Miner success: BHP and Antofagasta post bullish trading updates October 19, 2022 Two FTSE 100 mining groups groups have posted bullish production updates, despite challenging headwinds.
Truss says she’s ‘committed’ to state pension triple lock October 19, 2022 Liz Truss has said she is “committed” to increasing the state pension by the rate of inflation, after Number 10 just yesterday refused to back the triple lock. Truss said during Prime Minister’s Questions (PMQs) that “I am completely committed to the triple lock and so is the chancellor”. Truss’ spokesperson and Jeremy Hunt both refused [...]
Lookahead: Demand questions will take centre stage at Tesla’s quarter report October 19, 2022 Demand issues are expected to take centre stage as Tesla unveils its third quarter report later tonight. Analysts have become increasingly sceptical about the electric vehicle (EV) giant’s ability to weather the storm of soaring inflation rates, sky-high energy bills and demand weaning in China. In a trading update published earlier this month, Tesla reported [...]
Analysis: This shapeshifting inflation surge ain’t over yet October 19, 2022 Today’s inflation figures may have caused a few chairs to be flung at walls in the Bank of England. Prices are up 10.1 per cent over the year to September, above the City’s expectations and up from August. They were in line with the Bank’s forecasts though, a genuine rarity. Remember, the central bank has [...]
Analysis: Keeping Triple Lock still requires £550k pension for ‘comfortable’ retirement October 19, 2022 Even if the State Pension was uprated in line with September’s inflation figure of 10.1 per cent, pension savers would still need to build up a pot of around £550,000 to ensure a comfortable standard of living in retirement, according to new figures shared with City A.M. this morning. The data comes amid the increased uncertainty over whether the [...]
Bank of England to launch record rate rise to step up fight against 40-year high inflation October 19, 2022 The Bank of England will have to hike interest rates by a record whole percentage point at its meeting on 3 November, City economists are betting today after inflation returned to a 40 year high of 10.1 per cent last month. Prices are still rising sharply despite the Bank already lifting borrowing costs seven times [...]
Transport secretary Trevelyan calls for ‘wage restraint’ in rail October 19, 2022 Rail workers’ wage increases need to be realistic as the Treasury cannot cope with salaries going up according to inflation rates, transport secretary Anne-Marie Trevelyan said. “Within the rail sector we have to maintain wage restraint because we’ve already spent £16bn just keeping it going,” Trevelyan told the transport select committee earlier today. “So it [...]
Quilter assets slide as volatility shakes markets October 19, 2022 Shares in wealth manager Quilter dived this morning as the FTSE 250 firm revealed its assets under management tumbled to £96.9bn in the three months to the end of September.
Liontrust sheds £1.6bn in three months as investors flee volatility October 19, 2022 Asset manager Liontrust said more than £1.6bn had been pulled from its funds in the past three months as investors continue to pull back from the markets and shield their cash from volatility.
Nestlé has strongest sales growth since 2008 after inflation leads to 7.5 per cent price rises October 19, 2022 Inflation forced Swiss food giant Nestlé into 7.5 per cent price rises, leading to the highest sales growth in 14 years. The chocolate maker announced organic growth of 8.5 per cent for the nine months of 2022, saying “significant cost inflation” was the driver of its price increase. Its sales were up 9.2 per cent [...]