UK hotel prices through the roof as demand for rooms soars with daily rates and occupancy skyrocketing August 8, 2022 A surge in demand for hotel rooms across the UK is increasingly pushing up daily rates for rooms. As a result, most hotel businesses see their revenues skyrocketing. Occupancy levels in the UK rose 10 per cent from the first quarter of this year to 80 per cent in the second quarter, BNP Paribas Real [...]
Shipping services provider Clarksons posts buoyant profit after ‘supply shortage’ in global fleet August 8, 2022 Shipping services provider Clarkson has posted a profit boost for the first six months of the year, with underlying profit before tax sitting at £42.2m. The London-listed firm saw underlying profit before tax rise some 53.5 per cent in the period. The shipping firm posted £266.7m in revenue for the six months to 30 June, [...]
Aviva looks to settle investor nerves after share price slide August 8, 2022 Aviva shareholders are braced to see whether the insurance giant can regain some momentum this week after its share price has stalled in recent months to trade no higher than 30 years ago.
Joules confirms talks with Next about retail giant acquiring £15m minority stake August 8, 2022 Joules has confirmed weekend speculation that Next is set to acquire a minority stake in the lifestyle retailer for around £15m. Sky News reported at the weekend that the high street staple had been in talks with Joules for several weeks over a deal. Now, Joules has confirmed these discussions are taking place, with talks [...]
China trade surplus hits record high while markets nervously await Fed’s next move August 8, 2022 Markets in Europe look set to open slightly lower as we start a new week after US markets closed mixed on Friday, and the latest July trade data for China pointed to weak domestic demand. Any thoughts that the US Federal Reserve might have to start going soft when it comes to the tightening of [...]
Businesses scramble to hire workers despite looming UK recession August 8, 2022 Businesses are scrambling to fill vacancies at a rapid pace despite the UK staring down the barrel of the longest recession since the financial crisis, revealed new figures published yesterday. A shortage of workers partly driven by people dipping out of the jobs market due to Covid-19 related health issues and Brexit has intensified competition [...]
Global money transfers surged 60 per cent over the last decade to £538bn in the past year August 8, 2022 Global money transfers reached $653bn (£538bn) in the past year, a rise of 60 per cent over the last 10 years as economic trouble hits countries. Research by remittance provider ACE Money Transfer said the rise began as the world recovered from 2008’s global financial crisis in 2011-2012, with remittances important in aiding developing countries [...]
Steaming US jobs market raises risk of another jumbo Fed rate hike August 7, 2022 The US jobs market is still steaming despite the world’s biggest economy wobbling under the weight of soaring inflation and higher interest rates, figures published last week showed. America added 528,000 jobs in July, pushing the unemployment rate down to 3.5 per cent, below pre Covid-19 levels, according to data from the US Labor Department. [...]
Truss hasn’t ruled out emergency cash payments, says ally Penny Mordaunt August 7, 2022 Liz Truss has not ruled out giving Brits cash payments later this year to combat the cost of living crunch, Penny Mordaunt has said. The senior Truss ally, and fallen leadership contender, today said that people had been “overinterpreting” comments made by the foreign secretary this weekend about her policy plans. Truss told the Financial [...]
US Federal Reserve’s rate hike cycle takes centre stage in investors’ minds August 7, 2022 Investors are grappling with a mix of challenges they have not faced in years. Tighter monetary policy. Sky-high inflation. Strong geopolitical tensions. These factors have driven volatile swings in asset prices. Usually in times of uncertainty, investors pile into the US dollar and American assets. And that is exactly what they are doing now. US [...]