Weakening Chinese economy weighs on London markets October 18, 2021 A weakening Chinese economy weighed on London markets this morning as investor sentiment soured on concerns the global supply chain crisis will last longer than expected. The capital’s premier FTSE 100 edged down 0.12 per cent to 7,226.20 points during the opening session. China’s economy was dragged down by energy shortages, soaring commodity prices and [...]
Energy crunch chokes China economy October 18, 2021 China’s energy crunch choked economic growth as factories switch off production amid shortages and soaring energy costs. The world’s second largest economy grew 4.9 per cent in the last quarter compared to the same period last year, the slowest rate of expansion since the third quarter of last year. Third quarter growth came in below [...]
Long read: Tech firm with big ideas looks set for Shift into higher gear October 18, 2021 PICTURE the scene: a living room full of boxes, two flights of stairs and a hired van parked two streets away. After multiple trips – in both senses of the word – one is inclined to be a bit fed up. It’s the sort of moment that makes you wish somebody invented an easier way [...]
Bitcoin all-time high coming soon, analysts agree October 17, 2021 The majority of some of the industry’s most respected crypto analysts agree that a new all-time high for Bitcoin is highly likely in the coming days. Bitcoin bludgeoned its way through the psychological barrier of $60,000 on Friday on whispers that the US Securities and Exchange Commission might be on the cusp of granting approval [...]
600,000 new jobs in last six weeks as number of vacancies climbs to 2.3m October 16, 2021 Growth in job adverts has continued and there are now 2.29 million vacancies on offer, according to new research shared with City A.M. today. The Recruitment & Employment Confederation said the number of job postings increased by more than 600,000 since the last week of August, including 235,000 new adverts online last week. The growth [...]
Make do and mend: Britain’s wartime mentality is back as spending nosedives October 15, 2021 As the UK continues to battle Covid-19 and a series of fuel, energy and distribution crises, households appear to be battening down the hatches in preparation for a post-pandemic Britain. The once popular wartime mantra, ‘Make do and Mend’, is once again making a revival as household spending begins to fall significantly. ONS data analysed [...]
SEC looks set to approve Bitcoin Futures ETFs lifting markets October 15, 2021 Bitcoin futures exchange-traded funds could begin trading on US exchanges as early as next week with the SEC set to approve the products. Sources familiar with the matter told Bloomberg that the regulator is unlikely to prevent the products from starting to trade. While previous Bitcoin ETF applications have been rejected by the regulator, however, [...]
Amazon appeals record €746m fine for EU data law breach October 15, 2021 Amazon has officially appealed a record €746m fine from the European Union’s privacy watchdog for breaching the bloc’s data protection rules. The appeal, which was filed today at the Luxembourg Administrative Tribunal, is for the collection and use of individuals’ personal data, which violated General Data Protection Regulation, or GDPR law. The retail and technology [...]
Labour squeeze shows no sign of cooling before Christmas October 15, 2021 Worker shortages that are threatening to throw a spanner into retailers’ Christmas operations show now signs of cooling. Over the last week, 235,000 job postings were created online, with a noticeable jump in demand for sales and retail workers, research by the Recruitment and Employment Confederation (REC) found. The uplift was partly driven by a [...]
Dunelm boss pay quadruples despite refusal to repay business rates holiday savings October 14, 2021 Even though homewares chain Dunelm continuing to insist it should not repay savings made from the business rates holiday, the company revealed today its boss’ pay package has more than quadrupled to over £4m. The retailer has repeatedly claimed it was right to enjoy the £22m in tax savings, as its stores were forced to [...]