The City View: Victoria Scholar on rising prices, unemployment and retail sales data; and XR cause Lloyd’s of London HQ shutdown April 12, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through some of the week’s economics data on GDP, unemployment, retail sales, and talk trading updates. They discuss the latest from ASOS, Deliveroo, and EasyJet: ASOS is facing a raft of headwinds, as investors lose confidence in the online retailer; [...]
35 per cent of Brits admit bulk buying amid war and inflation shortage fears, report claims April 12, 2022 Warnings have been made against claims of stockpiling food after a report claimed 35 per cent have bulk bought items recently. Consumers are reportedly purchasing items in scenes reminiscent of the start of the pandemic, amid concerns about falling production for items such as wheat and oil, impacted by the war in Ukraine. Items such [...]
The City View: Sluggish UK economic growth, and Heathrow flying high April 11, 2022 Today Andy Silvester talks to City A.M.’s Economics and Markets reporter Jack Barnett. They go through lacklustre UK economic growth figures and why the cost-of-living crisis will hinder said growth; the latest inflation figures; the global economic recovery; and economic uncertainty to come. Andy also goes through the news: Heathrow has marked its highest number [...]
Labour calls on PM to confirm no other ministers have ever been a non-dom April 11, 2022 Labour has called on Boris Johnson to confirm none of his other ministers have ever had non-domiciled tax status or are making use of tax loopholes in the wake of revelations about Rishi Sunak’s family. Labour leader Sir Keir Starmer today said the Prime Minister “needs to bring this saga to a close and confirm that [...]
Russian invasion to nearly halve size of Ukraine economy April 11, 2022 Russia’s brutal invasion of Ukraine is set to deal the country a seismic economic shock alongside triggering a humanitarian crisis, reveals official forecasts published today. The Ukrainian economy will shrink to nearly half the size it was last year as a result of the Kremlin’s war, with GDP dropping just over 45 per cent, according [...]
UK economy ambles into period of sluggish growth April 11, 2022 The UK economy has entered what is expected to be a protracted period of sluggish growth, official figures released today reveal. The early signs of inflation and tax hikes dealing a heavy blow to Brits’ spending are emerging in new GDP figures published by the Office for National Statistics (ONS) today. The economy grew just [...]
Letters: Steer clear of risky debt April 11, 2022 [Re: Shoppers turn to buy now, pay later amid cost of living crunch, March 21] Buy now pay later is quickly changing the face of consumer finance. If used in the right way, the benefits it can bring to consumers are enormous. But – and it is a big “but” – this is no ordinary [...]
Explainer-in-brief: Energy strategy won’t push prices down for years to come April 11, 2022 When asked about the effect the newly unveiled energy strategy would have on prices, business secretary Kwasi Kwarteng replied“the impact could be very soon”. By very soon, he specified, he meant three or four years. Now, we know a transition to sustainable energy produced here takes time. No government could simply do some magic and [...]
We need green jobs to build bridges between net zero and the cost of living crisis April 11, 2022 London urgently needs a larger specialist workforce to decarbonise its commercial buildings and meet net zero targets. And there is growing evidence that employees in the capital’s built environment industry itself believe that the sector’s workforce lacks the skills required to achieve the UK’s ambitious climate goals. With concern over a widening “green skills gap”, [...]
National insurance hike sparks wave of job cuts April 11, 2022 Businesses have unleashed a wave of job cuts to cope with being hit by the national insurance hike, reveals fresh research released today. The pipeline of redundancies has taken off in the last month alone, triggered by firms scrambling to protect their bottom lines ahead of a series of damaging tax rises. The number of [...]