Stagflation fears bite back to weigh on London markets June 8, 2022 Growing concerns over soaring prices triggering a period of stalling global economic growth dragged on London’s top indexes today. The capital’s premier FTSE 100 index dipped 0.08 per cent to 7,593 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped 0.43 per cent to [...]
Bitcoin price rises ahead of key inflation data June 6, 2022 The price of Bitcoin is currently $31,247 - an increase of around five per cent over the past 24 hours and two per cent since last week.
Businesses warn inflation and supply chain crisis could be worse than impact of Covid-19 June 5, 2022 THE BUSINESSES at the backbone of the UK economy are increasingly worried inflation and supply chain issues will be more damaging to their prospects than the Covid-19 pandemic was, according to a closely watched sentiment tracker. Accountants BDO’s survey of medium-sized businesses suggests economic headwinds are squeezing both margins and wages – with tax hikes [...]
Boris Johnson will be a slave to U-turns until he discovers the art of policy flexibility May 31, 2022 It is not easy for a party to run the country for twelve years, so have some pity on the Conservative Party. Perhaps it was in response to the absolute dearth of ideas ranging from “getting a better paid job” to shopping “own-brand products” that Rishi Sunak finally capitulated and delivered a mini-budget last week [...]
Competition watchdog warns of pastry price rises amid Jus-Rol and Cérélia merger May 30, 2022 The competition watchdog has raised concerns that a merger between two bake-at-home dough producers could lead to higher prices of pastries. The Competition and Market Authority’s (CMA) said it was concerned about a merger between Jus-Rol and Cérélia, with fears prices would rise while the quality of products could suffer. After the deal, Paris-based Cérélia [...]
Loan sharks will keep circling victims unless the lending industry embraces change May 30, 2022 As many as 1.08 million people could be borrowing from an illegal money lender – a loan shark – according to a recent Centre for Social Justice report. Loan sharks take many forms, from community-based lenders operating in estates to fully-fledged organised crime groups seeking out the most vulnerable. They use pester power, intimidation and [...]
Oxford Street footfall still 52 per cent lower than pre-pandemic, making it the UK’s worst hit High Street May 27, 2022 Footfall on London’s Oxford Street is still 52 per cent lower than pre-pandemic levels – the worst hit high street across the UK, according to fresh retail data shared with City A.M. this morning. London continues to be impacted by hybrid working and less commuting into the city than previous years, as well as the [...]
Buy-now pay-later payments surge to $120bn after e-commerce take-up May 26, 2022 Payments via buy-now pay-later products (BNPL) rocketed to $120bn last year after a surge in adoption by e-commerce giants like Amazon and Shopify, fresh data has revealed.
Govt warned cost of living crisis will lead to ‘tsunami of fraud’ as criminals prey on struggling Brits May 26, 2022 THE cost of living crisis is likely to fuel a surge in fraud and online scams, a property group warned this morning. The National Association of Property Buyers fear criminals will aim to “cash in” on vulnerable Britons looking to save or make money over coming months. The property sector will be a prime target [...]
Winter of discontent: Price cap to peak at over £2,800 next January May 26, 2022 Cornwall Insight has warned the price cap could rise to over £2,800 per year in January if the mechanism moves to a quarterly model.