He could work on the delivery, but Bailey’s warnings were right August 16, 2023 So was he right? Bank of England governor Andrew Bailey’s comments that Brits shouldn’t ask for a pay rise looked tin-eared at the time, and it didn’t help when the Bank then upped its bonus pool. But his warnings of a wage price spiral appear to be coming to fruition. Now, what brought on the [...]
Biden’s $370bn green subsides are only a threat if we continue ignoring them August 16, 2023 When Biden first introduced the Inflation Reduction Act, everyone panicked. Since then, there has been stony silence from Britain.
House prices will eventually start to fall, as long as owners accept their new reality August 16, 2023 House prices are on the rise because fewer people are selling, and fewer people are selling because they think their property has preserved its value. Once they give up, prices will fall, writes Paul Ormerod
Could new EU laws see Manchester City and Newcastle face a state aid complaint? August 15, 2023 A complaint to the European Commission against Paris Saint-Germain for allegedly receiving state aid and distorting the market has raised the prospect of Manchester City and Newcastle United being next in the firing line. Football is accustomed to firebrand Spanish chief Javier Tebas taking shots at Paris Saint-Germain but his latest challenge to the French [...]
Over-50s skills gap persists as unemployment increases August 15, 2023 Skills bootcamps schemes are failing to get over-50s back onto payrolls, despite ministers prioritising older Brits returning to the workforce. Labour accused the government of not helping enough over-55s to retrain and claimed older workers were “abandoned to the scrapheap”, making up just one in 20 reskilling trainees. Adults aged 55 to 67 make up [...]
Would CVC ever consider a London listing? August 15, 2023 Buyout giant CVC is reported to have revived its listing plans in recent weeks and is heading for a blockbuster float on Amsterdam’s Euronext bourse.
Wilko rumour mill: B&M shares up as takeover whispers gather volume August 15, 2023 Wilko has fallen into administration but rumours are flying that fellow discounters could be circling the stricken retailer
Why we might need to take inflation positivity with a grain of salt August 15, 2023 Temple Melville is forecasting dark skies for world economies as Russia squeezes vital exports, meaning crypto needs a defined role.
Russia hikes rates to 12 per cent as ruble plummets to lowest level since Ukraine invasion August 15, 2023 Russia’s central bank has raised its key interest rate by 3.5% in a move designed to fight inflation and strengthen the ruble after the country’s currency reached its lowest value since early in the war with Ukraine. The decision to hike the key rate to 12% was announced after an emergency meeting of the bank’s [...]
FTSE 100 close: Wage growth fuels rate fears as M&S soars and B&M drops on Wilko speculation August 15, 2023 London’s FTSE 100 ended Tuesday down more than 1.6 per cent, as record-breaking wage growth fueled speculation of a 15th straight Bank of England rate hike. The capital’s blue-chip index was down 1.63 per cent by close of play to to 7,384.94, weighed down by listed investment firm Abrdn, down three per cent, alongside Pheonix [...]