Bank of England to usher in new era of higher interest rates after sending them to near 15-year high today May 11, 2023 The Bank of England will rip up the monetary policy order of the last decade and keep interest rates far above their post-financial crisis rock bottom levels over the coming years, new forecasts out today claim. UK borrowing costs are on course to top four per cent for the whole of this year and next [...]
Experts blame France pipping UK to EU investment crown for second straight year on Brexit May 11, 2023 Experts have today partially blamed post-Brexit uncertainty for helping France pip the UK to Europe’s investment hub crown for the second year in a row. The UK was home to 15.6 per cent, or 929, of all European foreign direct investment (FDI) projects last year, down from 16.9 per cent in 2021, according to consultancy [...]
The Notebook: James Ashton on his new book, microchips and bullishness May 11, 2023 Book-writing novices need know one thing before putting metaphorical pen to paper: submitting that manuscript after months of toil is far from a full stop.
Virgin Atlantic hits out at Heathrow ‘failings’ as high costs delay post-pandemic recovery May 10, 2023 Virgin Atlantic said today that challenges surrounding last years passenger cap at Heathrow and ongoing economic uncertainty affected its final year results, with the airline not expecting to return to profit in 2023. In its 2022 full year results, the airline highlighted “industry wide challenges,” such as July’s 100,000 passenger limit introduced at Heathrow and [...]
FTSE 100 close: ASOS shares nosedive 22 per cent after posting dim results May 10, 2023 London’s FTSE 100 slipped in the City today as online fashion retailer ASOS was pummelled after a dim set of results. The capital’s premier index shed 0.29 per cent to close at 7,741.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]
Supermarkets do butter to ease soaring prices for shoppers May 10, 2023 The price of a slice of toast with butter is about to get cheaper as some of the UK’s biggest supermarkets have slashed the price of the kitchen staples following criticism over high prices. Sainsbury’s said that as commodity prices started to fall on wheat and butter, it is now able to reduce the price [...]
US inflation falls faster than expected to 4.9 per cent, raising chances of Fed rate hike pause May 10, 2023 US inflation fell faster than expected last month, potentially paving the way for the Federal Reserve to pause its aggressive interest rate hike campaign at its meeting next month, official figures unveiled today unveiled. The rate of price increases in the world’s largest economy slipped to 4.9 per cent in April, down from five per [...]
Crypto markets shuffle sideways as traders cautiously await CPI figures May 10, 2023 The price of Bitcoin is holding steady above $27.500 today while Ethereum is trading around $1,840 as investors wait for CPI numbers.
Cleverly talks down hopes of US trade deal on Washington trip May 10, 2023 Foreign secretary James Cleverly has talked down hopes of a UK-US trade deal during a visit to Washington DC. Speaking in the US on Tuesday, Cleverly said the government was not “prioritising” a free trade agreement (FTA) but aiming for “real economic coordination” with the superpower. His comments came at a press conference with US [...]
Wetherspoon on track for ‘record’ year as budget boozer shrugs off inflation woes May 10, 2023 JD Wetherspoon is expecting a “record” high in sales this year as the budget pub chain shrugs off inflationary and supply chain woes, sending its shares – with the company’s shares soaring over seven per cent when markets opened this morning. The London-listed boozer said that sales during the Easter week were the highest-ever for [...]