British retailers cheer Christmas sales, but City analysts warn of coming storm January 15, 2023 Britain’s largest retailers kicked off 2023 strongly last week, posting better than expected Christmas sales, signalling the consumer is holding up a bit better than feared. Tesco’s like for like sales were 7.9 per cent higher, while Marks and Spencer pocketed a 7.2 per cent rise. Sainsbury’s also posted record Christmas sales. Those bumper numbers, [...]
Why UK banks are not going to cause another financial crisis January 15, 2023 UK banks are better prepared to withstand a jump in home loan defaults, cooling fears of a repeat of the financial crisis, analysts have told City A.M. Strict affordability rules implemented after the 2008 banking crash have strengthened lenders’ loan books, meaning they are well insulated from a potential rise in defaults caused by last [...]
FTSE 100 close: ASOS and Centrica pop to crystalise strong start to 2023 January 12, 2023 London’s FTSE 100 built on gains yesterday that propelled to its highest level since 2018 after a series of British bellwether retailers posted a decent set of results this morning and the owner of British Gas skyrocketed. The capital’s premier index closed up 0.89 per cent at 7,794.04 points, while the domestically-focused, mid-cap FTSE 250 [...]
Analysis: NHS strikes are about morale, stupid January 12, 2023 As Britain braces for more strikes in the NHS later this month and ministers are locked in tense pay negotiations, 14 health unions have pulled out of independent pay review process.
Sadiq Khan hammers Hunt for slashing support for businesses grappling with sky-high energy bills January 9, 2023 Sadiq Khan has urged Hunt to reconsider its plan to drastically cut support in energy bills, fearing an uncertain future for businesses.
‘Divorce Day’: Why cash-strapped couples are looking at putting off their split amid money woes January 9, 2023 Over a third of married couples who had been considering a divorce are now opting to stay in their relationship because of the cost-of-living crisis, according to a survey. The first working Monday of the new year has been dubbed ‘Divorce Day’ by lawyers, but many couples are thinking twice before splitting from their partner [...]
Covid variant, China invasion of Taiwan and more inflation: What shocks will 2023 bring? January 8, 2023 A new Covid-19 variant that escapes vaccines is among the biggest risks threatening to sharpen the UK recession, City economists surveyed by City A.M. suspect. Asked what wildcard trends could spring up to hit the economy this year, experts warned another deadly strain of the virus spreading is one of the biggest headwinds that would [...]
CBDCs – the future of banking or an Orwellian Nightmare? January 6, 2023 Susie Violet Ward presents the case against central bank digital currencies, arguing they're a one-way ticket to trouble.
Pubs: As record number predicted to go bust in 2023 hospitality guru urges gov to lift sector from ‘the abyss’ January 6, 2023 A record number of pubs, clubs and restaurants could go to the wall this year without more support, warned a leading industry voice.
Rishi Sunak: I’ll halve inflation and get the economy growing again January 4, 2023 Rishi Sunak has pledged to halve inflation and bring down NHS waiting lists, as he set out a fresh vision for his premiership with five promises to voters. In his first major speech of 2023, the Prime Minister promised to deliver “peace of mind” to the public, even as his Government grapples with an NHS [...]