Nasdaq added 0.06 per cent. Read more: FTSE [...]
UK business confidence surges to record high July 12, 2021 The approaching end of Covid restrictions on 19 July has propelled business confidence to its highest level on record, shows new research published today. Accountancy firm BDO’s latest optimism index jumped to 112.45 in June, up from 109.71, to its highest level since the survey started in 2005. The increase was the fifth consecutive month [...]
British businesses sell-off assets to offset Covid debt stress July 12, 2021 British businesses are sharpening their focus on longer term plans by disposing of non-essential assets at a rapid pace to offset debt taken on during the Covid pandemic, according to new figures published today. The value of carve-out deals by UK firms surged 182 per cent over the last year to £30.8bn, up from £10.9bn [...]
UK household wealth swells £900bn during Covid pandemic July 12, 2021 The stock of household wealth in the UK swelled by £900bn to £16.5 trillion over the course of the Covid pandemic, according to new figures published today. Research carried out by the Resolution Foundation shows middle-wealth families have experienced the biggest relative wealth rises of each household group, up 9 per cent, or £7,800, taking their average [...]
US stocks open higher to reverse yesterday’s losses July 9, 2021 US stocks opened up on Friday, helping to pare back sharp losses on Thursday. The blue-chip S&P 500 added 0.84 per cent in morning trading to reach 4,357. The tech-heavy Nasdaq gained 0.67 per cent, while the Dow Jones was up sharply by 1.11 per cent during the open. American benchmarks’ rebound was driven by [...]
UK economy grows 0.8 per cent in May July 9, 2021 The UK economy expanded in May, but at a much slower pace than in recent months as growth stalled in retail, manufacturing and construction, new figures released today show. GDP rose 0.8 per cent in May 2021, the fourth consecutive month of growth, according to the ONS. The expansion was driven by a resurgence in [...]
Euro 2020: What an England win could mean for the UK economy July 9, 2021 “England don’t do that – they don’t win those types of games” so said a friend after the three lions beat Denmark 2-1 after extra time in their Euro 2020 semi-final on Wednesday. They do – just once every 55 years. Scenes of jubilation across London after Gareth Southgate’s men reached their first final since [...]
Post-Brexit rebound: UK exports to EU climb rapidly July 9, 2021 UK exports to the EU have climbed sharply, defying fears that Brexit would dampen trade between the two blocs, figures published today reveal. Exports of UK goods to the EU jumped eight per cent in May, an increase of £1bn over the last month, according to the ONS. Total exports of UK goods to all [...]
US to blacklist more Chinese companies over human rights abuses July 9, 2021 The US government is set to increase the number of Chinese companies on its economic blacklist over alleged human rights abuses and surveillance. The Biden administration could add more than 10 Chinese companies to the list over accusations of forced labour and surveillance in Xinjiang, sources told Reuters. The additions follow an announcement last month [...]
Hiring in the City roars back to life July 9, 2021 The City is roaring back to life driven by financial services firms ramping up hiring activity as the spectre of Covid on the Square Mile recedes, new figures published today reveal. The number of jobs available in London’s financial services sector rose more than twofold over the last year, according to Morgan McKinley’s spring employment [...]