Heathrow posts strong April but warns of uncertainty ahead May 10, 2022 Heathrow has posted strong results for April but continued to warn about the uncertainties that loom ahead. The London hub reported that 5 million passengers travelled through its terminals in April, with outbound leisure travel driving demand and prompting the airport to increase its passenger forecast for the year by 16 per cent. Commenting on [...]
Sir Keir’s lockdown beers shouldn’t lift Tory spirits too much amid economic outlook May 10, 2022 Today’s Queen’s Speech is an event of great pomp and circumstance, even if this year the Queen’s Speech will not in fact feature the Queen. For a government riding high, it is an opportunity to push forward some key ambitions for the coming year. For this government, mind, it’s more of a chance to set [...]
Brits hold back on buying sofas and fridges as cost of living climbs May 10, 2022 Brits have held back on buying big ticket items, such as furniture, as living costs spiral. Retail sales in the UK fell on a like-for-like basis by 1.7 per cent last month, compared to April 2021. Sales growth went into decline for the first time in 15 months as retailers face a balancing act between [...]
Brits cut back on pints and petrol amid tightening cost of living grip May 10, 2022 Brits are cutting back on pints and are driving less in response to the tightening cost of living grip, reveals fresh figures published today. Purchases in pubs, bars and clubs slowed last month, but were still nearly 40 per cent higher last month compared to April 2019, according to Barclaycard, which oversees around half of [...]
FCA warns of buy now pay later usage amid cost of living crunch May 10, 2022 Consumer groups have sounded the alarm over buy-now pay-later and credit usage as fresh data reveals Brits are turning to the products to buy essentials and ease the pain of a cost of living crunch.
Transport for London debt downgraded by ratings agency due to “uncertain” financial future May 9, 2022 A MAJOR ratings agency has downgraded Transport for London’s (TfL) debt due to the “uncertainty” of its long-term funding, in a further sign of the financial difficulty the operator finds itself in. Moody’s announced it had downgraded TfL’s long-term debt as a result of weaker economic growth and higher inflation delaying the service’s return to [...]
Investors fled equities in April in worst month of flows since March 2020 May 9, 2022 Global exchange traded products notched their worst month of flows since March 2020 in April as investor jitters spread amid soaring inflation and the continued turbulence of war in Ukraine.
Concoction of risks trigger global sell off to kick start week May 9, 2022 A ratcheting up in anxieties over the possibility of the global economy hurtling toward a sharp slowdown wiped billions off the value of the world’s top companies today. London’s FTSE 100 index plunged 2.32 per cent to points, while the domestically-focused mid-cap FTSE 250 index tumbled 2.59 per cent. Investors ditched London stocks on the [...]
The City View: Analysing the G7 plan to phase out Russian oil May 9, 2022 Today Andy Silvester talks to City A.M. reporters Nicholas Earl and Leah Montebello. They go through the G7’s decision to phase out Russian oil, historically elevated gas prices, unpick Snapchat owner Snap Inc.’s plan to compete with the likes of TikTok, and break down Uber’s CEO Dara Khosrowshahi’s recent letter to employees. And in the [...]
SEC doubles size of digital asset unit as Argentina bars banks from crypto services May 9, 2022 Data from CryptoCompare shows that the price of Bitcoin started last week with a sharp move higher, to test the $40,000 mark.