‘No discernible sign’ of spending slowdown for betting titan Flutter amid cost of living crunch August 12, 2022 Gaming brands operator Flutter has said it has not yet seen any big shift in consumer spending, amid historically high levels of inflation. In interim results for the year, the FanDuel and Sportsbet said there had been “no discernible signs of a consumer slow down currently” as the second-half of the year progresses. The company [...]
Conservatives are paralysed by a false idea of what the ‘take back control’ means August 12, 2022 The Brexit promise to “take back control” has been translated to mean scrap all European regulation
UK jobs market still holding up despite recession warnings August 12, 2022 The UK jobs market is defying gloomy recession forecasts, but economists have warned joblessness could rise as the country limps into the worst of the cost of living crisis, a new survey published today reveals. Vacancies surged to 1.85m last month, the highest this year, in a sign employers are still trying to grab new [...]
Start-ups hit the brakes on hiring as costs soar August 11, 2022 Cash-strapped start-ups are slowing recruitment and ripping out unnecessary costs this year as rising costs batter the bottom line, top investors said today.
Ailing Haleon drags FTSE 100 lower as traders cheer cooling US inflation August 11, 2022 An ongoing slide in GSK and its consumer pharmaceutical spin out firm Haleon’s shares dragged London’s FTSE 100 lower today. The capital’s premier index fell 0.55 per cent lower to 7,465.91 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped 0.26 per cent to [...]
Truss backs Bank of England review to ensure ‘it is fit for purpose’ August 11, 2022 The biggest overhaul of the Bank of England in 25 years may be needed to ensure “it is fit for purpose,” Tory leadership front-runner Liz Truss’s campaign told City A.M. today. The comments represent an escalation in Truss’s drive to shake up the regime overseeing the Bank’s performance. She has promised to review Threadneedle Street’s [...]
A Tale of Two Forecasts: Investors back IEA’s hiked demand outlook over OPEC gloom August 11, 2022 Investors have backed the IEA's outlook for oil demand over OPEC's, with both organisations offering contrasting visions this year.
The end of the bear? This time is different August 11, 2022 Dr Chris Kacher unveils the exciting possibilities that lie ahead in the crypto markets, but with one eye on the macro.
HSBC is overstating Asia demerger cost, Ping An claims August 11, 2022 Britain’s largest bank HSBC is blowing up the financial hit from carving out its Asia business to water down pressure from its biggest shareholder to demerge, sources close to the matter said. Chinese insurer Ping An claimed selling off the high street lender’s highly profitable Asia arm would unlock $35bn (£29bn) in value for shareholders [...]
Profits at M&G plunge to £182m as market turbulence hits August 11, 2022 Investor M&G reported its profits had slumped by nearly half in the first six months of the year after it was rocked by “adverse market movements” and soaring inflation.