Treasury chief warns against pay rises as thousands expected to protest in capital over cost of living crisis June 18, 2022 Treasury chief Simon Clarke has warned against staff pay rises, suggesting that Brits should avoid "unrealistic expectations around pay".
Bank of England prepared for ‘aggressive’ action to tackle inflation, says top economist June 17, 2022 The Bank of England's chief economist said policymakers are ready to take “aggressive action” if there is further evidence that soaring inflation is becoming embedded in pricing by firms.
1 Minute Market Rundown – 17th June 2022 June 17, 2022 Volatility ReignsUSD Bruised But Beaten YetCrypto Holds….For Now Well yesterday was not a day for the faint hearted – again! The SNB and the BOE both raised rates, one surprising the market by its move and one sticking to the script. The BOE acknowledged that inflation is out of control and the market took this [...]
Tesco profit guidance ‘unchanged’ despite 1.5 per cent fall in sales amid ‘incredibly challenging’ environment June 17, 2022 Tesco said its profit guidance for the coming year remained “unchanged” despite experiencing a 1.5 per cent fall in underlying sales in the first quarter of 2022. Britain’s biggest grocery store recorded its sales for the first 13 weeks up until the end of May, and said its profit and cash outlook will stay the [...]
Inside Britain’s food wars: exaggerated veggie claims risk a diet culture war June 17, 2022 Remember being told an apple a day keeps the doctor away? Not so simple, it turns out, as the government discovered with its new Food Strategy, with its plans to halve childhood obesity and make farming in the UK more resilient. The strategy follows an independent review by Henry Dimbleby, the co-founder of restaurant chain [...]
Solving worker shortages is UK’s ‘national challenge’ June 17, 2022 Solving chronic worker shortages that are hamstringing businesses from reviving the economy is “our national challenge,” according to the chief of the UK recruitment industry’s trade body. A shallower pool of workers, mainly the result of long-term sickness caused by Covid-19, people retiring early and younger Brits heading back into education, is resulting in firms [...]
US Fed rate hike rally runs out of steam as Wall Street tumbles June 16, 2022 Wall Street bottomed out today after the rally triggered by the US Federal Reserve yesterday flexing its inflation fighting muscles ran out of steam. Traders ditched stocks as they brace for Fed chair Jerome Powell and fellow rate setters following an extremely hawkish path on interest rates. The tech-heavy Nasdaq, which has suffered heavy losses [...]
Investors ditch London shares after fifth successive Bank of England rate rise June 16, 2022 Investors ditched London-listed stocks today after the Bank of England raised interest rates for the fifth successive meeting. The capital’s premier FTSE 100 index dropped 3.14 per cent to 7,044.98 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 3.05 per cent to below [...]
Bank of England hikes rates for fifth time in a row and warns of 11 per cent inflation surge June 16, 2022 The Bank of England today hiked interest rates for the fifth time in a row for the first time since it was given control of monetary policy a quarter of a century ago as it pushes to cool the highest rise in living costs for a generation. A majority of the Bank’s nine rate setters, [...]
Big investors still bullish on Bitcoin, despite price crash June 16, 2022 Asset managers are still snapping up Bitcoin in the face of a collapse that has seen the world’s leading cryptocurrency tumble in price.