UK climate tech investment set to double November 3, 2022 Climate tech investment in the UK is on track to double this year after firms in the sector scooped up $7.5bn in the nine months to September, new research has revealed.
Federal Reserve hikes rates 75bps again and Powell signals higher peak November 2, 2022 The US Federal Reserve today hoisted the world’s most important interest rate 75 basis points for the fourth time in a row and signalled the borrowing cost peak will be higher than previously thought, scrapping any bets on a so-called “Fed pivot”. The Washington headquartered central bank hiked rates to a target range of 3.75-four [...]
Cutting edge tech rarely sits still, so why is ESG slowing things down? November 2, 2022 Dr Chris Kacher turns his attention to energy consumption in world economics and what effect ESG is having on progress.
London’s FTSE 100 drops as miners dig themselves into a hole November 2, 2022 London’s FTSE 100 closed the day lower today after it was pulled by investors ditching UK mining giants. The capital’s premier index fell 0.58 per cent to 7,144.14 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped 0.12 per cent to 18,217.75 points. Mining [...]
Looking ahead to the FED this evening November 2, 2022 Wednesday the 2nd of November today and we are a few hours away from the next monetary policy update from the Federal Reserve. Looking ahead to today’s meeting the FED is widely expected to hike their target Fed Funds range by another 75 basis points to bring it to a range of 3.75%-4%. This would [...]
‘Dark clouds on the horizon’ warns Maersk, as it cuts shipping forecasts November 2, 2022 Maersk has warned of "dark clouds on horizon" as it cuts its forecasts for business activity until the end of year, amid recession fears.
Canada Goose and Estee Lauder gloomy forecasts amid Covid curbs in China November 2, 2022 Coat maker Canada Goose and make-up seller Estee Lauder both issued stark sales warnings yesterday due to Covid curbs in China. It comes as Chinese authorities have set out a seven-day lockdown in Zhengzhou, impacting the world’s largest iPhone factory. Canada Goose said yesterday that it was slashing its full-year revenue forecast due to pandemic-linked [...]
Iceland food boss ‘working day and night’ to keep pint of milk under £1 but price rises ‘will get worse’ November 2, 2022 The boss of Iceland has said he “doesn’t know” whether the price of a pint of milk can be kept under a pound, but is “working day and night” to stop it. Richard Walker made his comments on Amol Rajan’s podcast this morning, after joining a campaign to expand free school meals to children whose [...]
Homeowners told property values may get 11.3 per cent boost as Sunak restores stability November 2, 2022 The housing market could benefit to the tune of 11.3 per cent where house prices are concerned, as a result of the greater stability brought on by the appointment of Rishi Sunak as prime minister, a City firm told this paper today. Property lending agency Octane Capital analysed property market performance across the UK market [...]
Eurozone manufacturing economy flashes strong recession signal November 2, 2022 The eurozone manufacturing sector has tumbled into recession, driven by customers slashing spending in response to soaring prices and higher interest rates, a closely watched survey out today suggests. S&P Global’s final manufacturing purchasing managers’ index (PMI) for the 19 countries using the euro fell to 46.4 last month, down from 48.4 in September. The [...]