ECB gets more nervous by the day as Eurozone inflation hits highest level ever: Sixth record in a row April 29, 2022 Inflation hit a new record for the 19 countries that use the euro as skyrocketing fuel prices boosted by the war in Ukraine add new burdens to household finances and weigh on a slowing economic recovery from the latest outbreaks of Covid-19. Annual inflation hit 7.5 per cent for April, the highest since statistics started [...]
Apple beats expectations with record revenues and profits amid looming pandemic headwinds April 29, 2022 Apple has reported record revenues in the second quarter of its financial year with turnover soaring to $97.3bn between January and March.
Raw material inflation translates to continued price hikes for Travis Perkins April 29, 2022 Travis Perkins has continued to pass off the growing costs of raw materials through price hikes, as it recovers from sustained supply chain hang-ups. “Pricing accounted for approximately two-thirds of the growth with manufacturer increases continuing to be passed through in an orderly manner,” the retailer said in its latest trading update today. “The group’s [...]
Natwest’s profits soar as high interest rates boost bank’s mortgage business April 29, 2022 Natwest today said its profits had almost doubled since the previous quarter, despite inflation, the cost-of-living crisis, and the war in Ukraine. The bank said it had generated £841m in profits in the first quarter of 2022, up 93.8 per cent compared to the £434m in profits Natwest posted in Q4 2021. The first quarter [...]
House price growth slows but remains in double digits April 29, 2022 Growth in house prices has slowed this month, but remains in double digits, according to the Nationwide House Price Index.
How TikTok saved the bookstar: Will the UK stay in love with reading after lockdown? April 29, 2022 A decade ago, the narrative of bookselling was of the surging popularity of digital book sales, with physical editions left on the shelf. Figures from the Publishers’ Association in 2012 saw digital book sales shoot up 54 per cent while physical book sales dipped five per cent. Fast forward to 2021 and UK publishing sales [...]
China’s lockdowns exacerbate supply chain issues, says Airbus boss April 28, 2022 China’s recent lockdowns have exacerbated ongoing supply chain issues, according to Airbus’s chief executive Guillaume Faury. “The whole worldwide supply chain is complicated at the moment,” he told journalists today. Faury said that, even though lockdown-induced problems with raw materials continue to increase market pressures, the company will remain committed to raise production of A320 aircraft [...]
US economy unexpectedly shrinks in sign of coming global growth cool down April 28, 2022 A sharp pullback in businesses spending to build up stock to avoid being spiked by intense supply chain disruption has led the US economy to unexpectedly shrink in a sign that global growth will cool this year. Stateside output dropped 1.4 per cent in the first three months of the year, a huge miss from [...]
Merck raises full-year forecasts after recent $5bn sales surge April 28, 2022 Merck’s sales have surged more than $5bn (£3.9bn) in the first few months of this year, carried by the popularity of its cancer drug and Covid-19 pill. The US pharmaceutical giant enjoyed a 50 per cent jump in sales to $15.9bn (£12.6bn), up from $10.6bn (£8.4bn) in the first quarter of last year. Merck, the [...]
Businesses splash £5bn on London offices as overseas firms eye UK capital April 28, 2022 Businesses have splashed £5bn on office assets in London in the first few months of this year – the highest level of investment since 2018, commercial real estate services firm Avison Young has revealed. The figure is more than double the amount spent in the same quarter last year, buoyed by recent high-value deals. The [...]