Slashing taxes on fuel would half the cost of filling up a car June 10, 2022 The cost of filling up a car in the UK would be nearly half the price if all taxes on fuel were scrapped, reveals analysis shared exclusively with City A.M. Nearly 50p of every £1 spent on filling up a car in the UK is swallowed up by tax, according to research by the TaxPayers’ [...]
Inflation jitters deal chilling blow to London markets June 10, 2022 Fears over inflation dealing a chilling blow to the global economy and the prospect of a more restrictive monetary policy environment weighed on London markets today. The capital’s premier FTSE 100 index dipped 0.94 per cent to 7,405.77 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
1 Minute Market Rundown – 10th June 2022 June 10, 2022 Trade the ExtremesCrypto Needs to Bounce SoonWhen to Buy the Dip? Yesterday saw a lesson on how not to act like a Central Bank from the ECB. In over 25 years of trading I have rarely seen a less impressive performance at a press conference than we got from Lagarde. The plan was clear. Tell [...]
‘Summer of discontent’ looms as THIRD rail union threatens to strike and plunge country into travel mayhem June 10, 2022 The country has been plunged into further travel mayhem with rail drivers union TSSA set to join the train alongside RMT and Aslef. The organisation served notice to ballot hundreds of staff for strike action at Avanti West Coast, over pay, conditions and job security. Transport and Salaried Staffs’ Association (TSSA) General Secretary Manuel Cortes [...]
City Moves: Who’s switching jobs in the Square Mile? June 10, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. BambuBlack Asia Pacific long-only equities boutique firm BambuBlack has strengthened its investment team with a fresh portfolio manager. Pinakin Patel joins the firm in London from Allianz Global Investors in Hong Kong, where he was an investment [...]
UK jobs market tension shows little sign of unwinding June 10, 2022 Tension in the UK jobs market shows little sign of unwinding as employers continue to struggle to find workers amid a shallower labour pool, reveals a closely watched survey today. Vacancies edged lower in May, indicates 71 reading on KPMG and the Recruitment and Employment Confederation’s (REC) employment index. Despite falling, the reading is far [...]
Andrew Bailey’s confusion over inflation is a worrisome precedent for policy-making June 10, 2022 The Bank of England’s Monetary Policy Committee (MPC) will meet again next week to assess inflation. In the last two years the Bank’s inflation forecast has proven systematically wrong, showing a fundamental error in the models and rationale used. In a conference hosted by the Austrian national central bank last month, the Governor of the [...]
Letters: Taking care of customers June 10, 2022 [Re: No more Netflix and chill: Consumers cancel subscriptions and miss out on meals out amid historic inflation, June 7] In a week with an avalanche of new retail data, it is easy to miss the big picture. The BRC data has a clear message: online is here to stay. Hasty predictions that online would [...]
Retailers tumble as investors fret over spending squeeze June 9, 2022 Retailers took a tumble in London today driven by investors fretting over the impact of the cost of living crunch on the sector’s bottom line. The capital’s premier FTSE 100 index slid 1.54 per cent to 7,476.21 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Parkdean Resorts: £1.6bn sale of holiday park giant stalled over slow UK growth concerns June 9, 2022 The UK economy’s slowing growth is reported to have stalled the £1.6bn sale of Parkdean Resorts following a sixth month auction process. The holiday parks operator and its owner Onex Corporation took the decision to call off the move amid concerns about a possible UK recession, and its impact on the staycation market. This week, [...]