Loosening Covid-19 laws in China will not be economy’s silver bullet, says ING December 7, 2022 The loosening of strict Covid-19 restrictions in China Is unlikely to be the silver bullet the local economy needs, according to banking giant ING. China announced today that it is further relaxing its pandemic measures, meaning only those working in high-risk positions and located in elderly homes, hospitals, child care and primary schools will need proof of [...]
Christmas chaos: Sunak threatens new widespread strike-busting laws December 7, 2022 Rishi Sunak is now looking at new widespread strike-busting legislation as the UK gets ready for a winter of disruption. Sunak announced during Prime Minister’s Questions (PMQs) today that “I have been working for new tough laws to protect people from” increasing strike action, with Number 10 announcing they will go beyond transport strikes. Number [...]
Cryptocurrency prices marching in step with equity markets December 7, 2022 The price of Bitcoin, at $16,765, is trading down 1.5% in the last day, while Ethereum has shed 2.39% off its price.
Stagecoach revenue grows by £100m in 12 months but fuel costs eat into profits December 7, 2022 Stagecoach’s revenue has jumped by nearly £100m in the past 12-months, but profits have taken a hit as fuel costs spike. The bus operator pocketed nearly £670m in the six months to the end of October, up from around £580m in the same period a year ago. However, operating and pre-tax profits have taken a [...]
Quiz swings to profit as it heads into Christmas party dress season December 7, 2022 Fashion retailer Quiz has continued to bounce back after a torrid lockdown, swinging back into the black in the first-half of the year. The retailer – which operates 62 stores in the UK and an e-commerce platform – posted a £1.8m profit before tax, for the six months to 30 September. It had suffered a [...]
Morgan Stanley cuts two per cent of jobs in ‘modest’ cull – reports December 6, 2022 Morgan Stanley is set to cut about two per cent of staff according to CNBC sources. It comes after chief executive James Gorman said last week that the investment bank would need to make ‘modest’ job cuts as sluggish markets weigh on profits. “Some people are going to be let go,” Gorman said at the Reuters NEXT conference, [...]
Over-50s considering returning to work due to concerns about retirement funds December 6, 2022 The overwhelming majority of over-50s are not financially set for retirement due to the pandemic and cost of living crisis. Just under two-fifths of those aged 50-54 are happy their retirement funds are sufficient, rising to 55 per cent for those 60-65. The worrying trend, highlighted in research from Handelsbanken Wealth & Asset Management, shows [...]
Global travel inflation easing for first time this year December 6, 2022 For the first time this year travel inflation has eased worldwide, including in Europe. According to data from business travel platform TravelPerk, inflation in the fourth quarter of 2022 went down to -8 per cent from 15 and 3 per cent in the second and third quarter respectively. Overall the price of European flights has [...]
December strikes: Who’s walking out when and how will it affect you? December 6, 2022 December is set to be a month blighted by industrial strife, with everyone from nurses and posties to train drivers and security staff to walk out. With inflation reaching a 41-year high at an eye-watering 11.1 per cent, thousands of workers have voted to down tools and ask for a real-term increase in pay. As [...]
FTSE 100 only major index to swerve loss this year December 6, 2022 London’s FTSE 100 has breezed past its major international rivals to emerge as the only blue-chip index to squeeze out a gain so far this year, research by City A.M. shows. The capital’s premier index has climbed around two per cent in pound terms in 2022 and is on track to end the year as the [...]