UK recession risk just got a whole lot lower after inflation undershoot July 25, 2023 From the Bank of England to recession warnings, Jack Barnett gets under the skin of Britain’s economy in his weekly column Bank of England Governor Andrew Bailey would not have been the only person in the City last week breathing a sigh of relief after the better than expected inflation numbers. It was the first [...]
Elon Musk bids adieu to the Twitter bird as social media giant rebrands to ‘X’ July 24, 2023 Twitter owner Elon Musk revealed the social media giant will bid farewell to its famous blue bird, as a new “X” logo was unveiled this week, in a bid to transform it into an “everything app”. The billionaire Tesla boss announced the revamp, tweeting his desire to “bid adieu” to the Twitter brand and, gradually, [...]
Andy Silvester on market optimism, US wages and a real-life summer thriller July 20, 2023 Bulls are not regularly seen on the streets of the Square Mile, especially recently. It has been all too easy on my recent travels to find people casting their eyes downward when asked about the City’s prospects, as if the irritatingly grey July skies are dimming optimism before the summer holidays. What’s interesting is that [...]
Confirmed: Jaguar owner Tata to build £4bn battery factory in the UK July 19, 2023 Jaguar Land Rover’s owner has confirmed it will invest £4 billion to build a gigafactory in the UK, in a major boost for the British automotive sector and following months of speculation. Tata Group – the Indian conglomerate who have owned JLR since 2008 – said that its investment in the new 40GWh battery plant [...]
The West is now awake to the critical minerals race, says Rio Tinto boss July 18, 2023 Governments across the West have woken up to the urgency needed to secure essential metals and minerals, Rio Tinto's chief executive has said.
Oil prices slide as weak economy data in China fuels demand concerns July 17, 2023 Oil prices have dipped after sluggish growth figures from China renewed concerns about demand in the second half of the year.
Wall Street falls after hot jobs data raises threat of high rates July 7, 2023 Stocks fell on Thursday after reports suggested the US jobs market remains much more resilient than expected. The S&P 500 lost 35.23, or 0.8 per cent , to 4,411.59. The Dow Jones Industrial Average dropped 366.38, or 1.1 per cent , to 33,922.26, and the Nasdaq composite gave up 112.61, or 0.8 per cent , [...]
FTSE 100 tumbles to year low and gives up 2023 gains after hitting record high just months ago July 6, 2023 London’s FTSE 100 tumbled to its lowest closing level this year today as the index was captured by a global stock market sell off ignited by traders fretting over further interest rate rises. The capital’s premier index cratered 2.24 per cent, its biggest one day fall since March, to close at 7,275.60 points, while the [...]
FTSE 100 close: Wilting Chinese recovery keeps London mining giants lower July 5, 2023 London’s FTSE 100 sagged today, dragged lower by industrial firms tumbling in response to signs that China’s economic recovery is running out of steam. The capital’s premier index shed 1.03 per cent to close at 7,442.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Crisis-hit LME hires ex-London Stock Exchange chief to manage clearing house July 5, 2023 LME Clear has turned to a former London Stock Exchange chief executive as it scrambles to restore investor confidence.