Brits already cutting spending amid cost of living squeeze April 22, 2022 Predictions that the historic cost of living crunch will trigger a sharp pull back in spending look nailed on come through, two surveys suggest. Around one in three households have already cut spending just four months into the year, consultancy KPMG said today. Brits are forgoing discretionary purchases in response to greater pressure on their [...]
Rain Newton-Smith interview: Go for growth to turbocharge economic resilience April 22, 2022 Everyone knows the dismal time the UK economy is in for over the coming year – but let’s recap. Living standards are scheduled to fall at the steepest rate in 66 years as a result of wages failing to keep pace with an average annual inflation rate of over seven per cent, according to the [...]
Powell signals Fed will raise rates by half-point in May April 21, 2022 Jerome Powell, chairman of the Federal Reserve Bank, has confirmed his intention to act swiftly to tame soaring inflation.
Bailey: Bank of England walking ‘tight line’ on taming inflation and hitting growth April 21, 2022 The Bank of England is walking on “a very tight line” between taming inflation and heaping greater woe on the UK economy. That’s according to Andrew Bailey, the governor of the Bank of England, who, speaking to the Peterson Institute today, added that the historic high cost of living is going to result in “very [...]
Industrial giants tumble in London as commodities boom runs out of steam April 21, 2022 Sharp falls among industrial giants led to a mixed day for London’s top indexes today. The capital’s premier FTSE 100 index edged 0.02 per cent lower to 7,627.95 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, jumped 0.36 per cent to 21,159.68 points. Growing [...]
Stretched employees face unmanageable workloads due to staff shortages, new survey show April 21, 2022 Almost two-fifths (38 per cent) of workers have said they are struggling to deal with “unmanageable” workloads, as a result of staff shortages, according to a survey from Totaljobs. At the same time, almost half (46 per cent) would like to see their companies hire more workers to make their workloads more manageable, while another [...]
Exclusive: Sun European’s managing director on private equity deal-making in the City post-pandemic April 21, 2022 Time for City A.M. to catch up with investment veteran and City insider Mark Corbidge, managing director and a member of Sun European’s Investment Committee.
Shares in London-listed mining firms tumble amid production shortfalls April 21, 2022 Spiralling costs, supply chain woes, and rampant inflation have piled on the misery for London-listed mining firms.
Retail hesitancy: Online sales drop as shoppers feel pinch of rising inflation April 21, 2022 Online shoppers are spending less as the cost of living crunch starts to bite across the world, and consumers have turned to BNPL services to continue purchasing. Global digital sales have dropped three per cent year-on-year, the first recorded drop in nine years of tracking by Salesforce. The firm’s shopping index shows a drop in [...]
Two-in-five Brits now say they think that Rishi Sunak is ‘incompetent’ April 21, 2022 A new survey has revealed 40 per cent of Brits now think Rishi Sunak is “incompetent” – a 23 per cent increase from January. The YouGov poll also found that 38 per cent of Brits think the chancellor is “competent”, which is a 16 per cent drop from last year. It comes as Sunak’s public [...]