ISA season: Beat inflation with an IFISA March 13, 2023 With inflation still hovering around 10 per cent, savvy investors across the UK are searching for the most lucrative opportunities to protect their portfolios from eroding in real terms. As we head into ISA season, there is also the opportunity to enjoy tax-free earnings on your investments, giving consumers an additional boost during the cost-of-living [...]
US Federal Reserve to refrain from rate hike later this month after Silicon Valley Bank collapse, bets Goldman March 13, 2023 Speculation is growing among traders that the US Federal Reserve could refrain from hiking interest rates later this month for fear of triggering another Silicon Valley Bank-style collapse. Turmoil in financial markets sparked by the tech-focused lender’s collapse has raised the likelihood Fed chair Jerome Powell and co may hold off raising rates any further. [...]
Have US government, regulators and Federal Reserve just reignited Bitcoin bull market? March 13, 2023 Nigel Green examines how the measures taken over Silicon Valley Bank seem to have helped to boost crypto prices.
Alcopops out, frozen berries in: How Brits’ shopping habits are changing the inflation basket March 13, 2023 Brits are swapping alcopops for frozen fruit as the nation looks to favour more healthy and environmental options in 2023, statistics from the ONS’ inflation basket can reveal. The tool which measures consumer spending patterns has also shown that non-chart CDs, and digital compact cameras have disappeared from UK shopping lists in the past year, [...]
Sunak to challenge Biden over US green subsidy package at upcoming talks March 13, 2023 The UK and US will “work through” concerns about green subsidies, Rishi Sunak revealed ahead of talks with President Joe Biden.
Direct Line shares crash as winter cold snap and inflation leave its results ‘as ugly as they can be’ March 13, 2023 Direct Line today posted a £45m loss for the year 2022 as the insurer suffered a hit from soaring inflation, extreme weather, and market volatility, in what analysts described as one of the “worst years” in the Bromley firm’s history. Shares in Direct Line fell by 5.79 per cent on the news, as the insurer [...]
UK pay on track to trail inflation for 15th month in a row as cost of living crisis bites March 13, 2023 Wages are on track to trail inflation for the 15th month in a row, underscoring how much pressure the cost of living crisis is piling onto household finances, official figures out on Tuesday are expected to show. Regular pay growth is projected to trim to 6.6 per cent over the three months to February, down [...]
London economy steams ahead to top UK growth league and on track to avoid recession March 13, 2023 London’s economy is racing ahead of the rest of the UK and is on track to power the country’s GDP out of its current slump, new figures out today show. The capital’s purchasing managers’ index (PMI) shot up to 56 points last month, up sharply from 50.5 points and far above the 50 point threshold [...]
Government must rival US $370bn IRA or risk gutting UK electric car industry March 13, 2023 The government needs to ramp up spending on Britain’s electric vehicle (EV) industry or risk being left behind by the US and its peers who are injecting hundreds of billions of pounds into their auto industries. That’s according to the Society of Motor Manufacturers and Traders (SMMT), the representative body of the automotive sector, who [...]
Recession kicked into long grass as UK steams ahead of Europe and US March 13, 2023 A recession hitting the UK economy is looking like an increasingly far flung prospect after yet more data today shows businesses and families are fending off the cost of living crunch. A net balance of 43 per cent of UK businesses are buoyant about the economy over the coming year, the highest level in a [...]