Theo Paphitis: Dragons’ Den star says the high street is going nowhere and neither is he June 14, 2022 Theo Paphitis is not in any hurry to hang up his boots. After decades running the show at companies from lingerie to stationery firms, one might be mistaken for thinking the Dragons’ Den star, retail titan and former Millwall chairman may be mulling a change of pace. However, Paphitis tells City A.M. he has “a [...]
Is the metaverse crashing? How low can crypto markets go? June 14, 2022 Dr Chris Kacher explains why risk-on assets such as the metaverse are highly vulnerable to major market corrections.
Bellway and Crest Nicholson shares soar as record property prices boost housebuilders June 14, 2022 Shares in Bellway and Crest Nicholson have risen this afternoon, following upbeat trading updates which signal that record house prices are filling the pockets of housebuilders. Developer Bellway has seen its sales reservations continue to climb past their pandemic heights, as demand shows little sign of slowing. The London-listed real estate firm, whose shares rose [...]
US Federal Reserve to deliver 75 basis point rate rise tomorrow June 14, 2022 The US Federal Reserve will shock markets tomorrow by beginning a 75 basis point rate hike cycle in a bid to shake inflation out of the American economy. That’s according to top Wall Street analysts, who said last Friday’s inflation overshoot will force Fed chair Jerome Powell and rate setters to deliver a monetary policy [...]
Tough start to the week gets even tougher for Bitcoin June 14, 2022 The overall market capitalisation of cryptocurrencies fell below $1 trillion for the first time since early 2021, while crypto-related stocks plunged.
Brits’ living standards drop at quickest pace in over a decade June 14, 2022 Brits’ living standards are falling at the fastest pace in over a decade caused by historically high inflation outstripping pay, reveals official figures published today. Take home pay, accounting for price rises, dropped 2.2 per cent over the three months to April, the steepest fall since 2011, according to the Office for National Statistics (ONS). [...]
Where next for WH Smith shares? June 14, 2022 WH Smith could be one of Covid’s big winners. The retailer is expected to release their latest trading update on Wednesday. It is sometimes said of WH Smith that if it didn’t exist, one wouldn’t invent it. However, the retailer, which is due to post a trading update this Wednesday, could be one of the Covid pandemic’s [...]
A struggle to get credit: Bank lending to hospitality nosedives following end of Covid loans CBILS and BBLS June 14, 2022 Outstanding bank lending to small businesses in the hospitality sector has fallen by more than £1.4bn since the end of CBILS and BBLS loans schemes. According to new data shared with City A.M., bank lending dropped to £14.6bn in April 2022, down from £16.08 billion in March 2021. With the cost of living crisis eating [...]
Terrible Tuesday for Bitcoin as crypto tumbles 20 per cent in just two days with investors fleeing risk June 14, 2022 The price of bitcoin fell by another 10 per cent overnight, hitting an 18-month low of $20,834.70, before recovering to trade around $22,700 by 9am UK time this morning. In sterling terms, bitcoin is now trading around £18,665. Discussing the violent movements with City A.M. this morning, Adrian Lowery, financial analyst at DIY investing platform [...]
Unemployment rate remains stagnant as employees on payroll hit new record June 14, 2022 The UK’s unemployment rate has remained stagnant since February, according to official figures, after it dropped slightly to 3.8 per cent. The country’s employment rate inched 0.2 per cent higher to a total of 75.6 per cent, as it continues to chase pre-pandemic levels, the Office for National Statistics has found today. It comes amid [...]