Euro on course for worst day since September in poor start to 2023 January 3, 2023 The euro has kicked off 2023 poorly, with investors ditching the common currency and flooding back into the US dollar. The currency used by the now 20 countries that make up the eurozone after Croatia joined the union earlier this month was on track for its steepest drop against the greenback since September last year [...]
Gold in the balance: Why a dovish Fed could see the price of bullion head north January 3, 2023 Gold has remained steady heading into New Year, with investors awaiting the next Federal Reserve hike before showing their hand.
Bowl food buffet: Poke House looks to raise almost £50m for expansion January 3, 2023 The boss of restaurant chain Poke House said it is planning to launch a funding round worth up to 50 million euros (£44 million) as the business continues to eye up opportunities to grow. Matteo Pichi, the group’s chief executive and co-founder, told the PA news agency he wants the chain to remain a global [...]
British factories yanked into recession by inflation, energy costs and wilting demand January 3, 2023 British factories are being yanked into recession by inflation, swelling costs and stumbling demand in a further sign the country is now in the early stages of a tough slump, a closely watched survey out today reveals. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for the [...]
Dry January: Pub bosses call on Brits to do their duty and get down the local – even if it’s for non-alcoholic beers January 3, 2023 Publicans have issued a rallying cry for punters to continue to back their local boozer this month as the industry battles an economic downturn – despite the growing trend for a ‘dry January‘ month off the sauce. The sector has struggled with sky-high energy bills all while consumers’ feel the pinch of household bills increasing [...]
Year Ahead: Squeeze on household incomes to intensify as tough recession will dominate 2023 January 3, 2023 2023 is expected to be an exceptionally tough year for the UK economy. The country is almost certainly already in a year-long recession, one that will probably prove to be deeper than that experienced in the early 1990s. The squeeze on household real incomes will intensify as rising interest rates join soaring inflation. Admittedly, the [...]
What’s in a year? Hopefully one without a new prime minister or an election January 3, 2023 Without making myself a hostage to fortune, I predict 2023 will be a year without as much political turmoil even as inflation causes havoc.
Amid a recession and a cost of living crisis, there are still reasons to be cheerful on the economy January 3, 2023 A recession and a cost of living crisis will dominate the headlines, but it's not all bad news for the UK economy, writes City A.M. economics correspondent Jack Barnett
Vodafone CEO frontrunner critical of telecoms sector January 2, 2023 Vodafone’s former non-executive director and ex-EE chief has publicly criticised the bureaucracy of European telecoms. Olaf Swantee, a Dutch businessman and key figure in the continent’s telecom sector has stated that the sector’s biggest companies are too complex and centralised. He stated that the sector needs to listen to customers. Swantee is rumoured to be [...]
Third of global economy will be in recession this year, IMF boss warns January 2, 2023 A third of the world economy will be in recession this year, according to a bleak warning from the boss of the International Monetary Fund (IMF). Although some countries will dodge recession, “it would feel like recession for hundreds of millions of people,” in those places also, Kristalina Georgieva said. The IMF managing director said [...]