This is a global, not a UK specific, economic slowdown October 24, 2022 Much attention has been devoted to the comings and goings at Number 10 Downing Street and the ailing economy in recent weeks, but the UK is not alone in wilting under the weight of soaring prices and interest rates. The eurozone economy, made up of the 19 countries that use the euro, is on course [...]
Boris Johnson can win elections, but he never knew what to do once he did October 24, 2022 It also reduces politics to its bones as a mere transaction, with retaining office the only objective.
To win over the bond market, it has to be Dishy Rishi October 23, 2022 Tim Martin is the CEO of JD Wetherspoon In selecting the next Prime Minister, MPs need to bear in mind that the terrible twins, the bond market and inflation, feeling increasingly disrespected by central bankers and politicians , are angry and emotional – and are watching their every move. The mere revelation on Friday that [...]
Advertising cuts continue to sting Snapchat October 21, 2022 Snapchat’s growth continued to plateau this quarter as the advertising slump continues for the social media company. Falling well below most Wall Street estimates, Snap’s said revenue climbed a humble six per cent to $1,13bn, while net losses widened from $72m to $360m. Adjusted earnings before interest, taxes, depreciation, and amortisation was $73m, compared to [...]
Blues cruise: How Potter’s serene start could prove pivotal for Chelsea October 21, 2022 It has been six weeks since two 47-year-olds took on the biggest jobs of their careers and it’s fair to say that it has gone better for Graham Potter than Liz Truss. While Truss was forced out of Downing Street after 44 catastrophic days as Prime Minster, new Chelsea manager Potter has enjoyed a serene [...]
Retail sales volume fall to 1.3 per cent lower than pre-covid levels as cost of living bites October 21, 2022 Retail sales volumes have plummeted to 1.3 per cent lower than pre-coronavirus levels as rising prices and the cost of living continues to bite. Latest figures from the Office for National Statistics show sales volume on the high street were down by 1.4 per cent in September, though data was impacted by a bank holiday [...]
Truss’ diagnosis of Britain’s growth riddle should be remembered October 21, 2022 The Italian Ambassador to Britain is this week a very grumpy man. The source of his angst is the cover of The Economist newspaper, which this week reads “welcome to Britaly,” alongside a mock-up of Liz Truss as a kind of Milanese Boudicca, branding spaghetti atop her spear and protected by a shield made of [...]
Britannia, Unchained from reality will be the ideological legacy of Liz Truss October 21, 2022 A month ago, just days into her premiership, I wrote that unless Liz Truss learnt to deliver a decent speech, she would be sunk. The prognosis was, it transpired, accurate. But my diagnosis was incomplete: her woeful speechmaking was just one of many political comorbidities. Her primary ailment was ideology. Liz Truss is an ideologue, [...]
Can anyone survive the cacophony of politics by Twitter and Whatsapp? October 21, 2022 It seems to be the fate of any prime minister who models themselves on heavyweights of our past to not so much fall short of them, but absolutely trash their legacy. Boris Johnson’s obsession with being Winston Churchill prevented him from being a prime minister who would even see out his term. Astonishingly, Liz Truss, [...]
What does Liz Truss’s resignation mean for Bitcoin and Sterling? October 20, 2022 The sudden resignation of the Prime Minister today has sent ripples of positivity across the markets where the pound has risen and crypto appears unmoved.