Upskilling workforce can save City firms millions January 27, 2022 Piling money into upskilling existing employees can save banks, brokers and fund managers millions of pounds, reveals a fresh study published today. Investing in improving staff’s skills can generate cost savings of up to £49,100 per employee compared to hiring new talent, according to a report by the Financial Services Skills Commission (FSSC) and consultancy [...]
US Federal Reserve tells markets to buckle up for end of stimulus January 26, 2022 The US Federal Reserve yesterday told investors to strap in for a rapid unwinding of the wave of cheap cash that has flooded global financial markets. The most influential central bank sent the strongest signal yet that the era of ultra-loose monetary policy is coming to end. The Fed’s committee of rate setters said they [...]
Omicron pushing US Fed into action January 26, 2022 Stagflationary risks are rising as Covid variant extends disruption and central bank steps up to bring inflation under control. US inflation hit its highest level since 1982 at the end of 2021, with the consumer price index (CPI) reaching 7% year-on-year. The figures were widely anticipated, but only add to pressure on the US Federal [...]
Today’s Fed meeting: ‘Officials are behind the curve when it comes to dealing with inflation risk’ January 26, 2022 Markets’ main focus is set to be on today’s Fed meeting, and the messaging that is expected to layout the rate path for the rest of the year, starting with a widely expected 0.25 per cent March rate hike. “Last month’s Fed meeting saw the central bank accelerate its tapering program to $30bn a month, [...]
Wizz Air pursues expansion as losses deepen January 26, 2022 Wizz Air doubled losses in the third quarter as it expanded its workforce and fleet amid travel disruption spurred by Omicron.
Market sentiment driven by events on Russia vs NATO over Ukraine and today’s Fed meeting January 26, 2022 European markets had a slightly more resilient tone yesterday, reversing some of their early week losses, however we still remain below the closing levels of last week, so it might be a little early to sound the all clear so to speak. US markets also saw another rollercoaster session, opening sharply lower, as they looked [...]
Inflation and supply chain crisis to throttle UK economy, IMF warns January 25, 2022 The global supply crunch and roaring inflation will choke UK growth this year, the world’s economic watchdog warned today. A combination of the supply chain crisis rumbling on and the cost of living corroding Brits’ incomes has prompted the International Monetary Fund (IMF) to downgrade their forecasts for UK economic growth this year to 4.7 [...]
British factories prepare to launch quickest price hike cycle since 1977 January 25, 2022 British factories are preparing to launch a rapid cycle of price rises to offset a cost onslaught, reveals a closely watched survey released today. The fresh print adds to agitation at the Bank of England over inflation becoming entrenched in the UK economy as a result of businesses baking in soaring costs to their pricing [...]
Sea of red: Looming US Fed rate hike spree sends chill through global markets January 24, 2022 A sea of red engulfed global markets today as a looming rate hike spree from the US Federal Reserve sent investors fleeing stock markets. Traders dumped shares on fears the Fed will send the strongest signal yet on its intention to rapidly rein in ultra-stimulative monetary policy at its meeting of rate setters on Wednesday. [...]
UK services economy stands strong amid Omicron Plan B assault January 24, 2022 Britain’s services economy has stood strong in the face of the re-emergence of curbs on daily life in a bid to clamp down on the Omicron variant, reveals a closely watched survey released today. IHS Markit’s latest flash purchasing managers’ index (PMI) for the UK services industry came in at 53.3 for January, a marginal [...]