US inflation to take centre stage after bumper jobs report October 6, 2024 Economists expect the headline rate to fall to 2.3 per cent from 2.5 per cent, which would leave inflation at its lowest level since February 2021.
Wall Street claws back week’s losses thanks to strong jobs report October 5, 2024 US stocks rallied on Friday after a surprisingly strong report on the US job market raised optimism about the economy. The S&P 500 climbed 0.9 per cent and got close to its all-time high set on Monday. The Dow Jones Industrial Average rose 341 points, or 0.8 per cent, to set its own record, while [...]
Pound sterling set for worst week all year as markets reassess path for interest rates October 4, 2024 The decrease has knocked sterling from its remarkably strong start to the year, which has seen it outperform all other major currencies.
Bottega Veneta returns to the black amid interest rate and inflation woes October 4, 2024 The UK arm of Italian luxury fashion house Bottega Veneta returned to the black in 2023 despite the cot-of-living crisis cutting into its sales. The West Sussex-headquartered division has posted a pre-tax profit of £336,007 for its latest financial year, according to newly-filed accounts with Companies House. The total comes after the business reported a pre-tax [...]
US economy remains in rude health as jobs growth surpasses expectations October 4, 2024 The US economy shrugged off any suggestion that it was on the cusp of a major downturn with a jobs report that blew past all estimates. New figures showed that the US economy added 254,000 jobs in September, well ahead of the 150,000 expected by economists and a big acceleration on last month’s figure of [...]
Bank of England’s Huw Pill: ‘Ample reason for caution’ on interest rates October 4, 2024 Huw Pill, chief economist at the Bank of England, called for a “gradual” approach to cutting interest rates, citing continued concerns about the potential upside risks to the inflationary outlook. In a speech this morning Pill said there was “ample reason for caution” when assessing the dissipation of inflationary persistence. “While further cuts in Bank [...]
Tim Martin warns against pub crackdown as JD Wetherspoon smashes profit expectations October 4, 2024 Profit at JD Wetherspoon over the last year exceeded even the high expectations from the market, bringing in £73.9m of pre-tax profit, compared to expectations of £72m. The chain of pubs reported it had made more than £2bn in sales over the year to the end of July, an eight per cent increase from last [...]
Not ‘much to be optimistic about’ in London rental market October 3, 2024 Pressure on the rental market continues to build this autumn despite a cooling market earlier in spring, with more landlords selling up and more tenants looking for short-term homes, according to fresh data. More than three-quarters of agents have seen an increase in the number of tenants searching for properties, while more than half of [...]
Bank of England survey suggests progress on inflation might be slowing October 3, 2024 The Bank's own decision maker panel (DMP), which surveys business leaders around the country, showed that wage and price pressures were more stubborn than anticipated last month.
Services inflation falls to lowest level since February 2021, survey suggests October 3, 2024 The survey noted that "competitive pressures continued to limit pricing power," which helped to contain inflationary pressures.