ABF and Primark sales to surpass pre-Covid levels as consumers eye luggage and swimwear February 28, 2022 Associated British Foods (ABF), which also owns budget retail chain Primark, has said it is on track to surpass pre-Covid levels of sales and operating profit. The food manufacturer has been battling against inflation, alongside the rising costs of energy, but anticipates grocery revenue to inch two per cent higher than 2021. While Primark sales [...]
Ukraine crisis: what does it mean for asset allocation? February 28, 2022 Russia’s invasion of Ukraine, which is having devastating human consequences, has increased the risk of a stagflation environment – one of slowing economic growth but high inflation. How should investors prepare for this possible scenario? Our analysis reveals which asset classes are likely to outperform if it comes to pass. Our live blog on the Ukraine crisis [...]
Petrol prices hit £1.51 per litre as cost of living crisis deepens February 28, 2022 UK petrol prices have broken records yet again following Russia’s invasion of Ukraine, which has further driven fears of supply shortages and seen oil prices spike to over $100 per barrel for the first time since 2014. The latest fuel watch figures from motoring group RAC reveal that unleaded petrol hit a peak on Sunday, [...]
Distribution giant Bunzl reports slip in profits despite boost in revenues February 28, 2022 Distribution giant Bunzl reported a slip in profits today despite revenues rising 1.7 per cent, as its food and retail divisions rebounded from a pandemic slow down.
UK inflation to trend higher as firms hoist prices amid cost barrage February 28, 2022 Inflation will trend even higher in the coming months driven by UK businesses lifting prices to cope with intensifying wage pressures, reveals a fresh survey published today. Nearly half of firms are expecting to hike pay at least one per cent over the coming year, leading to them raising prices to protect margins, according to [...]
Russia-Ukraine conflict to accelerate trend toward de-globalisation, says Goldman Sachs February 27, 2022 The trend toward de-globalisation sparked by the pandemic has been accelerated by the Russia-Ukraine conflict, according to top Wall Street analysts. Countries were already increasingly considering on-shoring supply chains after they were burnt by the Covid-19 crisis disrupting trade flows, according to Goldman Sachs. “No matter where the current crisis goes from here, the damage [...]
Covid-19 pills will ‘allow the UK to fully reopen economy’ as pandemic impacts weigh February 27, 2022 Landmark Covid-19 pills will “allow the UK to fully reopen its economy”, according to analysts, as the impacts of the pandemic continue to weigh on the economy. Companies including famed vaccine maker Pfizer, which has won regulatory approval for its Paxlovid pill, and Merck, have revolutionized the global immunisation process with antiviral pills. “The acceleration [...]
Week ahead: Russia-Ukraine conflict to drive market swings in City February 27, 2022 Wild market swings are expected to characterise the week ahead in the City as investors respond sharply to developments in the Russia-Ukraine conflict. Last week, the FTSE 100 registered its worst day in 20 months on Thursday, the day Russian troops flooded into Ukraine, before staging a comeback on Friday to end the week down [...]
John Lewis ditches ‘never knowingly undersold’ pricing pledge February 25, 2022 John Lewis will ditch its iconic “never knowingly undersold” pricing pledge on the grounds it does not reflect the current retail landscape, as high street stores look to fend off competition from online retail giants.
UK-based Chinese companies suffered from global instability last year, new research shows February 25, 2022 Revenues generated by Chinese companies working in Britain have dropped by almost a third, due to global instability and the impacts of Covid-19, according to new research. Chinese companies employed 61,000 UK residents contributed £63bn to the British economy in 2021, according to new figures from the Tou Ying Tracker. The £63bn in revenues generated [...]