UK debt interest payments show the desperate need for economic growth August 18, 2022 Towards the end of the Johnson administration, which still staggers along in zombie-like fashion, it became fashionable to say that the problem was it never really stood for anything. This is true: even now with a degree of distance, Johnsonism remains something of a mystery beyond its defining principle that Boris remain very much in [...]
Letters: Don’t point the finger at me August 18, 2022 [Re: Inflation deals record blow to UK workers’ living standards, August 16] The latest statistics from the Office for National Statistics highlight the fact that the UK labour market is constantly reacting to a cocktail of external forces which impacts its balance, creating a headache for employers. Whilst the statistics show that the number of [...]
Norway sovereign fund loses more than $150bn thanks to tech rout August 17, 2022 Reuters Norway’s sovereign wealth fund, the world’s largest, made a record loss of 1.68 trillion Norwegian crowns ($174 billion) in the first half of 2022 as stocks and bonds were hit by global recession fears and rampant price inflation. The $1.3 trillion fund’s return on investment was a negative 14.4% for the January-June period, which [...]
Russia has 38 per cent jump in energy export earnings this year: internal document August 17, 2022 Reuters Higher oil export volumes, coupled with rising gas prices, will boost Russia’s earnings from energy exports to $337.5 billion this year, a 38% rise on 2021, according to an economy ministry document seen by Reuters. The jump in revenues, if it materialises, will help shore up Russia’s economy in the face of waves of [...]
Bank of England to launch another jumbo rate hike to tame over 10 per cent inflation August 17, 2022 The Bank of England is set to launch a series of jumbo rate hikes to tame inflation that is beginning to be driven by domestic factors, City economists warned today. Prices climbed 10.1 per cent annually in July, the fastest acceleration since February 1982 and much higher than the Bank and analysts’ forecasts, according to [...]
Inflation overshoot spooks investors as FTSE 100 house builders tumble August 17, 2022 London markets were shaken today by concerns that inflation is firming in the UK as housebuilders suffered heavy losses on the prospect of more rate hikes. The capital’s premier FTSE 100 index dropped 0.27 per cent lower to 7,515.75 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Nope film review: Jordan Peele does it again in UFO horror mystery August 17, 2022 In the five years since his debut film Get Out, Jordan Peele has established himself as a new Master of Horror. The promotional material for his latest work suggests he knows how popular he’s become, too: his own name is highlighted with equal prominence to the film’s title: Nope. Taking place on a California ranch, the [...]
Norway’s sovereign wealth fund notches record $174bn loss August 17, 2022 Norway's sovereign wealth fund, the worlds’ largest, made a record loss of 1.68 trillion Norwegian crowns ($174bn) in the first half of the year as its investments were rocked by fears of a global recession and rampant inflation.
UK house prices and rents defy inflation and continue to rise August 17, 2022 Despite rising inflation, housing prices have continued to grow since last year, official figures have revealed. In June, the average UK house price was £286,000, a £20,000 increase on last year, according to the latestfigures from the Office for National Statistics today. In London, house prices have seen 6.3 per cent growth in the last [...]
UK’s cost-of-living crisis could spark ‘Great Reshuffle’ as workers seek out better paid jobs August 17, 2022 Soaring inflation could spark a “Great Reshuffle” in the UK’s job market as workers are increasingly prioritising higher salaries in seeking to manage rising living costs, a survey of 2,000 workers shows. More than half (55 per cent) of UK workers are actively looking for jobs with a view to securing higher salaries due to [...]