Inflation surge pushes UK economy to edge of stagnation August 23, 2022 Brits reining in spending amid a historic inflation surge has steered the UK economy to the edge of “stagnation,” a closely watched survey released today shows. S&P Global’s flash composite purchasing managers’ index (PMI), which measures activity across the private sector, dropped to 50.9 this month, down from 52.1 in July. The figures indicate “the [...]
Navigating systemic risks: Ukraine, climate and crypto August 23, 2022 “You cannot anticipate exactly how these risks or dangers are going to play out… But we should be pretty assertive in insisting that we need certain principles, including enough capital buffers — that is, equity unencumbered by any kind of contingent debt or anything like that — that can really withstand shocks in the core [...]
Elizabeth line: Direct services from Reading and Heathrow to central London will begin in November August 23, 2022 Businesses have welcomed the integration of Elizabeth line services from Heathrow, Reading and Shenfield from 6 November. “The upgraded services will be greatly welcomed by businesses across the Capital that rely on footfall more than ever before to help them navigate their recovery from Covid, cost of living pressures and rising inflation,” said Ruth Duston, [...]
Interest rate speculation leaves Bitcoin investors spooked August 23, 2022 The price of Bitcoin continues to hold above $21k this morning, roughly flat over the past 24 hours at around $21,180.
Letters: Mind the gap – if you can see it August 23, 2022 [Re: To attract and retain the best talent, the Square Mile must break down class barriers, yesterday] The diverse make-up of the candidates who stood for the leadership of the Conservative Party leadership should be a cause for celebration. But while the likes of Sunak et al. are reaching the summit of their professions, the [...]
Utilita Energy boss calls on the UK government to freeze the energy price cap August 22, 2022 The boss of Utilita Energy has called on the UK government to freeze the energy price cap to help support millions of households and firms this winter. Boss Bill Bullen has written to Kwasi Kwarteng calling for the urgent intervention to protect businesses and consumers faced with skyrocketing energy bills, and to stop energy prices [...]
Starmer looks Down Under to Australian Labor for election blueprint August 22, 2022 David Milliband once said only politically “brilliant” leaders can win elections from the centre-left in Western countries. He was referring to the type of once in a generation progressive politicians – like Sir Tony Blair, Barack Obama, Bill Clinton and Harold Wilson – who swept to electoral victories on the back of their stunning personal [...]
Inflation fears return to haunt FTSE 100 as City eyes Jackson Hole August 22, 2022 London markets today started the week in risk-off fashion as investors brace for the annual meeting of central bankers at Jackson Hole and fretted over high inflation. The capital’s premier FTSE 100 index dropped 0.22 per cent to 7,533.79 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Ackman’s Pershing Square Holdings falls to loss in ‘challenging’ year August 22, 2022 Shares in Bill Ackman’s London-listed Pershing Square Holdings fell today after the firm revealed its investments slid in value by 26 per cent in a “challenging” first half of the year.
UK supply chain under control despite strike, says port trade body August 22, 2022 Port trade body UK Major Ports Group said that, despite the ongoing eight-day strike at Felixstowe, the UK supply chain remains under control. Tim Morris, chief executive of UK Major Ports Group, told City A.M. that the impact on end consumers “might be less and more spread out than some people might think” as supply [...]