UK businesses jack up prices at record pace amid supply chain epidemic October 5, 2021 Businesses are jacking up prices at the fastest rate on record to cancel out soaring costs caused by endemic supply chain breakdowns. A closely watched index measuring UK services businesses’ activity hit 55.4 in September, up slightly from August’s six-month low 55. A reading above 50 indicates a majority of firms reported growth. Soaring oil [...]
Soaring oil prices fuel London markets October 5, 2021 Soaring oil prices fuelled industrial megacaps this morning, pulling London markets away from yesterday’s losses. The capital’s premier index added 0.60 per cent to reach 7,052.75 points during the first couple hours of trading today. The likes of Shell and BP were boosted this morning by oil prices reaching a seven-year high, climbing above $80 [...]
Debenhams launches marketplace powered by the firm behind Boohoo’s site – CityAM : CityAM October 5, 2021 Debenhams has launched a new online marketplace, powered by the same firm behind Boohoo’s website. It comes after Debenhams, once a historic high street staple in the UK, ended up another casualty of the pandemic that drove shoppers to the digital sphere. Also Read: Boohoo to bolster Debenhams stores and e-commerce sites in the Middle [...]
Just 127 drivers have applied for emergency UK visas, says Johnson October 5, 2021 Prime Minister Boris Johnson has announced that just 127 truck drivers have so far applied for UK visas to help ease acute shortages. In an interview with the BBC Johnson said that the road transport industry had been asked to provide the details of drivers who were willing to come to Britain amid shortages. So [...]
Sinic Holdings becomes latest firm to get caught up in Evergrande’s downward spiral – CityAM : CityAM October 5, 2021 Sinic Holdings has become the latest firm to be caught up in the downward spiral set off by Evergrande, the Chinese behemoth considered too big to fail by market analysts. Fitch ratings downgraded Sinic today after it defaulted on its debt interest payment. The firm is uncertain to honour a $246m bond repayment due later [...]
Helena Morrissey criticises HSBC and City of London as she calls for dump of China stock October 5, 2021 City insider Baroness Helena Morrissey has called on investors to ditch their stakes in Chinese companies due to the accusations of human rights abuses in the country. Morrissey, a chair for AJ Bell, also criticised HSBC and the City of London Corporation for their stance on China, as the bank alongside Standard Chartered, had last [...]
Facebook shaken after its longest downtime in years with billions of users impacted October 5, 2021 Social media platform Facebook has come back up after suffering a six hours long outage crippling its nearly 3bn users globally. The technical glitch affected Whatsapp and Instagram too, both owned by Facebook. According to Downdetector, a portal that keeps track of major service outages, this was the longest lasting downtime reported by Facebook since [...]
JP Morgan snaps up Old Street property for £181m October 5, 2021 The Great Ropemaker Partnership has announced the sale of 160 Old Street, EC1, to a fund advised by JP Morgan Global Alternatives for £181.5m. The fund comes under the management of JP Morgan’s alternative investment arm which has $191bn in assets under management. The Old Street property was comprehensively refurbished while under the management of [...]
Bitcoin could still hit $100,000 by the end of 2021 – and here’s why… October 5, 2021 I’m confident that, if the current momentum in prices continues, we could see the Bitcoin price hit to-date unknown highs of $100,000, writes Nigel Green
City insider Helena Morrissey urges investors to dump China stocks – CityAM : CityAM October 5, 2021 City insider Baroness Helena Morrissey has called on investors to ditch their stakes in Chinese companies due to the accusations of human rights abuses in the country. Morrissey, a chair for AJ Bell, also criticised HSBC and the City of London Corporation for their stance on China, as the bank alongside Standard Chartered, had last [...]
