Savings rates: As FCA puts banks on war footing what are the best accounts for your cash? April 21, 2023 As interest rates look set to increase, we look at the best and the worst paying savings accounts on offer. Banks and savings providers have come under fire for not passing on interest rate rises to savers This week the FCA said it would be keeping an eye on banks’ first quarter profits to make [...]
Services sector reaches 13-month high but UK growth ‘lopsided’ as consumers raid the storecupboard April 21, 2023 Growth of Britain’s services sector has reached a year-high in April, a closely watched survey has revealed. Figures released this morning in S&P Global/CIPS flash UK purchasing managers’ index, show output rose to 53.9 in April from 52.2 in March. The survey showed that private sector growth had increased for the third consecutive month, beating [...]
FTSE 100 live: Flat morning in London as miners and gloomy retail sales offset consumer gains April 21, 2023 The FTSE 100 struggled to get off the mark in early trading on Friday as losses for industrial miners and gloomy retail sales data offset gains for some consumer and healthcare stocks.
Retail: Sixth wettest March on record dampens sales as shoppers’ fail to weather inflation hike April 21, 2023 Retail sales fell 0.9 per cent in March as wet weather conditions and high inflation hit consumer spending during the month. Despite Mother’s Day falling within the month retail, non-food sales such as clothing and homeware, fell by 1.3 per cent as the sixth wettest March on record since 1836 deterred shoppers from hitting the [...]
UK economy in ‘early stages of recovery’ as families shrug off inflation and interest rate hikes April 21, 2023 Britain’s economy could be in the early stages of a recovery, with consumers holding up pretty well under the pressure of high inflation and interest rate increases, a closely watched survey out today indicates. Families’ outlook on how well the economy will perform over the coming year is improving, while confidence in their own personal [...]
Inside the fight to save London’s grassroots music scene and keep cultural institutions April 21, 2023 Until landowners recognise the value in keeping cultural projects alive, regeneration projects will leave them by the wayside, writes Mark Davyd
Inflation drives record rise in car insurance premiums – with Londoners worst hit April 20, 2023 Soaring inflation has led to a record 20 per cent jump in UK car insurance premiums – the sharpest rise in a decade. Drivers are now paying on average £107 more for their car insurance than they were this time last year, according to the latest results from Confused.com’s Car Insurance Price Index. London motorists [...]
FTSE 100 close: London index muted as Barclays and Lloyds Bank give up early gains April 20, 2023 London’s FTSE 100 was muted today as investors ditched mining giants, curbing the sector’s recent rally, while high street banks gave up strong early gains. The capital’s premier index edged 0.01 per cent high to 7,899.48 points, while the domestically-focused mid-cap FTSE 250 index, which is more responsive to sentiment toward the UK economy, nipped [...]
‘We need a new rulebook’ because ‘times have completely changed’, Blackrock’s Wei Li says April 20, 2023 The global economy has entered a “new regime” as a series of major changes transform the global economy, Blackrock’s global chief investment strategist said. Speaking at TheCityUK’s international conference, Wei Li said “the times have completely changed and we need a new playbook.” Li suggested the global economy is being affected by a series of [...]
Flat packing in the USA: Ikea invests £1.7bn in stateside arm April 20, 2023 Ikea will invest €2bn (£1.7bn) into the US market, its biggest investment into a single market to date, as the home furnishings giant looks to capitalise on the current economic climate. The flat pack retailer said it plans to open eight new sites in the US alongside nine planning studios and order points, The Financial [...]