All eyes in Brazil nervously shift to Bolsonaro as president keeps eerily quiet after Lula victory November 1, 2022 More than a day after Brazil’s President Jair Bolsonaro lost his bid for re-election of South America’s largest country, the right-wing leader has neither conceded defeat nor challenged the results of the country’s closest political contest in more than three decades. Bolsonaro had not spoken a word to reporters camped outside the official residence or [...]
UK should ‘future proof’ economy via cutting-edge green tech, says Kemi Badenoch November 1, 2022 International Trade Secretary Kemi Badenoch thinks the UK must “future-proof” its economy by investing in cutting-edge green technologies In a speech to the green trade and investment expo in Gateshead, Tyne and Wear, later today, Badenoch will say new technologies to combat climate change are creating high-paying skilled jobs while providing a route to future [...]
Libor rigging special: Calls grow to review all convictions of City traders as ‘UK’s position is absurd’ October 31, 2022 A major City scandal that most bankers in London had left behind years ago seems to be coming back with a vengeance. In a new twist in one of the Square Mile’s biggest-ever scandals, the Libor rate-fixing case, British former trader Tom Hayes has had the long-running case against him in the United States thrown out. As [...]
Stunning comeback: Lula da Silva seizes power in Brazil after ruthless election October 31, 2022 Luiz Inacio Lula da Silva will become Brazil’s next head of state, giving the leftist former president another shot at power in a rejection of incumbent Jair Bolsonaro’s far-right politics. Da Silva received 50.9 per cent of the vote and Mr Bolsonaro 49.1 per cent, according to the country’s election authority. Yet hours after the [...]
All eyes on the EU as ECB faces ‘nightmare scenario’ of record inflation and need to hike rates again October 31, 2022 Last week was the fourth successive week of gains for equity markets in Europe as well as the US, despite some high-profile earnings misses. It’s been particularly notable that while there were some notable earnings misses, especially in the tech sector, by and large the more traditional areas of the market have performed better. “While [...]
City in shock as £1.3 trillion is wiped off value of UK bonds in record sell-off October 31, 2022 More than £1.3 trillion has been wiped off the value of UK bonds since the start of 2022 following a major sell-off across bond markets, according to new figures. Just over £882bn has been wiped off the value of Gilts and Index-linked Gilts, which have fallen 26.4 per cent and 36.2 per cent respectively in [...]
First of its kind in UK retail: All 60,000 staff at Co-op to be given paid time off for fertility treatments October 31, 2022 In what is considered a unique new policy by a major UK retailer, all 60,000 employees at supermarket giant Co-op will be able to take paid time off for fertility treatments. Co-op’s chief executive, Shirine Khoury-Haq, said that she has gone through the process of fertility treatment herself and wants to create a supportive environment [...]
Weekend Read: Britain’s ‘secret’ property market generates staggering £30bn in just one year October 29, 2022 Britain’s secret property market saw almost £30.9bn worth of property transactions last year, the highest annual market value in well over a decade. New figures show that in 2021, 98,235 homes are estimated to have been sold off-market, a 51.4 per cent increase on the previous year and the third largest annual total of off-market [...]
Weekend read: Volatile month in UK gilt market turns the Old Lady into a hawk October 29, 2022 As October is coming to a close, it’s been a rollercoaster month for the UK’s financial market. Following the bungled mini-budget on 23 September that sent equities spiralling, the pound plummeted to an all-time low against the dollar and bond yields soaring higher. In the first few days following Kwasi Kwarteng’s announcement of the mini-budget, [...]
Outrage grows as UK urges LGBT football fans to ‘compromise’ their sexuality during World Cup in Qatar October 28, 2022 James Cleverly, this week re-appointed as Foreign Secretary, is increasingly under fire for comments he made about how British LGBT football fans should behave while in Qatar for the World Cup. A range of celebrities and thousands of people have taken to social media to express their dismay about Cleverly’s stance. The Foreign Secretary urged [...]
