Shares jump for housebuilders as stamp duty survives mini-budget u-turns October 17, 2022 Shares jumped for this afternoon after stamp duty cuts survived Jeremy Hunt’s mini-budget backtrack. Major players like Barratt Developments, Persimmon and Taylor Wimpey all saw their stock rally after the new chancellor’s emergency statement this morning. Barratt’s shares climbed nearly four per cent, whilst Persimmon and Taylor Wimpey were up nearly five per cent. Hunt [...]
UK borrowing costs tumble after Hunt shreds Truss’s mini budget October 17, 2022 UK borrowing costs scaled lower today after new chancellor Jeremy Hunt ripped up prime minister Liz Truss’s tax cutting mini budget. The yield on the 30-year UK gilt, which has suffered heavy selling since the mini budget last month, fell around 40 basis points to 4.33 per cent. Rates on the 2-year and 10-year UK [...]
Gas markets slide as EU closes in on watered down price cap October 17, 2022 Gas prices are heavily down across UK and European benchmarks have fallen as the West pushes for a price cap on Russian supplies.
Pubs and brewers disappointed by alcohol duty reversal ahead of ‘toughest winter in history’ October 17, 2022 Pubs will be “hit extremely hard” this winter after the government scrapped an upcoming alcohol duty freeze, industry chiefs said. The duty freeze was one of many policies consigned to a bonfire of tax cuts from newly-appointed Chancellor Jeremy Hunt on Monday. Announced just a few weeks ago by Hunt’s predecessor Kwasi Kwarteng, the move would [...]
New UK science minister unveils £15m cashpot for satellite comms innovation October 17, 2022 The UK’s new science minister has unveiled a £15m fund for businesses to bolster their satellite communications technology. Nusrat Ghani, who stepped into the position within Liz Truss’ cabinet at the beginning of the month, said the funding will help “to strengthen the UK’s position as a world leader in the satellite communications market” and [...]
BP snaps up US biogas firm for £2.9bn to boost bioenergy business October 17, 2022 BP has boosted its presence in bioenergy, snapping up American biogas company Archaea Energy in a £2.9bn deal.
Lord Mayor’s show next month to combine 13th Century traditions with modern diversity of City October 17, 2022 Traditions dating back to the 13th century and a giant inflatable pig will feature in the historic 694th Lord Mayor’s Show next month. Up to 250,000 people are expected to cheer on a ceremony steeped in history on 12 November, as Nicholas Lyons marks the start of his time in office. The ceremony will bring [...]
Talk of studio sale sends ITV shares soaring October 17, 2022 With shares down over 40 per cent this year, ITV was lifted this afternoon following rumours that it was mulling a sale of its studio arm. According to initial reports from the Financial Times, the maker of both Coronation Street and Love Island is said to be actively reviewing whether to dump its stake in [...]
Ethereum nears deflationary status, but crypto adoption grows as Bitcoin’s mining difficulty hits ATH October 17, 2022 CryptoCompare's Francisco Memoria takes a look at the last seven days in the crypto markets to see what narratives have driven price action.
Gold prices propped up by bullish demand in Asia despite hawkish Fed October 17, 2022 Gold prices are trapped in a narrow pricing corridor, with robust demand in Asia preventing a tumble in prices.
