How’s vaccine inequality driving up global inflation? October 27, 2021 As the more highly vaccinated countries roll out Covid booster shots, other parts of the world are still struggling to get their first jab. The vaccine divide is more apparent in the emerging markets (EM). World organisations have voiced their concerns over “vaccine nationalism” whereby vaccine-exporting countries prioritise supply first for their own populations before [...]
Q&A: why are so many investors still ignoring the UK stock market? October 27, 2021 Q: Are UK shares cheap because they’re “old economy” businesses in the banking, oil and tobacco sectors? Bill Casey: When we speak to management teams of UK-listed businesses, many are pulling their hair out, complaining their shares are lowly “rated” compared to US and European-listed peers. They run good quality businesses which we don’t think have [...]
Bitcoin drops below $60k as markets cool off October 27, 2021 The price of bitcoin yesterday closed below $60,000 for the first time in almost two weeks, with two minor flash crashes on Wednesday morning seeing the largest cryptocurrency fall to as low as $58k before recovering to around the $59k level, where it’s currently changing hands. That’s down 2.5% since yesterday morning and 8.5% over [...]
All public sector workers to get pay rise after partial 2021 wage freeze October 25, 2021 Millions of public sector workers are set to get a pay rise in this week’s Budget as the UK faces increasing inflation growth. The Treasury tonight said the size of the wage increase will be determined next year after it has been given recommendations from pay review bodies. Rishi Sunak froze pay for all public [...]
This week’s Budget: An overview of the £30bn of investments announced so far October 25, 2021 More than £30bn of investment has already been revealed by the Treasury ahead of Wednesday’s Budget. Chancellor Rishi Sunak said on Sunday that “(over) the last year, I’ve been focused on delivering our plan for jobs, protecting people’s livelihoods, their incomes, their jobs”. But he said he would now be “looking to the future and [...]
Minimum wage set to rise to £9.50 per hour October 25, 2021 The National Living Wage will increase from £8.91 per hour to £9.50 in the Budget this week. The 59p an hour boost means a full-time worker on the National Living Wage will see a pay rise of more than £1,000 a year. This is a 6.6 per cent increase in the minimum wage, which is [...]
Bitcoin price holds over $60k as S&P 500 climbs October 25, 2021 Bitcoin continues to hover at just below its all-time high after last week’s brief foray into the uncharted territory of $67k.
First deal for new UK Infrastructure Bank as it pumps £107m into green energy hub October 25, 2021 The brand new UK Infrastructure Bank said this morning it plans to invest £107m in the South Bank Quay development at Teesworks, a green energy hub in Teesside, North-East England, creating around 800 jobs. The deal marks the first investment for the bank, which launched in June of this year to finance innovative infrastructure projects, [...]
Nigeria launches eNaira amid worldwide interest in digital currency October 24, 2021 Nigeria has become the latest country to launch a digital currency backed by its central bank with the aim of improving its payments system. From tomorrow residents of Africa’s largest country by population will be able to make payments using the eNaira, a digital compliment to the country’s physical currency. The e-money will be backed [...]
Rishi Sunak admits UK has ‘no magic wand’ to stop rising inflation October 24, 2021 Rishi Sunak has said he has no “magic wand” to stop increasing inflation as he admits that the issue could be out of the UK’s control. Sunak today said increasing rates of UK inflation were down to global supply chain issues post-Covid and surging global energy prices and that there was little he could do [...]