Best ETFs for an environment with rising interest rates August 19, 2022 On 4th August, the Bank of England raised interest rates by an outsize 0.50% – the largest single increase since 1995, taking the Bank Rate to 1.75%. This follows on from the Fed’s second 0.75% rate hike on 27th July, as Central Banks try to rein in inflation. Whether or not interest rate rises will [...]
Germany will struggle to reach gas storage target warns energy chief August 18, 2022 Germany will struggle to reach its November targets for gas storage levels this winter, warned the country's energy regulator.
Energy UK calls on Government to offer loans to businesses facing ultra-high bills August 18, 2022 Energy UK has called for the Government to work with industry and financial institutions, and bring in a deficit tariff scheme.
Marex hails record year as market volatility boosts profits to £49m August 18, 2022 London-based broking and trading firm Marex hailed a record set of results today as wild swings in commodity markets helped boost profits by 70 per cent.
As we move on from Russia, let’s be clear-eyed about our relationship with the Saudis August 18, 2022 When it comes to foreign policy, hawkishness is clearly in vogue. In the Conservative leadership contest, both the Truss and Sunak camps have vied to accuse each other of being dovish on China and soft on Russia. Would prime minister Truss or Sunak be a surer friend to Volodymyr Zelensky? Who would bring the hammer [...]
Keir Starmer’s plan to freeze the price cap would leave us all out in the cold August 18, 2022 There is an old nursery rhyme about how an elderly lady tried to rectify swallowing a fly by swallowing a spider, only to quickly realise she would now need to deal with the spider. She proceeds to consume a whole host of animals until she predictably dies. It’s a pleasingly nonsensical and morbid illustration of [...]
Norway sovereign fund loses more than $150bn thanks to tech rout August 17, 2022 Reuters Norway’s sovereign wealth fund, the world’s largest, made a record loss of 1.68 trillion Norwegian crowns ($174 billion) in the first half of 2022 as stocks and bonds were hit by global recession fears and rampant price inflation. The $1.3 trillion fund’s return on investment was a negative 14.4% for the January-June period, which [...]
Russia has 38 per cent jump in energy export earnings this year: internal document August 17, 2022 Reuters Higher oil export volumes, coupled with rising gas prices, will boost Russia’s earnings from energy exports to $337.5 billion this year, a 38% rise on 2021, according to an economy ministry document seen by Reuters. The jump in revenues, if it materialises, will help shore up Russia’s economy in the face of waves of [...]
Bank of England to launch another jumbo rate hike to tame over 10 per cent inflation August 17, 2022 The Bank of England is set to launch a series of jumbo rate hikes to tame inflation that is beginning to be driven by domestic factors, City economists warned today. Prices climbed 10.1 per cent annually in July, the fastest acceleration since February 1982 and much higher than the Bank and analysts’ forecasts, according to [...]
Brits could suffer £5,600 energy bills as power and gas prices climb to record highs August 17, 2022 The consumer price cap will spike to £5,600 per year amid sustained supply shortages in Europe.