UK car production falls for eighth consecutive month following chip shortages March 25, 2022 The UK’s automotive output fell 41.3 per cent in February as chip shortages don’t seem to end. According to data from the Society of Motor Manufacturers and Traders (SMMT), car production went down to 61,657 units produced, the worst February since 2009. Production for the domestic market went down 35.8 per cent, while overseas markets [...]
What impact is “greenflation” having on commodities? March 24, 2022 Under-investment in the supply of commodities across energy, metals and agriculture, as a result of policies to mitigate climate change, is limiting supply growth and driving prices higher. Commodities outperformed bonds and equities for the first time in almost a decade in 2021. Even before the Russian invasion of Ukraine, these trends looked set to [...]
London’s top indexes struggle for direction on tame day in City March 24, 2022 London’s top indexes struggled to squeeze out any gains today on a tame day of trading in the City. The capital’s premier FTSE 100 index edged 0.09 per cent higher to 7,467.38 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.52 per cent [...]
Energy suppliers raise concerns over Putin’s push for rouble payments March 24, 2022 Suppliers questions the viability of Russian President Vladimir Putin's call for gas payments to be made in roubles.
Chelsea bankers reject bids from Saudi Media Group and Woody Johnson March 24, 2022 The sale of Chelsea took a major step towards conclusion today when a number of bidders, including Saudi Media Group and Woody Johnson, were reportedly rejected. US bank the Raine Group, hired to sell the club by sanction-hit owner Roman Abramovich, contacted a number of unsuccessful bidders as it whittled down would-be buyers. Saudi Media [...]
PM Boris Johnson dents UK and Ireland bid by suggesting Ukraine should host Euro 2028 March 24, 2022 Prime Minister Boris Johnson has appeared to undermine the UK and Ireland’s bid for Euro 2028 by suggesting Ukraine be named hosts. Johnson also joined a chorus of criticism of Russia, who only declared their interest in staging the championship hours before the deadline on Wednesday. “The idea of Russia holding any football tournament or [...]
US reaches deal with EU to boost LNG supplies March 24, 2022 The US is expected to supply the EU with 15bn cubic metres of liquefied natural gas by the end of the year to reduce dependence on Russia.
Moscow Stock Exchange reopens for first time in nearly a month March 24, 2022 The Moscow Stock Exchange partially reopened today after trading in shares was frozen for more than three weeks as authorities tried to avoid a collapse in Russian equity prices. Shares actually rose after trading resumed, with Moscow’s benchmark index closing up over four per cent. The index is still down around 30 per cent over [...]
Watch the dramatic moment a Russian ship goes up in flames after a Ukrainian strike March 24, 2022 Dramatic footage has been shared on social media reportedly showing the moment a Russian landing ship burst into flames. Ukraine’s navy shared a short clip on Twitter showing the vessel after being hit by the Kyiv’s forces in the port city of Berdyansk. The ship, called the Orsk, was according to the Telegraph an Alligator-class [...]
Spring statement: Record fall in living standards under current parliament March 24, 2022 UK living standards will fall quicker over the course of this parliament than any other since records began, reveals fresh analysis released in the wake of chancellor Rishi Sunak’s spring statement. The typical non-retired household is forecasted to be two per cent worse off by the time of the next election in 2024, according to [...]