Revenue sinks at JD Wetherspoon as boss says cost pressures ‘mitigated to an extent’ March 18, 2022 Revenue at pub chain JD Wetherspoon has taken a hit to the tune of 13.5 per cent as the firm warns of rising costs across its business. The company reported revenue of £807.4m, for the 26 weeks ended 23 January 2022, versus £933m in 2020. However, chairman Tim Martin said pressure on input costs from [...]
Gold prices recover despite Federal Reserve rate hike March 17, 2022 Gold prices have surged to $1,941 per ounce despite the US Federal Reserve increasing interest rates by 25 basis points.
London’s top indexes jump as Bank of England hikes rates again March 17, 2022 London’s top indexes jumped yesterday after the Bank of England lifted interest rates for the third meeting in a row. The capital’s premier FTSE 100 index climbed 1.28 per cent higher to 7,385.34 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.34 per cent [...]
UK could see double-digit inflation, chair of John Lewis warns March 17, 2022 Britain may see double-digit inflation, the chair of the John Lewis Partnership has warned. Dame Sharon White’s comments came after the UK registered inflation of five-and-a-half per cent, with the Bank of England predicting it could exceed seven percent, as to raised interest rates on Thursday. Speaking on BBC Radio Four’s Today Programme, she said: [...]
Expect four more BoE rate hikes this year, economists warn March 17, 2022 Better than expected economic growth and a tightening jobs market will coax the Bank of England into lifting rates four more times this year. That’s according to some analysts’ read of the Bank’s decision to hike rates for the third successive meeting today, sending borrowing costs 25 basis points higher to pre-pandemic levels of 0.75 [...]
Bank of England hikes rates for third successive meeting in bid to catch rampant inflation March 17, 2022 The Bank of England today hiked interest rates for the third successive meeting for the first time since 1997 as it tries to catch up with rampant inflation that is threatening to derail the UK economy. Rate setters at Threadneedle Street sent borrowing costs 25 basis points higher, taking them to pre-pandemic levels of 0.75 [...]
1 Minute Market Rundown – 17th March 2022 March 17, 2022 Russia – UkraineRisk sentiment improvesFed delivers So there were two big talking points yesterday. Firstly, Chinese authorities decided enough was enough and stepped in to prop up domestic equity markets. They pledged to keep capital markets stable, support oversea stock listings and confirming that regulation of big tech will end soon. Unsurprisingly, Asian stocks saw [...]
Gordon Brown joins 50 charities urging action on cost of living crisis, u-turn on ‘unthinkable’ below-inflation benefit rise March 17, 2022 Former Prime Minister Gordon Brown joined around 50 charities urging the government to urgently address the cost of living crisis, and change its mind on a below-inflation benefits rise. Pressure was growing on ministers this week not to go ahead with the rise of 3.1 per cent in the Spring statement, as inflation is set [...]
Crypto markets up after US Federal Reserve raises interest rates March 17, 2022 Bitcoin, the leading cryptocurrency, is currently changing hands at just below the $41k mark - up three per cent over the past 24 hours.
Eurozone inflation hits fresh record high heaping more pressure on ECB to move quicker March 17, 2022 Prices are rising at the fastest rate on record in the Continent in a further sign the European Central Bank (ECB) will have to rein in policy quicker than expected. Inflation among the bucket of countries using the euro climbed to 5.9 per cent last month, up marginally from 5.8 per cent in January, the [...]