High-cost lenders pose ‘increased’ risk as cost of living rises, FCA warns October 6, 2022 High cost lenders need to tighten their lending criteria as cash-strapped Brits turn to debt to cope with the rising cost of living, the financial watchdog has warned.
Mini budget market turmoil partly triggered BoE emergency intervention, dep governor says October 6, 2022 Market volatility that followed chancellor Kwasi Kwarteng’s mini budget last month partly forced the Bank of England to step in to stabilise UK debt prices and prevent a crisis in the pensions sector, one of its top officials said today. After Kwarteng slashed taxes by £45bn and signalled a borrowing surge on Friday 23 September, [...]
Amazon to pay staff £500 cost of living payment as union urges tech giant to do more October 6, 2022 Amazon will make a one-off payment of up to £500 for its hourly paid employees to help them with the cost of living crunch while it attempts to fend off union criticism on pay. Employees will receive two instalments of £250, one this month and one later in December. It comes as Amazon has received [...]
Big pay for Big Tech: Facebook UK staff bank £134k a year on average October 6, 2022 Despite reports that tech firms are facing job cuts and a slowdown of hiring, new filings reveal that the average salary for a Facebook employee in the UK hit £134,000 last year. Facebook’s headcount climbed 37 per cent to 5,148 in the UK, with the wage bill up to £693m in 2021. This made the [...]
Viasat and Inmarsat $7.3bn merger could choke competition in wifi market, says CMA October 6, 2022 Viasat and Inmarsat’s $7.3bn (£6.4bn) merger faces further scrutiny from the UK’s competition watchdog over concerns it will choke competition in the aviation sector’s on-board wifi market. The Competition and Markets Authority said today that with both companies having a strong presence in the aviation market, the deal would remove a significant element of competition [...]
Diageo toasts ‘good start’ to year as drinkers’ thirst resilient despite economic slump October 6, 2022 Guinness owner Diageo has raised a glass to resilient demand for drinks despite a consumer spending slowdown. In a brief trading update on Thursday morning, the London-listed beverage giant said it had made a “good start” to its 2023 fiscal year. Chief executive Ivan Menezes noted “organic net sales growth across all regions” as the [...]
Bitcoin now more correlated to stocks and still has value in traditional portfolios October 6, 2022 Bitcoin remains a valuable addition to a traditional asset portfolio, according to research by a leading investment manager.
Cryptocurrency prices hold their nerve as all eyes turn on the Fed’s next move October 6, 2022 The price of Bitcoin has grown roughly 4.5% in the last week, while Ethereum has followed in its tracks with upward movement of 3%.
Construction firms clear backlogs before downturn hits October 6, 2022 Construction firms are clearing a huge backlog of work, but the sector is on course to shrivel in the coming months as it is whacked by soaring interest rates, a closely watched survey published today. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) for the construction industry swung [...]
Bishopsgate stabbing: Four injured in major incident, two suspects being sought October 6, 2022 Police are seeking two suspects after three people were stabbed stabbing in Bishopsgate this morning. Emergency services rushed to the scene of an incident in the heart of the Square Mile just before 10am. It was reported that three individuals were stabbed and one person was pushed to the floor, as they confronted someone attempting [...]
