London’s top indexes fail to recover China Covid lockdown triggered losses April 26, 2022 London’s top indexes failed to recover from Monday’s bruising session as investors were still jittery due to concerns over the severity of the impact on the global economy from China sticking to its zero-Covid tolerance policy. London’s premier FTSE 100 index edged 0.08 per cent higher to 7,286.19 points, while the domestically-focused mid-cap FTSE 250 [...]
UK flirting dangerously close with recession this year, economists warn April 26, 2022 The UK economy is flirting dangerously close with falling into recession this year as a result of inflation dealing a heavy blow to households and businesses. That’s according to a slate of gloomy forecasts from some of the City’s top economists. Elevated food, energy and core goods prices will send inflation to a peak of [...]
Historic inflation crunch swells UK interest bill to highest on record April 26, 2022 Historic high inflation has swelled the amount of money the UK government spends on servicing its debt to its largest level on record, reveals official figures released today. Britain’s debt interest bill for the year to March climbed 77 per cent over the last year to nearly £70bn in a further sign that Chancellor Rishi [...]
As house prices hit another all-time high, we need to cut bureaucracy burdening sales April 26, 2022 Yesterday, average house prices in England hit a record high for the third consecutive month, according to RightMove. They reached an average of £360,100. High buyer demand and a limited number of homes available are likely to send prices even higher. Against this backdrop, it’s about time we reconsider the way we buy and sell [...]
Amazon customers face higher prices for products as retail giant brings in fuel and inflation levy April 25, 2022 Consumers could be hit with higher prices for Amazon products, after the retail giant announced it will impose a new levy on sellers.
Britain’s biggest banks in higher interest rate profit boost as earnings season kicks off April 24, 2022 Profits at Britain’s biggest high street lenders have been boosted by the Bank of England hiking interest rates to tame historic high inflation. That’s according to top City analysts who are forecasting the UK’s largest banks to have reaped the rewards of being able to charge borrowers more for loans. A higher interest rate environment [...]
Rain Newton-Smith interview: Go for growth to turbocharge economic resilience April 22, 2022 Everyone knows the dismal time the UK economy is in for over the coming year – but let’s recap. Living standards are scheduled to fall at the steepest rate in 66 years as a result of wages failing to keep pace with an average annual inflation rate of over seven per cent, according to the [...]
Powell signals Fed will raise rates by half-point in May April 21, 2022 Jerome Powell, chairman of the Federal Reserve Bank, has confirmed his intention to act swiftly to tame soaring inflation.
UK regulators order JP Morgan to review risk management April 21, 2022 A UK regulator has instructed JP Morgan to review its approach to risk management amid a crackdown on reporting procedures of banks.
Bailey: Bank of England walking ‘tight line’ on taming inflation and hitting growth April 21, 2022 The Bank of England is walking on “a very tight line” between taming inflation and heaping greater woe on the UK economy. That’s according to Andrew Bailey, the governor of the Bank of England, who, speaking to the Peterson Institute today, added that the historic high cost of living is going to result in “very [...]