Week ahead: Inflation expectations numbers top City’s agenda December 4, 2022 Investors this week will be eyeing fresh data revealing how long households think high inflation will stick around in the UK for clues on the size of the Bank of England’s next interest rate rise. Last week, London’s premier FTSE 100 index climbed nearly one per cent to 7,556.23 points, while the domestically-focused mid-cap FTSE [...]
Zahawi: Army could be called in to ease Christmas strike disruption December 4, 2022 The army could be brought in to help with expected strike disruption over the Christmas period, Tory party chair Nadhim Zahawi has said. Zahawi said that members of the army may have to start “driving ambulances” and work on the borders as NHS staff and Border Force officers prepare to start industrial action. Many key [...]
Joe Biden to host Emmanuel Macron for White House state dinner December 1, 2022 Joe Biden will host Emmanuel Macron for a White House state banquet tonight as a part of the French President’s three-day US trip. The pair will have a four-course meal at the lavish dinner, which will come after tensions flared between Paris and Washington yesterday. Macron hit out at America’s “very aggressive” Inflation Reduction Act, [...]
Q&A: what is COP15 and why should investors care? December 1, 2022 The UN biodiversity summit COP15 is taking place in Montreal, Canada, next month. We explain why it matters. COP27, the UN climate summit, is well-known as the world’s biggest conference on climate change. But many people may be unaware of what COP15 is and why it’s important. In this quick Q&A, we look at why [...]
BrewDog gives up B-Corp social and environmental certificate December 1, 2022 BrewDog has given up its B-Corp certificate recognising its social and environmental impact because the organisation which gives it, B Lab, “requested additional measures”. The beer-maker said in an internal statement seen by City A.M., that “we have decided to step aside from our B Corp certification for the time being.” The brand it gave [...]
Pound hits highest level against US dollar since early August and posts best monthly gain since 2020 December 1, 2022 The pound has climbed to its highest level against the US dollar since early August driven by investors betting on slower interest rate rises across the pond. Sterling bounced above $1.22 and was up over 1.2 per cent against the dollar heading into late afternoon trading today. US Federal Reserve chief Jerome Powell last night [...]
Natural catastrophes to cost insurers more than $100bn for the second year in a row December 1, 2022 The global insurance sectors’ losses from natural catastrophes are set to surpass sums of $100bn (£81.5bn) for the second year in a row, new data from Swiss Re shows. Natural catastrophes will cost insurers an estimated $115bn this year, after Hurricane Ian and a series of “secondary perils” caused $260bn worth of damage in 2022, [...]
Airline industry racked up £180bn collective net loss since pandemic December 1, 2022 The airline industry has racked up a collective net loss of almost $220bn (£180bn) since the Covid pandemic began, according to recent research. Analysis published today by analytics firm Cirium shows that revenues for the world’s airline groups went down by more than 50 per cent in 2020, ending 2021 still 40 per cent below [...]
European jobs market defies expectations as unemployment hits record low December 1, 2022 The European jobs market is defying expectations and holding up well despite experts expecting the bloc to tip into a tough recession, fresh figures out today show. The proportion of people unemployed in the 19 countries using the euro dropped to a record low 6.5 per cent in October from 6.6 per cent in September, [...]
Britain’s factories already in recession on ‘lethal cocktail’ of constraints December 1, 2022 Britain’s factories are already in recession sparked by demand receding as the country’s economy slumps, a closely watched survey out today reveals. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) inched higher to 46.5 last month from 46.2 in October. Despite the slight rise, the survey remained far [...]