Energy crisis: Govt and energy firms agree runaway gas and electricity bills should be avoided in 2022 but they fail to say how December 28, 2021 The government and UK’s largest energy companies agreed late last night that “UK customers have to be protected” from soaring gas and electricity prices in 2022, although it was not clear how they plan to do that. The meeting with Business Secretary Kwasi Kwarteng came after Labour and a boss of a major energy provider [...]
Markets bet on Bank of England hiking spree in 2022 December 23, 2021 Traders are ramping up bets on the Bank of England going a hiking spree this coming year. The Bank will look through economic risks posed by the Omicron variant of coronavirus and lift rates above one per cent by the end of 2022, the first time that level has been breached since 2009 in the [...]
Londoners squeezed by relentless cost of living in the capital December 17, 2021 Londoners are being squeezed by the relentless high cost of living in the capital, reveals a new study published today. Polling by Ipsos MORI funded by London Councils found around one in five of all Londoners think the cost of living is the most pressing issue impacting them. Private renters and young people living in [...]
Bank of England defies expectations and hikes rates for first time in three years December 16, 2021 The Bank of England today defied the City’s expectations and hiked interest rates for the first time in three years. The Bank’s rate setting committee voted 8-1 in favour, including governor Andrew Bailey, of lifting rates 15 basis points from a record low 0.1 per cent to 0.25 per cent, making it the first major [...]
Outlook 2022: UK equities December 16, 2021 The UK holds many mispriced opportunities for stockpickers. Pick-up in M&A activity is striking. Stock market fit for the future. Sue Noffke, Head of UK Equities: UK shares remain cheap because of the perceived significant political and economic risks of Brexit, which continue to linger and depress the valuation of the UK stock market. We [...]
Some economists hold out hope for Bank of England rate hike December 15, 2021 The Bank of England would have hiked interest rates sharply to quash the over 10-year high inflation print if the UK was not in the teeth of the Covid-19 crisis, according to City economists. That’s the prediction from analysts at Bank of America, who today said: “In normal times, the BoE would likely already have [...]
Londoners have the second-lowest perception of their wealth in England December 15, 2021 Despite having the highest average total wealth in the country, London dwellers’ perceptions of their financial wellbeing are particularly poor, according to this year’s UK financial health index by wealth manager St James’s Place. Data from the index released today, ahead of The Bank of England’s announcement of its next move on interest rates later this [...]
Fracking companies threaten government with legal action over ban December 12, 2021 Fracking companies have threatened to take legal action over the government’s ban on the practice, amid the sector’s growing frustration at being left behind the UK energy revolution, according to reports. The sector sent “pre-action correspondence” to the government after fears prompted by earthquakes in 2019 led to a ban on drilling, according to the Telegraph, which [...]
GDP growth falls short of expectations, inching 0.1 per cent higher in October December 10, 2021 The UK’s economic growth inched just 0.1 per cent in October, according to the latest figures. The figure remains 0.5 per cent below its pre-pandemic level, the Officer for National Statistic found, falling short of economist and analyst expectations after experts had forecast a 0.4 per cent increase. Construction and hospitality were among the hardest [...]
Inflation to lift off to five per cent as cost living crisis bites Brits December 9, 2021 Inflation will hit heights not seen since the aftermath of the financial crisis, led higher by swelling household energy bills and rising prices for second-hand cars, according to City analysts. The cost of living will rise to five per cent in October, jumping from 4.2 per cent in the previous month, according to Capital Economics. [...]