Bakkavor chugs ahead with revenue growth despite China curbs May 25, 2022 Fresh prepared food maker Bakkavor has chugged ahead with revenue growth, despite local Covid-19 restrictions in China significantly hitting the business. The London-headquartered producer reported a revenue of £485.4m in the three months to 26 March, up 11 per cent in comparison with the same period last year. China’s so-called ‘zero-Covid’ stance on the virus [...]
Fish and chip shops struggle to keep heads above water as sector battered by price rises May 25, 2022 Some fish and chip shop owners could be driven to commit fraud in the absence of any further tax relief, one industry boss has warned. The words of warning came from president of the National Federation of Fish Friers, Andrew Crook, who told CityA.M. that the fish and chip industry had felt “abandoned” by the [...]
The Bank’s climate warnings are too overblown to help May 25, 2022 What was it HSBC’s now-suspended banker Stuart Kirk said about alarmist climate warnings? “Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS WRONG” was the title of the slide which has seen him taking some unexpected time in the garden, as he dared to offer the heretical view that reports of the world’s imminent demise may [...]
City spooked by more signs of cost of living crunch chilling UK economy May 24, 2022 More signs of the cost of living crunch cooling the UK economy weighed on market sentiment in London during opening exchanges today. The capital’s premier FTSE 100 index dropped 0.39 per cent to 7,484.35 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, tumbled 1.47 [...]
The tech tumble strikes again: Social media firms set to lose £112bn following Snap warning May 24, 2022 Snapchat's parent company's shares tumbled nearly 40 per cent in early morning trading, after the company warned against dwindling revenues and slowing recruitment.
L’Oreal boss: Shoppers continue to buy beauty products despite inflation May 24, 2022 The boss of cosmetics giant L’Oreal has said it has not experienced shoppers holding back on purchasing beauty products due to rising inflation. So far, the firm had seen “no impact of inflation and price impacts on consumers’ beauty consumption,” L’Oreal CEO Nicolas Hieronimus said. His comments were made to the Reuters news agency at [...]
IMF warns inflation is a ‘clear and present danger’ and is here to stay May 24, 2022 IMF First Deputy Managing Director Gita Gopinath has said that inflation “will remain significantly above central bank targets for a while.” She added: “It is very important for central bankers around the world to deal with inflation as a clear and present danger, that is something they need to deal with in a very forceful [...]
There is a fundamental flaw in the crypto economy May 24, 2022 VJ Angelo, CEO of Inspira Wealth, highlights cryptocurrency's main flaw - with some good news and bad news.
Bitcoin price dips below $30k while crypto becomes part of the conversation in Davos May 24, 2022 The Bitcoin price continues to hover around $30k, having fallen around three per cent over the past 24 hours to $29,400 this morning.
UK economic headwinds cast shadow over Sunak’s cost of living support package May 24, 2022 A slowing UK economy will heap more pressure on the country’s finances, casting doubt over the scale of support chancellor Rishi Sunak will launch to help households through the cost of living crunch. That’s according to economists’ assessments of fresh borrowing figures published today by the Office for National Statistics (ONS). A combination of rising [...]