Rachel Reeves or Liz Truss: Who really ‘crashed the economy’? January 10, 2025 Amid UK bond market turmoil, how does Reeves' budget compare to Truss' - and who is really responsible for 'crashing the economy'?
Rachel Reeves eyeing spending cuts in spring January 10, 2025 Rachel Reeves is considering cutting departmental spending as UK borrowing costs soar, despite risks it could “dampen” activity and “further dent anaemic” growth. The Chancellor is said to be eyeing further reductions to unprotected government departments’ budgets after she ruled out additional tax rises or more borrowing to avoid breaking her fiscal rules following the [...]
M&S: City broker slashes share price target on lower profit prospects January 10, 2025 Berenberg has downgraded its share price target for Marks and Spencer following lower estimates of long-term growth for the high street darling. The broker downgraded its price target from 410p to 384p, a cut of six per cent, due to a decrease in its profit estimate. “The potential for upside surprise now looks more limited [...]
Pound endures week of misery amid gilt sell-off January 10, 2025 The pound came in as the worst-performing G10 currency for a second day running yesterday, as the gilt market continues to trade at decade-long highs. After spiking as high as $1.255 on Tuesday, the pound has since fallen to $1.229, its lowest point since October 2023. “What makes the current situation particularly noteworthy is that [...]
Share price down after Sainsbury’s reported bumper Christmas January 10, 2025 Sainsbury's claims to have won the grocery market share for the fifth consecutive Christmas, with sales up nearly four per cent
Chancellor Rachel Reeves looks for pro-growth measures amid market tumult January 10, 2025 Earlier this week the yield on the 30-year gilt hit its highest level since 1998 while the 10-year gilt rose to its highest level since 2008.
Government announces post-Oasis ticket resale clampdown January 10, 2025 The government has said it will intervene to tackle ticket touts after a recent wave of frustration around inflated resale prices. As part of the government’s broader Plan for Change, a public consultation has been announced to stop exploitative practices in the ticket resale market and to improve transparency for fans. The announcement comes after [...]
Bank of England’s Breeden backs ‘gradual’ interest rate cuts January 9, 2025 A Bank of England rate-setter said she expects to back “gradual” interest rate cuts this year due to continued uncertainties about the economic outlook. Speaking in Edinburgh, Sarah Breeden said inflation had come down faster than expected throughout 2024, which will enable the Bank to continue lowering borrowing costs. “The recent evidence further supports the [...]
M&S, Greggs and Sainsbury’s shares slide on shaky outlook for UK economy January 9, 2025 Marks & Spencer (M&S), Greggs, Sainsbury’s and B&M shares have all slumped today after investors took fright at warnings of a slowdown in consumer spending over the next year. Aside from Sainbury’s, whose results will be announced on Friday morning, all the firms released solid earnings updates this morning, with M&S reporting an 8.7 per [...]
What’s behind the bond market turmoil? January 9, 2025 Although the jitters had calmed somewhat by Thursday afternoon, traders will be on high alert over the coming days.