‘Isolated status’ of Hong Kong pushes half of European firms to consider their exit March 25, 2022 Hong Kong’s pandemic-induced “isolated status” has pushed half of European businesses in the financial hub to consider packing up their bags, according to a new report. With firms unable to keep hold of staff, the city’s “ongoing ‘Zero-Covid’ strategy has come at a very high cost for Hong Kong’s business community,” the European Chamber of [...]
Sunak wants to be a low-tax Tory but instead he’s following the US and picking winners March 25, 2022 When Frank Sinatra first uttered the words “the best is yet to come”, the UK’s fiscal strategy probably couldn’t have been further from his mind. But the words ring true after a spring statement that did little to make life any easier for those of us who make a living trying to read the Chancellor’s [...]
The City View: More Spring Statement analysis, and The Macallan’s Master Whisky Maker distills her craft March 24, 2022 Today Andy Silvester chats to Economics and Markets reporter Jack Barnett — they look back on yesterday’s Spring Statement; go through dire IFS figures; and discuss lack of growth in the UK economy. Andy also takes us through the business news: P&O are in even more hot water; and the CEO of convenience store operator [...]
Rishi Sunak has shown his true colours by hiding stealth tax rises in the detail March 24, 2022 Don’t be fooled, Rishi Sunak is a fiscal conservative first, and a low-tax conservative second. This was a tax-cutting spring statement, but as the Office Budget Responsibility (OBR) pointed out, on balance Sunak has been a tax-hiking Chancellor. In fact, the net cut to personal taxes introduced at the Spring Statement offsets “just over a [...]
Cost of living squeeze already biting UK economy as experts warn worst is still to come March 24, 2022 The damage the cost of living squeeze is inflicting on UK households is already starting to weigh on the economy as top forecasters warn the worst effects of spiralling living standards are yet to come. A fresh flurry of data released today revealed consumers are slashing spending to alleviate pressure on their finances caused by [...]
Letters: Back into the fray March 24, 2022 [Re: Sanctioned Russian bank to vote in City of London Corporation election tomorrow, yesterday] Your article ‘Sanctioned Russian bank to vote in City of London Corporation election tomorrow’ is factually wrong and irresponsible journalism. It is individual workers rather than companies or organisations who are entitled to vote in the City of London elections. Any [...]
Britain’s birth rates put our economy at risk and men need to see the real problem March 24, 2022 This year, the ONS announced that for the first time, half of UK women were childless by their 30th birthday. As women leave it later and later to have children, the Great Baby Bust spells trouble for the UK. An ageing society brings serious problems, from falling standards of living to a slower rate of [...]
1 Minute Market Rundown – 24th March 2022 March 24, 2022 Russia – UkraineYields in focusCrypto consolidates Rates markets continue to dominate proceedings with yields continuing to push higher but risk is holding in rather well. Looking across equities and crypto it feels like the dips are getting shallower and we are putting in higher lows. We have been saying crypto has been quietly bid and [...]
Fresh 30-year high inflation print wobbles London investors March 23, 2022 A fresh 30-year high UK inflation print wobbled London’s top indexes today. The capital’s premier FTSE 100 index dipped 0.22 per cent to 7,460.63 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.53 per cent to 21,001.62 points. Fresh data released today by [...]
£5bn investment turnover for central London office market since start of 2022 March 23, 2022 Central London’s office market has marked £5bn investment turnover since the start of the year, as confidence in the category returns. Property advisors Knight Frank have revealed a 300 per cent increase in comparison to the first quarter of 2021 when there were transactions worth £1.2bn. There are £5.8bn worth of central London office deals [...]