Golden opportunity: Worried investors drive the rally February 22, 2022 Gold prices have rebounded this month, with the precious metal glittering in the gloom amid escalating tensions between Russia and the West.
Factory prices set to accelerate at fastest rate since mid-1970s as inflationary pressures bulge February 22, 2022 Factory prices are set to soar at their fastest pace since the mid 1970s as inflationary pressures in the UK economy dial up, according to a closely watched survey published today. A net balance of 77 per cent of British manufacturers intend to hike prices over the next three months, according to a survey by [...]
Government interest bill hits highest ever level for a January February 22, 2022 The government’s interest bill swelled to its level ever for a January since records began in the late 1990s as inflation burns a hole in the UK’s public finances. The amount the government spent on servicing its debt hit £6.1bn last month, up £4.5bn over the last year, according to the Office for National Statistics [...]
Exclusive: UK’s leading fintech bosses call on government to ramp up efforts to overhaul regulation February 21, 2022 A group of the UK’s leading fintech bosses have called on the Government to ramp up efforts to overhaul regulation and build a world-leading environment for the sector, in a letter seen exclusively by City A.M. Bosses at over 70 of the biggest fintech firms in the UK, including digital banks Monzo and Starling, payments [...]
Scrapping of Plan B curbs turbocharges UK services economy February 21, 2022 The British economy appears to be weathering the cost of living storm as the drag on businesses and households from pandemic curbs peters out. The scrapping of Plan B restrictions prompted Brits to pour back to high streets, pubs, bars and restaurants, lifting output in the services economy to an eight month high of 60.8 [...]
Homebuyers flood back to London amid return to office February 21, 2022 Movers are flocking back to London as the spectre of the Covid-19 crisis over the capital’s housing market fades away, reveals fresh figures published today. The scrapping of restrictions on daily life to curb infections and the return to the office is driving homebuyers to put London back at the top of their desired locations. [...]
More banker bonuses on the way this week February 21, 2022 Big banker bonuses are back on the table amid a robust rebound in lenders’ profits, annual results are expected to reveal this week. The City is expecting Barclays, which publishes finals on Wednesday, to register a £8.1bn profit haul, up sharply from £3.1bn in 2020 when the pandemic sent the banking sector spiralling. Investors will [...]
We must end our dependency on Russia’s gas and embrace renewable opportunities February 18, 2022 Our energy bills are up by 54 per cent this year. It’s not just gas – the cost of fuel, food, and furniture is ticking up too. The Bank of England now expects inflation to surge past 7 per cent by the end of this year. That’s going to price many of us out of [...]
Entrenched supply crunch stoking inflation risks throttling global economy, IMF warns February 17, 2022 Supply chain breakdowns stoking inflation are inflicting “harm” on the global recovery from the Covid-19 crisis, the world’s economic watchdog warned today. Swelling costs fuelled by choking supply bottlenecks pose a serious risk to derailing the economic rebound by cutting households’ spending power, the International Monetary Fund (IMF) has warned. Central banks launching a rapid [...]
Andrew Bailey fell asleep on inflation and now it is workers who will face the flames February 17, 2022 Is there a comfortable chaise longue in the office of Andrew Bailey, Governor of the Bank of England? I think we should be told. Because it has become apparent that the Bank has been asleep on the job. In the year to December 2021, consumer prices rose by 5.4 per cent. We have to go [...]