Energy bills is Kwarteng’s first priority, then we must claw back our dismal productivity September 12, 2022 A looming 15-month long recession. Highest debt burden since the 1960s. Biggest living standards shock on record. It’s not the best time to be managing the UK economy. But that’s exactly what newly appointed chancellor Kwasi Kwarteng has been tasked with. His problems can be split into three categories: short, medium and long term. Kwarteng’s [...]
London’s economy powers through August in ‘growth mode’ as UK stalls September 12, 2022 London’s economy powered through August in “growth mode” despite the UK stalling, a new survey published today reveals. High street bank NatWest’s London purchasing managers’ index (PMI) remained in positive territory in August at 54.9. However, the PMI dropped sharply from 58 in July and was the weakest reading in nearly a year and a [...]
Meet the duo explaining the ‘dismal science’ 10 points at a time September 12, 2022 People think economics is boring. It’s all about finance. It’s all about money, they say. It’s tough to argue with them given the subject’s nicknamed the “dismal science”. But, two secondary school teachers are on a mission to change people’s minds about that. Peter Clift (Pete) and Gavin Simpson (Gav) and are the hosts of [...]
UK fintech investment tumbles as inflation rocks markets September 12, 2022 UK fintech investment plunged in the first half of 2022 as war in Ukraine and soaring inflation brought last year’s funding frenzy to a sharp close, new figures have revealed today.
Bank of England to send rates to four per cent after Truss energy package September 11, 2022 The Bank of England could be forced to hike interest rates to their highest level since October 2008 to offset Liz Truss’s around £150bn energy support stoking inflation, City economists have warned. Sanjay Raja, senior economist at Deutsche Bank, said borrowing costs may be hoisted to restrictive territory to tame price pressures, possibly reaching a [...]
City eyes economic data dump for clues on BoE rate hike path September 11, 2022 City traders will be looking for clues shedding light on how far the Bank of England will need to hike interest rates in this week’s economic data dump. The capital’s premier FTSE 100 index posted a decent performance last week, adding nearly one per cent to close at 7,351.07 points. Its mid-cap domestically-focused counterpart, the [...]
Market wrap: London stays open and sees shares and pound rise September 9, 2022 Markets in London traded as usual on Friday, and saw shares and the pound trade higher. The London Stock Exchange confirmed that it planned to maintain normal opening hours after the death of the Queen, but would close during any public holidays. The FTSE 100 joined an international rally, which saw global markets break out [...]
UK caps household energy bills at £2,500 as Truss promises business help September 8, 2022 British households will have their annual energy bills capped at £2,500 for two years in a £130bn+ scheme that will save consumers thousands of pounds. Prime Minister Liz Truss said the two-year Energy Price Guarantee will begin at the start of October and that the government will pay energy suppliers the difference between the cap [...]
European equity products weather second-highest month of outflows ever September 8, 2022 European equity products weathered their second-highest month of outflows on record in August as investors continued to flee markets in the face of continued volatility.
European Central Bank fires record rate rise shot to tame scorching inflation September 8, 2022 The European Central Bank (ECB) today hiked interest rates by the biggest amount since its creation in 1999 as it steps up its fight against a historic inflation surge on the Continent. President Christine Lagarde and co lifted borrowing costs in the bloc of 19 countries using the euro 75 basis points. The move takes [...]