Steaming US jobs market raises risk of another jumbo Fed rate hike August 7, 2022 The US jobs market is still steaming despite the world’s biggest economy wobbling under the weight of soaring inflation and higher interest rates, figures published last week showed. America added 528,000 jobs in July, pushing the unemployment rate down to 3.5 per cent, below pre Covid-19 levels, according to data from the US Labor Department. [...]
US Federal Reserve’s rate hike cycle takes centre stage in investors’ minds August 7, 2022 Investors are grappling with a mix of challenges they have not faced in years. Tighter monetary policy. Sky-high inflation. Strong geopolitical tensions. These factors have driven volatile swings in asset prices. Usually in times of uncertainty, investors pile into the US dollar and American assets. And that is exactly what they are doing now. US [...]
Government launches security investigation into National Grid pipeline sale August 7, 2022 The Government has launched an investigation into the overseas takeover of the UK's main natural gas pipeline.
Exclusive Q&A: Ramboll on hydrogen’s role in the UK energy sector August 5, 2022 City A.M. sits down with John Mullen, UK Energy Market Director at Ramboll to discuss the viability of domestic hydrogen production.
Don’t blame shops for prices if leaders can’t stop inflation August 5, 2022 Inflation is soaring and the UK’s food and drink manufacturers are under incredible pressure. No one can remember such sustained, relentless price rises across all our inputs – everything, from energy and ingredients to transport and wages, is more expensive. With food price inflation now at 9.8 per cent, everyone is asking: how much further [...]
Next sales up as shoppers flock back to high street but firm warns of slowdown as inflation hits August 4, 2022 Next has shared elevated quarterly sales, suggesting that warm weather and the closure of high street rivals has driven shoppers into stores. In a trading update on Thursday, second quarter full price sales were boosted five per cent versus last year, some £50m ahead of the clothing firm’s previous guidance. Next attributed this to a [...]
Starmer’s brawl with the unions is a rite of passage for the Labour party August 4, 2022 All the Labour Party had to do was to cede the entire summer to Tory infighting. But when it comes to factionalist fights among themselves, Labour are the experts. Since being given a begrudging vote of confidence by Durham Police, clearing him from the most boring of allegations of rule-breaking, Sir Keir Starmer has found [...]
London markets turn around early losses on strong company earnings August 3, 2022 London markets turned around early morning losses today, driven by a bumper crop of results lifting market sentiment. The FTSE 100 and 250 were initially weighed down by a poor session on Wall Street on Tuesday triggered by fears over escalating tensions between the US and China after house speaker Nancy Pelosi’s trip to Taiwan. [...]
Battle for Number 10: From tax to NHS, here are all the promises Liz Truss and Rishi Sunak have made so far August 3, 2022 Yesterday, Liz Truss has this morning performed a screeching U-turn on a policy to pay regional public sector workers less than their London counterparts. it came after a severe backlash from Tory MPs and Tees Valley mayor Ben Houchen. The embarrassing move comes as Truss and her rival Rishi Sunak continue to flesh out their [...]
KKR slumps to second quarter loss as deals slowdown hits August 3, 2022 Investment giant KKR slumped to a loss in the second quarter of the year after market volatility sparked a slowdown in dealmaking and a fall in the return on its investments.