Wall Street opens flat as investors await Fed minutes August 18, 2021 Wall Street’s main benchmarks opened broadly flat today as investors held back from making any sudden moves until after the publication of minutes from the Fed’s latest Federal Open Market Committee meeting. The blue-chip S&P 500 edged 0.07 per cent higher to 4,450.73 points, while the Dow Jones inched down 0.07 per cent to 35,321.59 [...]
UK inflation drops to two per cent in July August 18, 2021 Inflation in the UK dropped in July, driven by sharp falls in prices for clothing and footwear as retailers sought to stimulate demand by slashing prices amid the traditional summer sale season, according to official figures released today. The Office for National Statistics said prices rose two per cent over the last year, down from [...]
Triple-lock: How Boris and Rishi can both have their cake and eat it August 18, 2021 Is the triple-lock on its last legs? That question seems increasingly relevant in Whitehall. Average earnings rose by 8.8 per cent last month, including bonuses, according to figures published by the ONS yesterday. Moreover, earnings figures released next month are expected to set next year’s increase in the State Pension. So why is this relevant? The [...]
Just Eat and Carnival reported to FCA over lack of climate risk reporting August 18, 2021 Takeaway giant Just Eat and cruise liner Carnival have been reported to the UK’s financial watchdog over failing to report climate change risk to their investors. Since the beginning of this year, the UK’s listed commercial firms have had to disclose their climate-related risks to investors, according to the Financial Conduct Authority’s (FCA) legal requirements. [...]
Weaker than expected retail sales drags Wall Street down August 17, 2021 US stocks edged down during the open today after official figures showed US retail sales were much weaker than expected in July. The blue-chip S&P 500 dropped 0.55 per cent to 4,455.46 points and the Dow Jones lost 0.83 per cent to fall to 35,328.87 points. The tech-heavy Nasdaq extended the traditional benchmark’s losses to [...]
Just Eat posts revenue surge of 52 per cent but struggles to turn a profit in fight for market share August 17, 2021 Strong demand for food delivery amid the last of the Covid restrictions persisted in the first half of the year and boosted Just Eat Takeaway’s revenue, but efforts to increase its share of the crowded market impacted profitability. Revenue in the first six months of the year grew to €2.6 bn (£2.2bn) – a 52 [...]
60 seconds with… Marquee TV founder Simon Walker August 16, 2021 Marquee TV has been streaming live art and culture for 3 years. We had a chat with founder Simon Walker about the business of streaming the arts and partnering with arts organisations to bring a global audience to their performances. You describe yourself as the ‘business guy’ in the team, developing the business model. Has [...]
From grocery delivery to supply chains, the future of food tech is in flexibility August 13, 2021 Grocery delivery apps, promising to deliver food and drink in just 10 minutes, have become almost ubiquitous on London’s streets after more than a dozen launched in the last year. Venture-backed grocery companies have raised over $10bn so far in 2021, according to figures from Pitchbook. Less visible, but no less disruptive, we have also [...]
Disney emerges as streaming rival, elevating revenue above expectations August 13, 2021 Disney’s streaming service has emerged as a strong rival in the Netflix dominated sector, which has in turn elevated the group’s revenue above expectations. Revenue was up 45 per cent to £12.3bn in its third quarter – inching past analyst forecasts of £12.14bn. The entertainment giant pulled in £664m in net income in the three [...]
US stocks climb to record highs as inflation clip higher than expected August 11, 2021 US stocks climbed to record highs today as investors were boosted by data showing inflation growth in America may have peaked. The Dow Jones hit a record high today, surging 0.57 per cent to 35,465 points. The blue-chip S&P 500 also trailed higher, up 0.19 per cent to 4,444 points. However, the tech-heavy Nasdaq dropped [...]