Brits cut back on petrol and diesel as cost of living crisis deepens May 13, 2022 Brits are cutting back on petrol and diesel as they reduce the number of car journeys they make to save cash, revealed Ascona Group.
Crypto winter: Bitcoin in ‘something of a recovery’ amid fears worst yet to come May 13, 2022 Bitcoin has seen “something of a recovery” as cryptocurrency investors have been left counting their losses after a crash this week. Cryptocurrencies including Bitcoin and Ethereum hit historic lows on Thursday in a major price meltdown that wiped out previous gains. Over the past week, the price of Bitcoin has plunged more than a fifth [...]
Oil bodies downgrade demand expectations as lockdowns and inflation bite May 13, 2022 Leading oil bodies have downgraded expectations for crude demand this year, amid continued volatility in the market.
Optimism returns to crypto markets as the day is greeted by big green candles everywhere May 13, 2022 The doom and gloom is still in the markets, but optimism abounds as almost every cryptocurrency turned green today.
Letters: Are we trusting the Bank? May 13, 2022 [Re: UK recession to hit sooner than first thought as economy shrinks unexpectedly, yesterday] With the UK seemingly entering a period of stagflation, it’s clear that the Bank of England has taken the right course of action by raising interest rates earlier this week – a necessary move to help tackle the challenge faced by [...]
Jacob Rees-Mogg adds fuel to the Brexit fire: ‘The EU is trying to punish the UK’ May 13, 2022 Jacob Rees-Mogg has claimed the EU is trying to punish the UK for Brexit. The Minister for Brexit Opportunities and Government Efficiency said about the ongoing talks with the EU: “I think it [the EU] wants to make the UK feel bad about having left the European Union and that underpins its whole policy and [...]
A volatile week draws to a close on Friday the 13th with ‘a UK economy that has more or less ground to a halt’ May 13, 2022 There were more wild swings in equity markets over the last 24 hours, largely driven by a concern over slowing growth, and sticky inflation, raising fears of looming stagflation and possible recession. These worries manifested themselves in the guise of fluctuating bond yields, and weaker commodity prices, while Federal Reserve officials continued to show little [...]
Bank of England adds Brexit critic to rate setting committee May 13, 2022 The Bank of England (BoE) has appointed a strong critic of Brexit to its key rate setting monetary policy committee.
VAT revenues rise to highest amount ever as HMRC pockets £157bn in just one year May 13, 2022 HMRC collected a record £157.2bn from VAT bills in in the last tax year, a 55 per cent jump on the £101bn collected in 2020/21, after businesses were forced to make up for VAT payments they deferred during the pandemic. Accountants have told City A.M. that HMRC’s VAT income has risen sharply after the rate [...]
OakNorth boss Rishi Khosla is braced for the next economic crisis May 13, 2022 Rishi Khosla has become rather used to dealing with economic crises over the past seven years.