Bets on US recession ‘badly misplaced’ after strong retail sales May 17, 2022 Bets on the US economy tipping into a recession “look badly misplaced” as consumer spending shows little sign of cooling amid historically high inflation That’s according to Wall Street analysts’ assessment of new retail sales data published today illustrating the US consumer is shaking off soaring living costs. Retail sales jumped 0.9 per cent over [...]
Explainer-in-brief: Another bump in a long road for China’s economy May 17, 2022 China feels the economic bite after more lockdowns
Victorian Plumbing claims victory after posting 67 per cent drop in earnings May 17, 2022 Online bathroom store Victorian Plumbing today said it had successfully captured a larger slice of the bathroom products market, after noting that its sales are now 39 per cent higher than before the pandemic. The Skelmersdale firm said its adjusted earnings were 67 per cent lower than last year and 24 per cent lower than [...]
Fiat “on-ramps” and “off-ramps” – what are they, and who needs them? May 16, 2022 Raymond Hsu of Cabital explains the pros and cons of 'on-ramps' and 'off-ramps', what they do, and why we need them.
Russia-Ukraine war generates new headwinds for European economy May 16, 2022 Russia’s invasion of Ukraine is generating fresh headwinds that will choke the European economy, reveal official forecasts published today. Surging energy prices caused by concerns over supply security following Moscow sending troops into Ukraine are set to strain households and businesses on the Continent. High input prices are likely to weigh on production, while elevated [...]
Greggs opens 49 new shops after sales of chicken goujons soar May 16, 2022 Sausage roll seller Greggs has seen shares dip after admitting city sales still lag behind the rest of its sites. Although the bakery chain said it had had a “good” start to 2022 on Monday, shares were down some 2.8 per cent in the afternoon. The firm has been reshaping its portfolio of stores to [...]
Post-pandemic expansion push for Screwfix as DIY giant goes on hiring spree for 800 people to staff 80 new UK stores May 16, 2022 As part of plans to open 80 new shops across the UK and Ireland, home improvement business Screwfix said this morning it is to create 800 retail jobs by January. The retailer’s sales were boosted during the pandemic as locked-down Britons hired tradespeople to spruce up their properties and gardens. Screwfix and B&Q owner Kingfisher [...]
Nailed on: Screwfix to open 80 stores in expansion May 16, 2022 Home improvement business Screwfix is to create 800 retail jobs by January as part of plans to open 80 new shops across the UK and Ireland. The retailer’s sales were boosted during the pandemic as locked-down Britons hired tradespeople to spruce up their properties and gardens. Screwfix and B&Q owner Kingfisher enjoyed profits of more [...]
Week ahead: City eyes potentially ‘staggering’ inflation figures May 15, 2022 The City will turn its gaze to what is likely to be another tranche of “staggering” inflation data in a week bulging with economic and corporate updates. London’s premier FTSE 100 index whipsawed last week, dropping sharply on Monday before finishing the week up 0.41 per cent at 7,418.15 points. The mid-cap domestically-focused FTSE 250 [...]
Tingo and MICT agree to merge May 12, 2022 African agri-fintech company Tingo and financial services provider MICT have executed a definitive merger agreement to consolidate both operations across the African and Asian markets.