Iceland boss: Absence of government support on energy bills risks job losses and bankruptcy for firms August 23, 2022 Iceland boss Richard Walker has called on ministers to issue more support for businesses struggling with sky-high energy bills. Without a price cap on businesses’ energy bills, smaller firms would surely collapse, the supermarket’s managing director told CityA.M. An absence of further support for businesses was “really serious,” as the colder months approach, Walker said. [...]
Europe’s gas crisis: what does it mean for investors? August 23, 2022 Europe faces high gas prices and potential shortages as supply from Russia dwindles. We ask our investment experts what this means for companies, the energy transition, and the eurozone economy. Europe’s precarious gas supply situation has been a prime focus for markets ever since Russia’s invasion of Ukraine at the end of February. The European [...]
Navigating systemic risks: Ukraine, climate and crypto August 23, 2022 “You cannot anticipate exactly how these risks or dangers are going to play out… But we should be pretty assertive in insisting that we need certain principles, including enough capital buffers — that is, equity unencumbered by any kind of contingent debt or anything like that — that can really withstand shocks in the core [...]
Just Eat sells £1.5bn stake in Brazilian food delivery giant August 19, 2022 Delivery giant Just Eat Takeaway has sold its stake in Brazilian counterpart iFood for €1.8bn (£1.5bn) to local internet company Movile. The 33 per cent stake in iFood, which has dominated the market share in Brazil, will bolster Movile’s food ordering and delivery segment, although it also operates across ticketing and logistics. The deal includes [...]
UK retail sales recover with the lure of summer promotion deals despite inflation August 19, 2022 Retail sales have recovered since June, as penny pinching Brits seek to navigate worsening inflation, according to official figures today. Around three quarters of adults have said they are very or somewhat worried about the rising costs of living in the past two weeks, according to a separate poll by the ONS. Sales, carried by [...]
Mary Portas: Future of high street is ‘less retail but better retail’ August 18, 2022 The future of the high street will involve “less retail but better retail”, according to broadcaster and retail guru Mary Portas. More than nine in ten retailers believe the UK high street is suffering, according to new research from marketplace Ankorstore, backed by Portas. High street firms are facing turmoil including heightened energy bills, staff [...]
Inflation overshoot spooks investors as FTSE 100 house builders tumble August 17, 2022 London markets were shaken today by concerns that inflation is firming in the UK as housebuilders suffered heavy losses on the prospect of more rate hikes. The capital’s premier FTSE 100 index dropped 0.27 per cent lower to 7,515.75 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Pubs feel pinch of energy and supply chain inflation August 17, 2022 HOSPITALITY businesses renewed calls yesterday for an emergency VAT cut as the sector deals with rampant energy hikes. New research released yesterday suggested that most bars and restaurants are dealing with “significant” energy cost hikes whilst a majority are also seeing dramatic hikes in their food and drink costs. The new data, compiled by consultancy [...]
Westbrooke Associates: Investment Strategies for Turbulent Times August 16, 2022 Many factors are attributed to 2022 being one of the most volatile global markets on record. Averse to instability and the unknown, currently, markets are enduring rising inflation and geopolitical uncertainty. Taking into consideration the Ukraine conflict, disruption of Russian energy exports, rising food costs and energy prices, it’s no wonder that market volatility is [...]
Walmart maintains outlook for next year as profits tighten against inflationary pressures August 16, 2022 US retail giant Walmart’s profits were eaten into by inflation as it maintains its outlook for the next financial year despite revenue being up 8.4 per cent. The supermarket chain took in $152.9bn in Q2 but said this strong growth was “partially driven by inflation”, which tempered its outlook, and its profits. Its comparative sales [...]