The week in review July 29, 2022 Bitcoin had a sudden surge yesterday breaching $23,000 for the first time and even (briefly) spiking to beyond $24,000 at one point early this morning. So what’s going on and is it likely to stay there?
French asset manager Amundi takes hit from turbulent European markets July 29, 2022 French asset manager Amundi today said the value of the assets it manages has dropped by 4.75 per cent compared to three months ago, due to “unfavourable” market conditions. The Paris headquartered firm said net incomes for the first half of the year were 16 per cent lower than a year ago, as it said [...]
Exclusive: OEUK defends windfall tax’s investment relief and calls for domestic energy ramp-up July 28, 2022 The UK's leading industry body for offshore energy has defended the continued inclusion of investment relief within the windfall tax.
Upbeat earnings fail to turn investors’ eyes from steep US technical recession July 28, 2022 A string of upbeat earnings was not today enough to cushion City investor jitters over a slowdown in the US economy. London’s premier FTSE 100 index dipped 0.04 per cent to 7,345.09 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.1 per cent [...]
Total Energies records profit surge as commodities boom but disappoints with lean dividends July 28, 2022 Total Energies has posted a sharp surge in second-quarter profits, powered by soaring oil and gas prices following Russia's invasion of Ukraine.
Biden administration: 75,000 Russian troops have been killed or injured in Ukraine war so far July 28, 2022 Up to half the troops Russia has committed to the war in Ukraine have been killed or injured, according to classified information from the White House. Joe Biden’s administration officials told House lawmakers that 75,000 Russians have been killed or wounded during the ongoing war in Ukraine. Neither Russia or Ukraine have released official figures [...]
US plunges into technical recession as rest of world braces for similar fate July 28, 2022 The US economy has plunged into a technical recession in a sign of things to come for the rest of the world, figures published today revealed. The American economy unexpectedly shrank 0.9 per cent in the three months to June, marking the second successive quarter the economy has contracted, meeting the common definition of a [...]
More than 100,000 Ukrainian refugees have settled in Britain since start of Kremlin’s war July 28, 2022 More than 100,000 Ukrainians fleeing the Kremlin’s war have made their homes in the UK. 25,300 who have had visas approved are still awaiting confirmation, through the Family and Sponsorship schemes set up earlier this year. More than 70,000 refugees arrived in Britain through the UK government’s sponsorship scheme, which allows applicants to settle if [...]
Surge in loan-loss reserves poison Santander profits July 28, 2022 Funds set aside to deal with an expected jump in loan defaults caused by borrowers’ being squeezed by a historic inflation surge has whacked Spanish bank Santander’s profits. The lender, which has a big presence in the UK, banked over €500m (£420m) in loan-loss reserves over the three months to June, up 25 per cent [...]
Exclusive: Energy boss slams Liz Truss’ plans to suspend green levies as ‘nonsensical’ July 28, 2022 Good Energy's chief executive Nigel Pocklington has slammed Liz Truss' proposal to impose a moratorium on green levies.