US inflation under shoot boosts London’s FTSE 100 and Wall Street August 10, 2022 City traders today were boosted by signs of inflation cooling in the world’s biggest economy sparking a rally on Wall Street. London’s premier FTSE 100 index climbed 0.25 per cent to 7,507.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged nearly two per [...]
Truss accused of U-turn as she opens up to idea of direct cost of living payments August 10, 2022 Liz Truss has been accused of performing another policy U-turn, after the Tory leadership frontrunner hinted she was open to giving households cash payments to ease the cost of living crisis. Sources on her campaign today said “there is work going on in government on what more can be done” to help people cope with [...]
US inflation cools quicker than expected in sign Fed’s rate hikes are quashing prices August 10, 2022 US inflation is cooling much quicker than experts are betting in a sign the Federal Reserve’s series of steep rate hikes are quashing price pressures. Prices climbed 8.5 per cent annually in the world’s biggest economy last month, down from a 40-year high of 9.1 per cent, the US Labor Department said today. Wall Street [...]
Apple supplier Foxconn ‘cautious’ about demand as inflations spreads August 10, 2022 Taiwanese Apple supplier Foxconn is “cautious” about upcoming demand, supply chains and operating performance, it’s chairman said today, as inflation spreads and tensions with China rise. Foxconn, also known as Hon Hai Technology Group, is one of the world’s biggest suppliers of semiconductors or computer chips. The Taiwanese tech giant hit a record half-year revenue [...]
Crypto market sentiment hits highest levels since April ahead of latest inflation figures August 10, 2022 The price of Bitcoin now seems to have firmly established itself in a narrow consolidation range in the $22,500 to $24,500 area.
Widening losses for Deliveroo while Next chair Lord Wolfson exits board August 10, 2022 Delivery platform Deliveroo has posted a heftier loss while also announcing the departure of Next chair Lord Simon Wolfson from its board. In its half-year results, the London-listed firm posted an adjusted EBITDA loss of £68m, a wider loss than the £26m posted in the first half of 2021. However, it marked an improvement of [...]
Admiral profit and share earnings halve as ‘unique’ pandemic conditions fade August 10, 2022 Insurance giant Admiral has had its pre-tax profits and share earnings halve over the past year, nearing pre-pandemic levels as the “unique” Covid-19 market conditions fade. The group’s profit before tax sunk 48 per cent to £251.3m in the six months to 30 June, in comparison with the same period in 2021. However, the figure [...]
Three in four Brits want hybrid work to cope with cost of living crisis August 10, 2022 Three in four British workers want hybrid work to cope with the cost of living crisis gripping the country. Employees want their employers to offer flexible hybrid working as inflation surges to record levels of 9.4 per cent in the country, a survey by hiring software company Greenhouse found today. As the cost of essentials [...]
Rampant inflation to put public services under ‘visible strain’ unless government ramps up spending August 10, 2022 Rampant inflation is putting the NHS and other public services “under considerable, and visible, strain,” top economic experts have warned today. Government departments and local councils are set to struggle to provide services to taxpayers due to swelling costs eating up their budgets. Higher inflation will erode more than 40 per cent of announced funding [...]
Heavy losses could spur move to private for SoftBank, analysts say August 9, 2022 Hefty losses in the portfolio of Japanese investment giant SoftBank could push its chief Masayoshi Son to delist the firm via a management buyout, analysts have suggested.