Public sector borrowing hit £18.6bn last month, fourth-highest April since 1993 May 24, 2022 Government borrowing stood at £18.6bn last month, down by £5.6bn from a year ago, but still the fourth highest April borrowing since records began in 1993, according to official figures. The Office for National Statistics (ONS) said this morning that, despite the fall, government borrowing was £7.9bn more than in April 2019 before the pandemic [...]
West End landlord Shaftesbury reaps rewards of London’s exploding rents May 24, 2022 West End landlord Shaftesbury has reaped the rewards of exploding rental growth in London, as its portfolio valuation swells as the new Elizabeth line is unveiled. The real estate investment trust raked in nearly £19m in rent in the six months to 31 March, as its offices, hospitality and leisure, retail and residential portfolio increases [...]
The government should look beyond a windfall tax to see the merit of insulation May 24, 2022 Labour leader Keir Starmer taunted the prime minister at the dispatch box last week, gloating that a windfall tax – the flagship proposal from the opposition to cut down energy bills – was now “inevitable”. Such confidence from Starmer is not unearned, as it has been fuelled by a litany of u-turns from Boris Johnson’s [...]
Wage pressures to persist amid tight jobs market May 24, 2022 Wage pressures emanating from the jobs market are set to persist in a sign elevated inflation may stay around for longer, reveals fresh research published today. Just over 27 per cent of workers in the UK intend to demand a pay rise from their employer over the next year, according to consultancy PwC. Brits, especially [...]
UK dividends slump to $14.7bn in first quarter after slowdown in special payouts May 24, 2022 UK dividends slumped in the first quarter of the year after a slowdown in frothy one-off payouts that caused an $18.8bn spike between January and March last year.
Letters: Some Parisian inspiration May 24, 2022 [Re: Woo investors to make Britain like France, Boris told, yesterday] The Centre for Policy Studies’ (CPS) conclusion that the UK needs to emulate the policies of France to attract investors offers interesting insights. This argument, however, must be put into context. Financial markets are in a precarious position with rising inflation, geopolitical uncertainty, and [...]
Strong B&Q earnings rebuild investors’ risk appetite to kick off week May 23, 2022 Investors picked up their risk appetite again during the opening trading day of the week as B&Q owner Kingfisher helped mend market sentiment. London’s premier FTSE 100 index jumped 1.67 per cent to 7,513.44 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, climbed 1.56 [...]
Bailey bats away claims Bank of England has fuelled inflation May 23, 2022 Governor of the Bank of England Andrew Bailey today snapped back at criticism he and the central bank’s committee of rate setters have fuelled inflation in the UK. The governor dismissed accusations the Bank has contributed to the current living cost spike by over-flooding the UK economy with money during the Covid-19 crisis. “What I [...]
The City View: Bailey bites back, and analysing Australian Labour Party victory May 23, 2022 Today Andy Silvester talks to City A.M. reporter Stefan Boscia. They go through the Labour victory in the Australian election, and, back in the UK, unpick the Tory party split over a proposed windfall tax on energy companies. In the economic and business news: BoE Governor Andrew Bailey has denied that the Bank’s actions during [...]
What does a weaker yen mean for investors in Japan? May 23, 2022 Changing economic circumstances could alter the market impacts of currency weakness explain experts Masaki Taketsume, George Brown and Robbie Boukhoufane. It’s a been a difficult first third of 2022 for markets generally, which is perhaps unsurprising given the many sources of uncertainty and discord in the world. A very sharp depreciation in the value of [...]