Sigh of relief in Britain’s automotive space as new car market stabilises after months of decline September 5, 2022 New figures show this morning that months of decline in the new car market has come to a halt. Registrations of new cars increased by 1.2 per cent last month compared with August 2021, according to the Society of Motor Manufacturers and Traders (SMMT). Some 68,858 new cars were registered in the first monthly growth [...]
This week: Housebuilding space to come under spotlight with key players revealing results September 5, 2022 Investors will get a good idea of how the housing market is faring with a trio of leading housebuilders unveiling financial results this week. Barratt Developments, Berkeley Group and Vistry are all set to update shareholders on their performance amid reports the housing sector is losing steam. London-listed housebuilding giants Barratt, Berkeley, Persimmon and Taylor [...]
Britain is being failed by a lumbering digital state September 5, 2022 If you’re struggling to heat your home, how would you feel if you just missed out on £1,467 because of a computer glitch? In May this year, Rishi Sunak was blocked from raising benefits in line with inflation. The culprit? A 40-year-old IT system unable to process more than one benefit rise a year. Ineffective [...]
Truss appears to soften Bank of England independence stance September 4, 2022 Liz Truss appeared to soften her stance on the Bank of England’s level of independence today as the Tory party prepares to crown a new leader and Prime Minister. Truss, the presumptive next Prime Minister, said she was a “great believer” in the Bank of England’s independence and that she would not “countermand to the [...]
Central banks highlight week ahead on global stage September 4, 2022 Central banks will yet again be closely watched this week, with policymakers right across the world still attempting to get a handle on out of control inflation pressures. This week will see Aussie chief Philip Lowe announce what markets expect to be a further rate rise, up north of 2 per cent. Then on Wednesday, [...]
Shipping titan CMA CGM creates £1.3bn fund to accelerate net-zero September 4, 2022 Shipping titan CMA CGM has created a $1.5bn (£1.3bn) energy fund to accelerate its transition to net-zero. “In the face of the climate emergency it is our duty to do more and accelerate our actions,” said chief executive Rodolphe Saade. The five-year fund will support the industrial production of renewable fuels as well as low-emission [...]
Matalan eyes up sale as British retailers continue to feel sting September 4, 2022 Matalan's founders are eyeing up a sale, as the fashion firm struggles to fight off inflationary pressure.
Sunday Sitdown: Grind’s CEO on conquering America with his cult coffee chain September 4, 2022 Londoners may recognise the Grind coffee brand. There are currently eight branches around the capital and a 15,000 sq ft roastery in Bermondsey. Despite a hit to cafe revenues during the pandemic, the company is taking its business model across the pond as City A.M. can reveal today Grind has ambitious plans to conquer the [...]
Weekend Read: As the Pound crashes to record low, what can be done to halt Sterling’s freefall? September 4, 2022 City A.M. reported yesterday that the pound is on course to plunge to a record low against the US dollar, largely driven by the UK tumbling into a tough recession. Sterling is expected to drop to $1.05 by the middle of next year, but could fall close to parity with the greenback, according to consultancy [...]
The crypto autumn brings storms to the eternal fiat winter September 2, 2022 Crypto AM's Monty Munford is basking in the crypto glow from the sun of York as he predicts a dark winter for fiat.