The UK now has a crypto-friendly Prime Minister in Rishi Sunak October 24, 2022 Despite the economic gloom, crypto investors are going to be cheered by the arrival of Sunak at Number 10, says Nigel Green.
UK borrowing costs fall after Sunak wins race to No 10 October 24, 2022 UK borrowing costs fell sharply today after former chancellor Rishi Sunak seized the keys to Number 10 following leadership contender Penny Mordaunt’s withdrawal. Yields on the 10-year gilt fell around 30 basis points today to below four per cent. Yields and prices move inversely. They had been falling in early morning trading after Boris Johnson [...]
Shell could start profit slowdown as Labour pushes to expand windfall tax October 24, 2022 The historic profit run from oil and gas titans is expected to slow down this week, when Shell unveils its latest results.
Nightmare before Christmas: Half of shoppers to fork out less for gifts October 24, 2022 Half of shoppers are intending on spending less on Christmas this year as plunging consumer confidence sparks further concern for businesses. One in three of those shoppers said they would slash present budgets for close friends and family by over £25 per person, according to data from market insights firm Kantar. Brits are facing sky-high [...]
Political and economic uncertainty pushes retail footfall down by 2.3 per cent October 24, 2022 Political uncertainty and economic instability contributed to a dip in retail footfall, with high streets being hit the hardest. Across the UK as a whole, there was a marked decline in footfall for retailers by 2.3 per cent last week, New figures from Springboard show. The data shows in the three retail sectors, high streets, [...]
This is a global, not a UK specific, economic slowdown October 24, 2022 Much attention has been devoted to the comings and goings at Number 10 Downing Street and the ailing economy in recent weeks, but the UK is not alone in wilting under the weight of soaring prices and interest rates. The eurozone economy, made up of the 19 countries that use the euro, is on course [...]
Investors pull record £27.9bn from UK funds amid political turmoil October 24, 2022 Investors pulled a record £27.9bn from UK funds last month as the disastrous mini-budget and political turmoil sent shockwaves through the markets, new data has revealed.
All eyes in the City on UK gilt yields as Boris Johnson steps away and Rishi Sunak steps up October 24, 2022 Despite all the turmoil around UK politics last week, the pound ended up finishing the week higher for the third week in a row against the US dollar, while gilt yields closed lower. It was set up to be another key week for the pound with the prospect of another Conservative party leadership contest however [...]
BT strikes likely to continue until next April says insider October 24, 2022 BT and Openreach strikes over pay are likely to continue well into next year, says union insider. This could mean that the Communication Workers Union (CWU), which represents around 40,000 BT workers, could cause disruption across 999 call centres and Openreach engineer services until next April — spelling danger for a winter of potential blackouts and [...]
UK headed for ‘deep recession’ on political turmoil and soaring interest rates October 24, 2022 The UK could be hurtling toward a “deep recession” caused by a mixture of political turmoil and soaring prices forcing the Bank of England to hike interest rates steeply, a closely watched survey out today reveals. Britain’s private sector economy shrank sharply this month, with contraction rates returning to levels last seen in January 2021 [...]