Stocks on Wall Street rise despite hint Fed’s rate hikes may NOT be over May 19, 2023 Stocks rose again on Thursday after more companies reported better profits than expected, while yields climbed after a Federal Reserve official cautioned the end to its interest-rate hikes may not arrive as soon as Wall Street hoped. The S&P 500 gained 0.9 per cent , adding to its rally from the day before as hopes [...]
Consumer confidence continues to recover as double-digit inflation fails to deter Brits from splashing cash May 19, 2023 Consumer confidence in the year ahead is continuing to recover despite persistent cost-of-living pressures, a long-running survey suggests. GfK’s Consumer Confidence Index rose by three points in May to minus 27, the fourth monthly increase in a row from January’s minus 45. Confidence in personal finances over the coming 12 months saw a “robust” five-point [...]
Nationwide hands out £340m to customers as it reports 40 per cent profit boost from higher interest rates May 19, 2023 Nationwide’s profit jumped in 2023 as the building society became the latest firm to benefit from higher interest rates. The building society’s pretax profit climbed nearly 40 per cent to £2.2bn from £1.6bn last year despite a slight increase in costs. Nationwide’s net interest margin, the difference between what it pays out and receives in [...]
Rich list: Richard Branson and Rishi Sunak see fortunes shrink – but who are the wealthiest Brits now? May 19, 2023 The billionaire Hinduja family have topped the Sunday Times Rich List for the second year in a row as their fortune jumped by more than £6 billion. Gopi Hinduja and his family, which is behind the Indian conglomerate Hinduja Group, were named as Britain’s richest just days after Mr Hinduja’s brother Sri died. For the [...]
Morning in the City: Live news and updates on Nationwide, Lloyds Bank and the rich list May 19, 2023 Good morning and welcome to the City A.M. Live blog on Friday 19 May. We bring you update from Nationwide Building Society, Lloyds Bank’s new report saying Britain is powering away from a dreaded recession, and GFK consumer figures.
Britain firmly on path away from recession as hiring and growth ramp up May 19, 2023 Britain seems almost certain to dodge a recession this year as two new surveys out today reveal businesses are hiring at the strongest pace in half a year and families are upbeat about their finances. Numbers from Lloyds Bank show nearly every sector of the UK economy stepped up headcount last month. Hiring was led [...]
Sunak’s semiconductor plans will leave UK ‘very vulnerable’, warn tech bosses May 19, 2023 Tech bosses have hit out at the government’s landmark £1bn semiconductor strategy, blasting it as “a drop in the ocean” which leaves the UK “very vulnerable”. Founders warned the government’s proposals for investment over the next decade to boost the UK’s domestic silicon chip and compound semiconductor production were “disappointing”, with the announced £1bn funding [...]
Without new water infrastructure, the UK risks running dry May 19, 2023 If we want to be a water-resilient country, we need new infrastructure. But a complex planning system means building it is proving harder than it should be, writes Daniel Freiman
Have the culture war Conservatives killed off Cameron-style Tories? May 19, 2023 Is the nasty party back?
Blocking the Microsoft and Activision deal leaves gamers – and the UK – out in the cold May 19, 2023 On Monday, EU regulators approved Microsoft’s $68.7 billion acquisition of Activision Blizzard, leaving the UK and US alone in their choice to stall the deal.
