Aramco boss blames Europe for energy supply crisis this winter September 20, 2022 Europe's plans to cap bills for consumers is not a long-term helpful solutions o the global energy crisis, argued Aramco boss Amin Nasser.
German business costs accelerate at quickest pace on record September 20, 2022 German business costs have soared at the fastest rate ever in a sign that more financial woe is set to be heaped on consumers. Input prices, known as the producer price index, surged 45.8 per cent last month, according to Germany’s statistics agency. The record jump was driven by a near tripling in electricity prices. [...]
Exclusive: ‘Covid papered over many cracks which gave firms a false positive’, warns Leonard Curtis CEO September 20, 2022 City A.M. reported recently that millions of people across the UK are now struggling to make ends meet, with only one in ten saying they don’t have any financial concerns. And it’s not just individuals that are struggling: Rising bills are the biggest worry for UK businesses, with many concerned about the spiralling cost of [...]
Multi-billion FTSE newcomer Haleon shows there is life after GSK September 20, 2022 The owner of popular health products such as Sensodyne and Panadol said this a.m. its revenues have jumped up by more than 13 per cent, to a record £5.2bn, during the first half of the year. Healthcare giant Haleon further reported a double-digit hike in profits in the group’s first-ever set of company results since [...]
Train drivers at 12 firms including London Overground will strike on 1 and 5 October September 20, 2022 Train drivers at 12 key operating firms will walk out on 1 and 5 October after ASLEF union confirmed members backed a strike today. Industrial action for two weeks time was confirmed for the first week of October, after being delayed due to the Queen’s death and funeral. ASLEF, which represents 96 per cent of [...]
1 in 3 high street businesses miss out on rates relief September 20, 2022 The Government failed to support a third of high street businesses in England promised a discount on their business rates bills, according to new data. Property specialists at Gerald Eve found that just 272,000 out of a promised 400,000 retailers, leisure and hospitality venues were able to claim a 50% discount on the commercial property tax announced [...]
US dollar this year has become the only asset in town September 20, 2022 Investors have had an insatiable appetite for US dollars this year. According to the Wall Street Journal’s dollar index, which measures the greenback against a basket of some of the world’s top currencies, the dollar is its strongest for over a decade. One dollar will buy you the greatest amount of Japanese yen since the [...]
Federal Reserve and Bank of England set to tighten policy once again this week September 19, 2022 The US Federal Reserve and the Bank of England this week are set to hike interest rates steeply again in a bid to chase down scorching inflation, investors are betting. The two central banks are expected to look through recession fears and continue their fight against historic price rises. Despite inflation dropping to 8.3 per [...]
City braces for BoE rate hike and mini-budget September 19, 2022 The City is bracing for a bumper week of economic data and policy announcements in a trading week shortened by the UK bank holiday for The Queen’s funeral. London’s premier FTSE 100 index posted mixed performance last week, initially jumping higher before closing 1.56 per cent lower at 7,236.68 points. Its mid-cap domestically-focused counterpart, the [...]
Will the UK lead the way in embracing crypto assets and blockchain? September 17, 2022 Sean Kiernan discusses the challenge of finding a balance between regulation and opportunity for the UK and crypto.