Cleverly blasts Tory MPs for attacking Truss and wanting ‘quotable tweets’ October 13, 2022 Britain’s foreign secretary James Cleverly has hit out at Conservative rebels for publicly criticising Liz Truss over her spending plans, accusing them of being concerned with “having quotable tweets”. Cleverly’s comments comes after Tory MPs began to publicly call into question Liz Truss’ policies yesterday. A frenetic meeting of the backbench 1922 Committee last night [...]
Royal Mail workers kick off 19 day strike action October 13, 2022 The biggest strike of the year continues today as 115,000 postal workers will come out for a “dignified, proper pay rise”. Members of the Communication Workers Union – which represents Royal Mail Group workers – have kicked off the first day of their 19 day strike. The decision follows the union’s ballot for strike action [...]
Recruiter Hays reports record fees amid tight labour market October 13, 2022 Recruitment specialist Hays said it was confident it could navigate economic volatility ahead today as it reported a record quarter with fees up 15 per cent.
Truss has picked the wrong fight: the problem is inflation, not lack of growth October 13, 2022 In her speech to what was left of Tory party conference, Liz Truss promised that her priority was “growth, growth, growth”. The events of the past week have underlined why that is the wrong priority, at the wrong time, by the wrong prime minister. Much has been made about the prime minister’s ideological convictions but [...]
One in a bullion: here’s the chance for City fund managers to replace Bitcoin with gold October 13, 2022 Over the course of last year, Bitcoin has enjoyed what has seemed like a never-ending rise in its market value. At the start of 2021, a single token was valued at $32,000, and by April that value had more than doubled. Traders were optimistic that the wider acceptance of Bitcoin by merchants and big banks [...]
London’s FTSE 100 weighed down UK banks tumbling October 12, 2022 London’s FTSE 100 was marred by the UK’s largest listed lenders falling sharply today on fears over borrowers struggling to pay home loans. The capital’s premier index fell 0.86 per cent to 6,826.15 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 1.73 per [...]
M&S to speed up plans to close 1 in 4 larger clothing stores October 12, 2022 Marks & Spencer will accelerate its plans to slash the number of its larger stores that sell clothing and homeware products. In an update to investors on Wednesday, the supermarket revealed it would shutter more than one in four of its so-called full-line stores within three years rather than five. Plans also include the opening [...]
Liz Truss: I ‘absolutely’ won’t cut UK public spending October 12, 2022 Liz Truss has said she “absolutely” will not cut government spending, despite expectations the chancellor is set to bring forward measures to balance the Budget this month. The Prime Minister told the House of Commons that “what we will make sure is over the medium-term the debt is falling” and that “we will do that, [...]
Bitcoin retakes $19k after yesterday’s market unease October 12, 2022 The price of Bitcoin yesterday briefly dipped into $18,000 territory but quickly retook $19,000 and is trading at $19,105 this morning.
Hot takes and ignorant, political analysis on social media helps nobody October 12, 2022 If social media was as prevalent during the global financial crisis as it is today, it really might have been Armageddon. A shouting match of hot takes and immediate analysis, twitter in particular comes into its own during a financial crisis – with every latest twist and turn in markets turned into political fodder for [...]