Steep losses looming: Made.com warns job cuts are coming to slash costs after dive in consumer spending July 19, 2022 Made.com said this morning it has launched a review its workforce amid efforts to slash costs as a slump in consumer spending is set to send it tumbling to steep losses. The group said it is looking at its operational structure and headcount, as well as improvements to stock buying and warehousing to try to [...]
Calls grow to pause benefits sanctions until merciless cost-of-living crisis has calmed down July 14, 2022 Benefits sanctions should be paused by the UK government until the cost-of-living crisis has been resolved, Citizens Advice Scotland has said. Advice from the charity on sanctions to Universal Credit rose by 5 per cent in 2021-22, research published today indicated. With inflation rising and impacting on the cost of goods, Citizens Advice said a [...]
Airlines lift off helps FTSE 100 reverse early losses July 12, 2022 London markets whipsawed today as a rally among airline stocks outweighed recession fears. The capital’s premier FTSE 100 index jumped 0.18 per cent to drop to 7,209.86 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, added 0.1 per cent to close at 18,854.96 points. [...]
Euro kisses parity with US dollar for first time in two decades July 12, 2022 The euro kissed parity with the US dollar for the first time in 20 years today. Fears of the Continent tipping into recession have strengthened recently due to bets that Russian president Vladimir Putin will choke energy supplies to the bloc. The currency used by 19 countries – soon to be 20 when Croatia adopts [...]
Markets have bigger things to worry about than a change in Number 10 July 12, 2022 Markets tend to be one step ahead of everyone else. Investors are always trying to identify new risks and limit their exposure to events that hurt stock markets. That forward-looking ethos probably explains why they ignored the upheaval in Number 10 last week. Boris Johnson’s position has looked wobbly for a while. Investors priced in [...]
It’s time for the crypto world to get over FUD and FOMO July 12, 2022 Fear, uncertainty and doubt have overtaken the primal fear of missing out, says AAX's research and strategy chief Ben Caselin.
Exclusive: ESG funds slump behind peers as energy and defence stocks bolstered by war July 12, 2022 Environmental, social and governance (ESG) funds in the UK have slumped below their industry peers this year as oil & gas, mining and defence stocks surge in the wake of war in Ukraine, new research has revealed.
Currys commits to price freeze as full year profits jump July 7, 2022 Electrical retailer Currys committed to a price freeze on dozens of products today as it reported a jump in profits to £126m for the full year.
Exclusive: Energy efficiency measures sorely missed from security bill, says Good Energy boss July 6, 2022 The Government has failed to include key measures which could provide significant help for households in its Energy Security Bill says Good Energy.
Pound still at lowest level since start of pandemic amid government chaos July 6, 2022 The British pound is at its lowest level since the start of the Covid pandemic in March 2020 as the UK government faces a political crisis. The pound has slid 0.6% today to $1.1883 as a wave of ministers resigned from Boris Johnson’s government. Sterling initially dropped more than a cent to below $1.20 for [...]