Number 10 hits out at rail union in threat to bring in strike busting legislation May 23, 2022 Downing Street has landed a fresh blow on the UK’s rail unions as Boris Johnson renews threats to bring in strike busting legislation. Johnson’s official spokesman told journalists today that the PM would not rule out new laws that would force a minimum number of public transport staff to still work during strikes. The legislation [...]
Boris Johnson says new package to fight cost-of-living crisis is coming: ‘No option is off the table’ May 23, 2022 Prime Minister Boris Johnson said this afternoon that “no option is off the table” to deal with the rising cost of living but added “I’m not attracted, intrinsically, to new taxes” in response to pressure to introduce a windfall levy on oil and gas firms. Johnson insisted there would be further help to deal with [...]
Traders increasingly short ‘awfully cheap’ Pound as inflation and cost-of-living crisis drive UK towards hard recession May 23, 2022 Traders are increasingly taking short positions against the Pound Sterling as the economic outlook for Britain deteriorates. Institutional investors, asset managers and other key players in the US, the world’s largest financial market, currently hold more than 128,000 short positions against the Pound, compared to just 32,000 long positions, according to the most recent figures [...]
1 Minute Market Rundown – 23rd May 2022 May 23, 2022 Trade the ExtremesGBP Squeeze Higher ContinuesS&P 500 Teeters on Verge of a Bear Market Markets that close 20% below its peak level are defined as being in a bear market. The S&P is 19% down from its peak but with the Nasdaq and Russell 2000 27% off its highs, feels safe to say we have [...]
Recession concerns vie with inflation risk for investors in unpredictable market week ahead May 23, 2022 It was aother week of declines for US markets on Friday, with the S&P500 closing lower for the seventh week in succession, making a fresh 18 month low, and briefly retracing 50 per cent of the move from its 2020 lows to its record highs late last year. The Nasdaq 100 similarly pulled off new [...]
Johnson could use the meal deal moratorium to finally find some values May 23, 2022 A week ago the government announced that it was delaying the introduction of a ban on so-called BOGOF (buy one, get one free) offers on food and drink high in salt, fat or sugar. The prohibition, intended to help reduce overconsumption and therefore obesity, was deferred, according to the Department of Health and Social Care, [...]
Rail union fires fierce warning against government’s union busting plans May 22, 2022 The UK’s largest rail union has fired a stark warning to the government over its plans to curb the effectiveness of strikes, telling Grant Shapps his plans would be met by industrial action from the entire trade union movement. Shapps, the transport secretary, is threatening the transport unions with new laws that would make it [...]
EON boss warns 40 per cent of its customers face fuel poverty this winter May 22, 2022 EON's boss warns million more customers could be living in fuel poverty this winter, if the government doesn't step in to provide more help.
Fund managers double down on defensive positions as inflation soars May 22, 2022 Investors are boosting cash holdings and piling into real estate this year as they look to stave off the worst impacts of soaring inflation and market volatility sparked by Russia’s invasion of Ukraine.
Atom Bank eyes US IPO in major snub to London May 22, 2022 UK digital lender Atom Bank is eyeing up a US listing in what will be a major blow to London’s efforts to promote itself as a premier destination for tech IPOs.