Arm shies away from China over US and UK export controls on advanced chips December 14, 2022 British chip firm Arm has been taken off the roster for China’s semiconductor supply chain after the UK and US adopting stringent export controls on advanced chips to the country. It has reportedly left Chinese consumer technology giant Alibaba unable to get its hands on some of the most advanced chips in the sector, according [...]
Price of Bitcoin looks to be heading back towards $18,000 December 14, 2022 Bitcoin is trading around $17,820 this morning, after yesterday coming within a hair’s breadth of $18,000 with a new monthly high of $17,926.
The Christmas Quiz: Twelve questions to test your grey matter December 14, 2022 Roll up, roll up, for the City A.M. quiz in association with Deloitte's economics team. Twelve questions, all (just about) related to business and economics
House prices shoot up 12.6 per cent but London has lowest growth across UK December 14, 2022 The price of a property in the UK has shot up by 12.6 per cent over the last year with the average now sitting at just below £300,000. The latest House Price Index figures from the Office for National Statistics show the monthly increase was minimal however, at just 0.3 per cent. London however had [...]
Explainer-in-brief: Snowballing homelessness in London December 14, 2022 For some, the snow has brought a layer of white beauty to our capital. For others, it is a menace. When temperatures fall below zero degrees, something called the Severe Weather Emergency Protocol is activated to support people sleeping rough. Mayor Sadiq Khan activated it last week, and councils and charities have been scrambling to [...]
‘At last!’: City cheers signs of UK inflation passing its peak December 14, 2022 The City has cheered fresh figures out today that revealed this year’s historic inflation surge may have finally turned a corner. Prices accelerated 10.7 per cent over the year to November, down from a 41-year high rate of 11.1 per cent in the previous month, according to the Office for National Statistics (ONS). The fall [...]
Fewer hospital beds and rising staff sickness dragging down NHS, says IFS December 14, 2022 The NHS is less productive now than it was before the pandemic despite an increase in spending each year since 2019. In October 2022, the NHS carried out 14 per cent fewer emergency admissions, 14 per cent fewer outpatient appointments and 11 per cent fewer elective and maternity admissions than in the same month in 2019, [...]
Tui Group’s revenues take off as holidaymakers return to the skies December 14, 2022 Tourism specialist Tui Group (Tui) has begun to show signs of recovery from the pandemic, recording a four-fold increase in revenues.
Watches of Switzerland backs full-year guidance as luxury demand still buoyant December 14, 2022 Watches of Switzerland has said it is sticking to its full-year guidance for 2023 as there continues to be strong demand for luxury watches. In half-year results, the London-listed retailer said revenue from luxury watches made up 87 per cent of group revenue, with sales growth of 31 per cent versus the previous year. Group [...]
Profit surge for Zara owner Inditex despite shoppers’ fears of inflation December 14, 2022 Zara owner Inditex has seen sales and profit boosted, against a backdrop of a torrid consumer environment for fashion firms. The Spanish fashion giant posted a 24 per cent jump in net profit in the first nine months of its financial year, despite what CEO Óscar García Maceiras described as a “challenging context.” Sales online [...]
