Evergrande leaves more creditors empty handed October 12, 2021 Creditors to heavily indebted Chinese property giant Evergrande have not received around $150m in debt repayments that were due on Monday. The latest round of repayment miss was the third in as many weeks, increasing the likelihood that Evergrande will collapse soon. Evergrande has an October 18-19 debt payment deadline that will push into official [...]
Perpetual debt is already here October 12, 2021 “Be still indebted to somebody or other, that there may be somebody always to pray for you, [. . .] fearing, if fortune should deal crossly with you, that it might be his chance to come short of being paid by you.” François Rabelais, Gargantua and Pantagruel, Book III Pundits worldwide are debating what to do with [...]
Wednesday’s GDP figures will remind Brits of sunnier economic times October 12, 2021 The economic mood at the moment is not upbeat. Households are facing an acute cost of living crisis, businesses are warning of shortages at Christmas, inflation is likely to run hotter and for longer than the Bank of England initially expected. Doom and gloom. However, on Wednesday, positivity will be partly revived as the Office [...]
Unemployment drops by 0.4 per cent to 4.5 per cent October 12, 2021 The number of UK workers on payrolls rose by 207,000 between August and September to a record 29.2m, returning to levels seen before the pandemic struck, the Office for National Statistics (ONS) said. The unemployment rate in the UK shrank 0.4 per cent to 4.5 per cent. Though unemployment fell, the number of job vacancies [...]
Today: UK unemployment set to fall as rate hike bets increase October 12, 2021 European markets got off to a mixed start yesterday, while US markets, after initially looking in good shape, rolled over into the close to finish on the lows of the day. While investors want to believe the narrative that stock markets can continue to move higher, this belief is bumping up against the reality of how [...]
Moratoriums on facial recognition will do little to stem the tide of surveillance October 12, 2021 In August this year, Sophie Linden, London’s Deputy Mayor for Policing and Crime, approved a £3m contract for the development of retrospective facial recognition. This investment will bolster the Metropolitan Police Department’s surveillance capabilities and enable authorities to “exploit investigative opportunities.” But legal experts view this technology as a form of exploitation which erodes freedoms, [...]
Looming cost of living crisis pinches Brits’ confidence in finances October 12, 2021 The spectre of inflation is acutely impacing Brits’ confidence in the health of their finances. Nine in 10 households are worried about their finances, found research by Barclaycard. Brits across the country are facing a severe cost of living crisis caused by soaring energy prices, wider inflation and looming tax hikes, which is weighing down [...]
Exclusive: Meet the UK’s 50 fastest-growing startups October 12, 2021 A total 50 of the most promising high-growth tech firms in the UK have been named as the country’s top scaleup companies by tech group Silicon Valley Comes to the UK (SVC2UK). Smart employee app Blink, charity fundraiser Enthuse, and digital health platform supporting under-served areas of healthcare, Pepp, were among the firms selected for [...]
ASOS chief executive Nick Beighton steps down with immediate effect October 11, 2021 ASOS chief executive Nick Beighton is stepping down with immediate effect, the company just confirmed. “A search for his successor will begin shortly,” ASOS said in a statement. In the meantime, Mat Dunn, currently Chief Financial Officer, will become COO of ASOS and lead the business on a day-to-day basis with effect from today. Katy Mecklenburgh, currently [...]
On a charge or out of juice – can EV charging infrastructure keep up with demand? October 11, 2021 One of the most notable trends of the past 18 months has been soaring demand for electric vehicles (EVs). This is particularly the case in Europe, where the share of EVs as a percentage of overall car registrations has grown to almost 10% (chart 1). Other geographies are also now showing renewed signs of strength, [...]