Wall Street suffers more pain at end of worst week in six months September 23, 2023 Wall Street wheezed to more losses on Friday as it limped to the end of its worst week in six months. The S&P 500 slipped 9.94 points, or 0.2%, to 4,320.06 after a late-day swoon erased a modest gain it had held for most of the day. It capped an ugly slide caused by Wall [...]
Former Tory PMs hit back at ‘desperate’ move to ditch HS2 to Manchester September 23, 2023 Former premiers have warned Rishi Sunak about “delivering a mutilated HS2” after his Conservative Government refused to deny it was considering axing the Manchester leg. Boris Johnson said suggestions the Birmingham to Manchester route could be chopped over cost concerns were “desperate” and “Treasury-driven nonsense” as he urged the Prime Minister to deliver on the [...]
Gazumping and you: How to avoid being gazumped on your dream home September 22, 2023 Moving house is rated as one of the top three stressful events in life, alongside death and divorce, heaven forbid. Just when you thought it couldn’t get any worse, along trundles the devilish duo of gazumping and gazundering. Derived from the Yiddish word “gazumph” (to overcharge or cheat) these twin horsemen of the property apocalypse [...]
Pound falls to six month low against dollar – and there’s worse to come September 22, 2023 Since mid July, when sterling was worth $1.31, the pound has steadily fallen against the dollar and was trading around $1.2260 today.
Retailers put all their chips on inflation cooling during golden Christmas run-up September 22, 2023 A better than expected inflation reading, and growing consumer confidence and sales, have offered a glimmer of hope for the UK’s retail sector, as they turn their focus to the vital Christmas trading months. According to today’s ONS figures, retail sales volumes rose by 0.4 per cent in August 2023, partially recovering from a fall [...]
Manufacturing downturn continues as firms warn selling prices will creep up September 22, 2023 Output fell in nine out of 17 sub-sectors in the three months to September, with particularly sharp declines in transport equipment, chemicals and paper.
Bitcoin hash rate accelerating, and crypto is welcoming a change in the energy narrative September 22, 2023 Jason Deane takes the racing gloves off to get a finger on the pulse of the crypto industry over a week of contrasting narratives.
FTSE 100 close: London climbs on softer pound after Bank of England holds rates September 22, 2023 London's blue-chip FTSE 100 index rose on Friday as it benefited from the weak pound in the wake of the Bank of England's decision to hold interest rates steady.
‘Recession increasingly likely’ as business output drops sharply under weight of higher interest rates September 22, 2023 A steep downturn in services saw economic activity contract at its fastest pace since the financial crisis – outside of the pandemic – raising the chances of a recession, a closely watched survey suggested. S&P Global’s Purchasing Managers’ Index (PMI) for the UK economy came in at 46.8 – far below the 50 reading which [...]
Jeremy Hunt: Tax cuts ‘virtually impossible’ until economy improves September 22, 2023 Chancellor Jeremy Hunt has shot down suggestions of tax cuts after a string of economic updates this week, saying they’re “virtually impossible” until there’s more improvement. Speaking on LBC this morning, the chancellor responded to suggestions that falling inflation and rates being held yesterday, may give headroom to ease the burden on cash-strapped Brits this [...]