Bank of England leaves rates at record low despite expecting persistent inflation spike November 4, 2021 The Bank of England today decided to scupper a flurry of bets on interest rate hikes and leave them unchanged at a record low. Despite mounting speculation from financial markets, economists and experts, the Old Lady left interest rates at 0.1 per cent and will see through the final leg of its QE programme. The [...]
Pound drops against dollar as Bank of England keeps interest rate at record low November 4, 2021 Pound sterling has fallen by almost one per cent against the dollar to $1.36 after a shock decision by the Bank of England to hold rates at 0.1 per cent. It fell similarly against the Euro by 0.51 per cent to €1.172. The market movements follow the surprise decision by the BoE to leave interest [...]
Number of UK gas suppliers almost cut in half by energy price crisis November 4, 2021 UK energy suppliers have nearly halved in number this year, as soaring wholesale prices wreak havoc with the struggling sector. New research from Cornwall Insights has revealed that the market has sharply decreased from 47 suppliers at the start of 2021 to 24 currently left operating in the country. The number of departures from the [...]
Fire breaks out in Elephant and Castle tower block November 4, 2021 A fire is burning on the 18th floor of a tower block in Elephant and Castle.
Devolver Digital hits almost £805m valuation as shares surge on AIM debut November 4, 2021 US video game maker Devolver Digital made a shining debut on London’s junior AIM market this morning, as shares surged more than 15 per cent. After listing at a placing price of 157p per share this morning, pitching its market cap at almost £700m, Devolver’s shares surged to 181p per share at midday, pushing its [...]
Stephenson Harwood raises newly qualified lawyer salaries to £90,000 November 4, 2021 Stephenson Harwood have raised salaries for newly qualified solicitors by 20 per cent to £90,000, as City law firms fight to attract and retain legal talent in an increasingly competitive market. While newly qualified lawyers enjoy a jump up from £75,000, staff across different levels will receive bumpers, ranging from 8-17 per cent, to their [...]
Nintendo hit hard by global chip shortage and slowing game demand November 4, 2021 A global chip shortage and a slowing demand for games has caused a significant blow to Nintendo's profit, as the company struggles to sell to Switch gaming console.
What we learned from this year’s Booker Prize November 4, 2021 Bookies favourite Damon Galgut was awarded the Booker Prize last night for his novel The Promise. Set in his home city of Pretoria, it tells its story through four funerals. Here’s what we learned from the result. A nomination won’t make you rich overnight Prior to the announcement, the best selling book on the nomination [...]
Inflation to peak at five per cent, warns Bank of England November 4, 2021 The Bank of England will persistently miss its inflation target over the next two years, according to fresh forecasts published by the Old Lady today. Officials on Threadneedle Street expect the rate of price rises to peak at five per cent in April next year and stay above its two per cent target in two [...]
Estate agent Purplebricks shares topple after drop in supply November 4, 2021 Online estate agent Purplebricks’ shares plummeted following a trading update highlighting a drop in supply in the market. In an update on Thursday, the estate agent said for the six months ended October 31, the market had been “challenging.” Its share price dropped more than 35 per cent on Thursday morning. “New instructions have slowed [...]
