Midweek markets: US dollar disappoints on the back of a slide in yields November 9, 2022 With most of the market attention on the US mid-terms action can only be characterised as bitty. There was no real catalyst for any of the moves we saw yesterday, with some of the moves technical in nature. It was another positive day for markets in Europe yesterday, with the DAX closing above its 200-day [...]
Sunak handouts: 8m Brits start receiving £324 into their bank accounts from today November 9, 2022 Close to 8m low income Brits will start to receive payments of £324 into their bank accounts from today as part of the Government’s cost-of-living support. The Department for Work and Pensions (DWP) will start making the payments directly into eligible people’s bank accounts from Tuesday. There is no need for people to apply or [...]
Mass layoffs at Meta: Is Facebook’s ‘absolute monarch’ Mark Zuckerberg finally listening? November 8, 2022 Facebook-owner Meta did not do well with investors during and after the latest earnings releases. Large institutional investors concluded that founder Mark Zuckerberg is not listening to investor concerns over capital expenditure plans for next year and ballooning operating expenses. But the Wall Street Journal is writing that Meta is now planning a large layoff [...]
All eyes on Biden vs Trump today: US midterms to usher in two years of gridlock November 8, 2022 The sharp decline in the US dollar markets saw on Friday continued yesterday as the greenback lost ground across the board, with the pound benefiting the most, pushing above the 1.1500 area, as markets looked ahead to this week’s Q3 GDP number, and next week’s autumn budget. The weakness in the US dollar came despite [...]
‘Slit your throat’: Things looking increasingly ugly for Gavin Williamson as shock allegations pile up November 8, 2022 Pressure is mounting on both Prime Minister Rishi Sunak as well as former Education Secretary Gavin as new allegations about the behaviour of the latter have come to light. Williamson allegedly told a senior civil servant to “slit your throat” in what they claimed was a bullying campaign while he was defence secretary. As a [...]
Rishi Sunak torpedoes Boris Johnson’s Britannia ship as £250m plans sink to the bottom of the Brexit pond November 7, 2022 As part of government efforts to cut spending, a £250m plan to build a successor to the Royal Yacht Britannia has been scrapped, the Ministry of Defence confirmed this afternoon. The national flagship plan was sunk by Rishi Sunak’s administration as Whitehall braced for cuts in the November 17 autumn statement by Chancellor Jeremy Hunt. [...]
Inside House of Campari: Brexit vote of confidence in London as Italian spirits giant moves to Soho November 7, 2022 Campari Group, the producer of spirits brands in the UK such as Aperol, Wray & Nephew, Appleton Estate Jamaica Rum as well as Campari, has opened a new regional headquarters in the heart of the capital. Named “The House of Campari”, the new London base is situated in Great Portland Street, just off Oxford Street. [...]
Struggling retailer Joules begs investors for fresh cash as merciless restructure looms November 7, 2022 Struggling retailer Joules has revealed talks with investors including founder Tom Joule to inject cash into the business alongside a possible company voluntary arrangement (CVA) restructuring as sales continue to disappoint. The group said Mr Joule – who has recently returned to the firm as product director – is among a number of “strategic investors” [...]
Nervous markets scratch their heads over lockdown pain due to confusing China Covid policy November 7, 2022 Despite a big relief rally at the back end of last week, US markets still couldn’t reverse the losses of the previous three days, closing lower for the first time in three weeks, although for European markets it was a somewhat different story. The DAX finished higher for the fifth week in succession, posting its [...]
Millions of Brits to face major train disruption today despite rail strike called off November 7, 2022 Passengers are urged to check with train operators before they travel with some still expected to run a reduced timetable due to the train strike change coming at such short notice. Rail services will continue to be disrupted today, despite a series of planned strikes being called off. Members of the Rail, Maritime and Transport [...]
