Asda workers join supermarket strike action threats December 7, 2021 Asda workers have joined Tesco staff in threatening staff action over pay, with both supermarkets anxious to mitigate disruption for shoppers ahead of Christmas. Union GMB is balloting Asda workers over a potential strike after it described the supermarket as “not taking workers seriously” over pay despite “rampant” inflation. The ballot closes on 20 December, [...]
Outlook 2022: Global economy December 7, 2021 2022 is set to be another good year for growth, albeit the recovery is likely to remain unbalanced. Anticipated withdrawal of emergency levels of support will play important role in shaping outlook. Risks include higher-than-expected inflation and weaker growth. The emergence of the Omicron Covid variant has reminded us of the uncertainties which remain around [...]
Storm Barra has reached UK: More chaos expected for thousands of English households still without power December 7, 2021 Most oft he UK and Ireland will be hit by Storm Barra today, bringing disruptive winds, heavy rain and snow, according to the Met Office this morning, threatening more chaos as some households continue to struggle without power in the wake of Storm Arwen. Weather warnings for snow, ice, rain and wind have been issued [...]
Chris Tremlett: Ashes series in Australia are the stuff of dreams for England cricketers December 5, 2021 Playing for England in the Ashes – and especially in Australia, where the action begins this week – is what I dreamt about when I was growing up. I remember watching the likes of Merv Hughes and Glenn McGrath, and learning about the history of the series and the whole culture of playing Down Under, [...]
Crypto crash observers point the finger of blame at Omicron Covid-19 variant December 4, 2021 The sudden fall in the value of cryptocurrencies over the last 48 hours is being driven by global fears surrounding the Omicron variant, industry observers say.
Sea of red on Wall Street bleeds into London markets December 2, 2021 A crash on Wall Street on Wednesday triggered by the chief of the US Federal Reserve signalling stimulus could be pulled earlier than expected bled into London markets yesterday. The capital’s premier FTSE 100 index closed 0.55 per cent lower at 7,129.21 points, while the mid-cap FTSE 250 index, which is more aligned with the [...]
Red hot property market makes Brits the richest they have ever been December 2, 2021 A booming property market triggered by a tax holiday and Brits demanding larger homes has made the UK the richest it has ever been. Household wealth in Britain swelled 8.4 per cent over the last year to £11.2 trillion, the highest it has ever been since the Office for National Statistics (ONS) started tracking the [...]
US Fed chief Powell insists inflation will pull back despite casting doubt over central bank’s forecasts December 1, 2021 The chief of the US Federal Reserve today insisted price rises in America should pull back from a three-decade high in the middle of next year despite casting doubt over the central bank’s own inflation forecasts. Jerome Powell said the Fed expects inflation to fall “significantly” in the second half of next year, while in [...]
OECD hikes UK economy forecast propelling Britain to top of G7 table, but inflation set to bite December 1, 2021 The organisation overseeing the world’s richest economies hiked its forecasts for the UK economy this year and next year, propelling Britain to the top of the G7 rankings for growth. The UK economy will expand 6.9 per cent this year, 0.2 percentage points higher than previously expected, according to the Organisation for Economic Development’s (OECD) [...]
US Fed chief Powell retires word ‘transitory’ to describe inflation December 1, 2021 US Fed Chief Jerome Powell said inflation would stick around for longer than hoped yesterday as a glut of global data suggested rising prices could slow the global recovery. Powell said yesterday it was time to “retire” the word “transitory” to describe the rapid pace of price hikes currently spiking the world economy. His shift [...]