UK services economy surges after end of Plan B curbs despite inflation reaching record high March 3, 2022 Brits rushed back to pubs, bars and restaurants after the end of Plan B measures, boosting the UK’s services economy, but firms are raising prices at a record rate, reveals a closely watched survey released today. Activity among British services firms climbed to an eight month high, hitting 60.5 in February, according to IHS Markit’s [...]
Cryptocurrency scams balloon as City watchdog warns of looming crackdown March 3, 2022 Cryptocurrency scams are on the rise in the UK as fraudsters exploit new technologies to dupe consumers into handing over their money, fresh figures reveal. The Financial Conduct Authority (FCA) warned today of a worsening epidemic of criminals exploiting consumers’ amid an explosion of interest in the crypto space last year. The number of consumers [...]
City Moves: Who’s switching jobs in the Square Mile this week? March 3, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Knight Frank Property consultancy Knight Frank has appointed a new head to lead sales in St John’s Wood. Also joining as partner, Neir Gigi brings over 23 years’ experience from across central and northwest London property markets. Gigi, who joins the [...]
Cost of living crunch to intensify as firms prepare to launch price hikes March 3, 2022 Speculation inflation in the UK could breach eight per cent in April is looking even more certain as businesses prepare to hike prices to combat swelling costs, reveals a fresh survey released today. Economists’ bets on the Bank of England’s forecasts for inflation to peak at 7.25 per cent this April being undercooked are looking [...]
UK inflation to hit generational high of 9.5 per cent as Russia-Ukraine war sends energy prices soaring March 2, 2022 The spillover impact of Russia ramping up its assault on Ukraine on energy prices will send the cost of living in the UK to a level not seen in a generation, reveal fresh forecasts by top City analysts. Fears over Moscow squeezing oil and gas flows in retaliation to Western sanctions has pushed energy prices [...]
Minister throws support behind new £95m fund targetting UK software March 2, 2022 Venture capital firm Sure Valley Ventures has won the support of ministers today with a new £95m fund backed by state-owned British Business Bank, as it looks to target high growth software firms across the UK.
Gold – the only “safe haven” asset? March 2, 2022 The Russian invasion of Ukraine has had many consequences – first and foremost is its devastating humanitarian impact. While we cannot lose sight of how many millions of people are affected, as investors we are conscious that this is a time of great uncertainty. Schroders’ live blog on the Ukraine crisis will be updated regularly [...]
Subsidies to Wales have made devolution a begging bowl rather than a point of pride March 2, 2022 Did you raise a toast yesterday to the staff of Gwynedd Council in North Wales? They were enjoying their very own special Bank Holiday to celebrate the day of the patron saint of Wales, St David. Gwynedd council proudly declared in January that it would “grant” this extra holiday. All very well and good, except that [...]
Shop price inflation hits highest rate in more than a decade March 2, 2022 Shop price annual inflation surged to the highest rate since November 2011 last month, as households’ concerns about the cost of living increases. The rate hit 1.8 per cent in February, an increase from 1.5 per cent in January, according to the British Retail Consortium (BRC) and NielsenIQ. Non-food inflation surged to 1.3 per cent [...]
Average UK property almost £30,000 more expensive than a year ago as house prices accelerate March 2, 2022 The average UK house price has topped £260,000 for first time, after surging by nearly £30,000 over the past 12 months. The typical property value reached £260,230 in February, Nationwide Building Society said. In cash terms, the average house price in February was £29,162 higher than a year earlier, the biggest annual cash increase the [...]