Supply chain breakdowns continue to drag on UK manufacturing November 1, 2021 Supply chain breakdowns continue to drag the UK manufacturing industry down, but greenshoots of stronger growth are emerging. Delays in deliveries for crucial materials, compounded by worker and skills shortages drove slower output growth among British manufacturing firms, a closely watched survey has found. IHS Markit’s latest purchasing managers’ index for the UK manufacturing industry [...]
David Haggerty interview: ITF president on revamping Billie Jean King Cup and Davis Cup Finals, anti-vaxxers, Osaka, domestic abuse and Raducanu November 1, 2021 Eighteen months later and in a different location than planned, the first Billie Jean King Cup Finals finally begins today. The tournament formerly known as the Fed Cup has been rebranded in tribute to the trailblazing former world No1 and reformatted to create a climactic week-long finale that mirrors the new-look Davis Cup, itself taking [...]
COP26: Prince Charles warns governments alone cannot prevent climate crisis October 31, 2021 Prince Charles has warned governments need the support of the private sector to prevent the climate crisis. Writing in the Sunday Telegraph, His Royal Highness said “we need trillions of dollars of investment every year” to limit global warming to 1.5C. “Governments alone cannot muster those sorts of sums. But the private sector can, working [...]
Ex-Bank of England governor warns transition to net-zero will not happen ‘overnight’ October 31, 2021 A former governor of the Bank of England has warned gearing the UK toward a greener economy will not happen overnight. Speaking to the Mail on Sunday, Mark Carney, who headed the Old Lady between 2013 – 2020 said “It would be great if we could flip a green switch overnight… we can’t.” Carney, now [...]
City brings forward bets on Bank of England rate hike to this week October 31, 2021 The Bank of England will hike interest rates this week to hose down runaway inflation, according to several grandee City investment banks. JPMorgan, Deutsche Bank, Morgan Stanley and Santander have all brought their bets on when the Old Lady will increase borrowing costs to this Thursday’s rate setting meeting. The strengthening bets have been driven [...]
Prosecutions of company directors jump by 205 per cent as crackdown on Covid fraud begins October 29, 2021 The number of company directors convicted of criminal activity during the pandemic has risen 205 per cent to 122 in the year to 30 September, up from just 40 for the same period to 30 September of last year. This trend is set to continue as the Insolvency Service takes an increasingly tough stance on [...]
Brits splurge on credit cards at fastest pace in over a year October 29, 2021 Brits picked up their credit cards once again and splashed the cash last month as the summer drew to a close. Consumers spent an additional £600m on credit cards in September, the highest amount since July last year, according to the Bank of England. More to follow.
Millions face swelling mortgage bill as lenders brace for rate hike October 29, 2021 Households across the UK face swelling mortgage costs on top of higher tax bills and an increasing cost of living. Several of Britain’s big players in the mortgage market lifted interest rates on their products immediately after the budget this week in anticipation of a looming rate hike from the Bank of England. HSBC, Barclays [...]
Bank of England mulls regulatory shake up to manage climate risks October 28, 2021 The Bank of England has taken a step closer to imposing stricter rules on banks to ensure they step up their preparedness for climate change. The Old Lady’s Prudential Regulation Authority (PRA) said today it is mulling a shake up of capital buffer structures to manage the potential risks of global warming. It will publish [...]
Budget: Brits face flat recovery for household living standards, Sunak warned October 28, 2021 The average household could see their tax rise by thousands of pounds during Boris Johnson’s premiership, a think tank has warned, as Rishi Sunak’s Budget has the country set for a flat recovery for living standards. The Office for Budget Responsibility (OBR) said the Budget would leave the overall tax burden at its highest since [...]