Soft earnings weigh on London’s FTSE 100 as IWG slumps 12 per cent August 9, 2022 Weak results from the UK’s largest companies amid the quieter summer period weighed on market sentiment in the City today. The capital’s premier FTSE 100 index squeezed out a small gain of 0.08 per cent to close at 7,488.15 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Demand for hybrid work sends IWG plc revenues soaring August 9, 2022 Strong demand for hybrid working sent revenues of IWG (International Workplace Group) plc surging in the first half of 2022. The global workspace provider reported revenues of £1.29bn, a 23 per cent rise from 2021’s first half as demand for flexible, hybrid working rose and inflation around the world climbed. IWG’s revenue grew more than [...]
US inflation shock may force Fed to launch one percentage point rate hike August 9, 2022 A scorching set of new US inflation numbers released tomorrow could force the Federal Reserve to hike interest rates by the steepest amount in recent history, Wall Street analysts are betting. Fed chief Jerome Powell and co have already had to hike the world’s most important interest rate by 225 basis points since March, the [...]
Don’t rule out even more rate rises, Bank of England’s Ramsden warns August 9, 2022 The Bank of England will have to build on the biggest rate rise in nearly 30 years to sweep inflation out of the UK, a senior official at the monetary authority said today. Dave Ramsden, deputy governor at the Bank, told Reuters “it’s more likely than not that we will have to raise Bank Rate [...]
Where next for the Rolls-Royce share price? August 9, 2022 Rolls-Royce shares (LON: RR) sunk by 10% to 83p on Friday after half-year results spooked investors over long-running problems with supply chain issues and inflation. The FTSE 100 engineer has struggled to gain traction after the pandemic crash in 2020 saw its shares collapse from 236p in February 2020 to just 39p by October 2020. And after recovering to 147p [...]
John Lewis chair says lockdown retirees should return to work to tackle economic turmoil August 9, 2022 John Lewis head Dame Sharon White has urged the government to encourage lockdown retirees back into work to avoid stagflation. The retail chief warned that ministers should address labour shortages in order to prevent the economic situation from worsening, in an interview with BBC on Tuesday morning. “There’s not a business in the UK that’s [...]
Inflation continues to cast a shadow over crypto markets August 9, 2022 The price of Bitcoin continues to hover at around $24k, dropping just 1.38 per cent over the past 24 hours to $23,810 this morning.
Calls grow to introduce energy bill ‘furlough’ and to fight cost of living crisis with ‘wartime mentality’ August 9, 2022 The UK Government should treat the cost-of-living crisis with a “wartime mentality” and issue an energy bill “furlough”, according to the Liberal Democrats. The party’s Scottish leader, Alex Cole-Hamilton, made the call on the BBC’s Good Morning Scotland programme on Tuesday. “Families right across Scotland, and indeed the UK, will be looking towards the coming [...]
Investors reach for the bottle as inflation soars August 9, 2022 Nervous investors are turning to wine as a steady store of value as inflation climbs.
Housebuilder Bellway boasts record £3.5bn revenue as UK property prices soar August 9, 2022 Bellway, one of Britain’s largest housebuilders, has boasted a record annual housing revenue of £3.5bn, bosses announced today. The figure has grown by more than £1bn since 2020, and some £400m since last year. Despite raw material and labour cost inflation, Bellway’s housing completions jumped by 10.5 per cent in the year to 31 July, [...]