European markets tank on toxic mix of threats October 6, 2021 European markets tanked today, driven by a toxic mix of mounting “stagflation” fears, looming rate hikes and soaring energy costs. London was among the worst performers as investors mull whether the British economy could be barrelling toward a biting bout of “stagflation” that would squeeze businesses. The capital’s premier index plummeted 1.28 per cent to [...]
Supply chain epidemic leaves UK construction reeling October 6, 2021 An epidemic of raw material and worker shortages has left the UK construction industry in an almost anaemic state. A closely watched survey measuring the health of the British construction industry notched 52.6 in September, the lowest reading for eight months and down from 55.2 in August. Construction firms have struggled to progress and complete [...]
Germany after Merkel: what’s next? October 6, 2021 The Anglela Merkel era is drawing to a close in German politics. 16 years as chancellor has brought stability and steady growth, but her departure now leaves a void that her Christian Democratic union (CDU) party has struggled to fill. This weekend’s election is likely to be one of the most open contests in decades. [...]
Travel insurance cheat who tried to eat evidence among £1.1bn UK fraud cases October 6, 2021 A travel insurance cheat who tried to eat the evidence and an “accident-prone” gardener who was caught out weightlifting were among the more unusual frauds uncovered, the Association of British Insurers (ABI) said this morning. The industry body said the average general insurance fraud detected last year was for £12,000, marking a £600 increase compared [...]
Amazon to open its first physical store outside the US in the UK this morning October 6, 2021 E-commerce giant Amazon is opening its first store in the UK this morning, selling items including books, technology and toys, as the online retail behemoth continues its expansion in physical retail. The US company will open the first Amazon 4-star store outside the US on Wednesday at 10am at the Bluewater shopping centre, near Dartford [...]
PM aiming to schmooze globe’s top finance brass at green summit October 5, 2021 The chiefs of the globe’s top finance brass will attend a green summit hosted by Prime Minister Boris Johnson. The bosses of Wall Street behemoths JPMorgan and Goldman Sachs and asset manager big beasts BlackRock and Blackstone will be among those Johnson is hoping to schmooze to generate billions of pounds of investment for the [...]
Greggs share price surges ten per cent as revenues near £1.2bn October 5, 2021 Greggs has announced ambitious plans to double annual intake to £2.4bn over the next five years after the company lifted full year revenue expectations on the back of strong Q3 results. The bakery chain today revealed that like for like sales were up 3.5 per cent in Q3 compared to pre-pandemic levels with rebounding interest [...]
Shortages: Boris Johnson denies crisis exists as he calls supply chain ‘fantastic’ October 5, 2021 The Prime Minister today he is “not worried” about the staffing shortages which have played a role in petrol pumps running dry and risk a mass pig cull and shortages this Christmas. Boris Johnson played down the prospect that rising inflation rates could cancel out wage growth as he pins his long-term hopes on transitioning [...]
UK businesses jack up prices at record pace amid supply chain epidemic October 5, 2021 Businesses are jacking up prices at the fastest rate on record to cancel out soaring costs caused by endemic supply chain breakdowns. A closely watched index measuring UK services businesses’ activity hit 55.4 in September, up slightly from August’s six-month low 55. A reading above 50 indicates a majority of firms reported growth. Soaring oil [...]
Soaring oil prices fuel London markets October 5, 2021 Soaring oil prices fuelled industrial megacaps this morning, pulling London markets away from yesterday’s losses. The capital’s premier index added 0.60 per cent to reach 7,052.75 points during the first couple hours of trading today. The likes of Shell and BP were boosted this morning by oil prices reaching a seven-year high, climbing above $80 [...]