Chip industry revenue tops $500bn for the first time amid roaring demand January 19, 2022 Revenue in the global chip industry soared 25 per cent last year, exceeding an eyewatering $500bn for the first time on record, according to new data. A combination of strong demand amid a short supply and the inflation of raw material costs has pushed up the average selling price for semiconductors, Stamford-based research services company [...]
Average UK house price was £271,000 in November as 2021 prices ‘defy gravity’ January 19, 2022 UK average house prices increased 10.0 per cent over the year to November 2021, up from 9.8% in October 2021, official figures have revealed. According to the Office for National Statistics house price index, the average UK house price was £271,000 in November. This was £25,000 higher than the same time the year prior. Jamie [...]
Burberry predicts 35 per cent profit surge this year January 19, 2022 British fashion house Burberry has reported flat sales growth in the latest quarter with store sales down three per cent.
UK inflation jumps to 5.4 per cent: Highest rate in almost 30 years January 19, 2022 The rate of Consumer Price Index inflation increased to 5.4 per cent in December from 5.1% in November, the Office for National Statistics has said. Grant Fitzner, chief economist at the Office for National Statistics (ONS), said: “The inflation rate rose again at the end of the year and has not been higher for almost [...]
The world in 2022: a map to global politics January 19, 2022 In 2022 the fault lines of global politics will be tested again. City A.M. and the British Foreign Policy Group chart the year ahead. If the pandemic taught us anything, it is the deep ramifications that one country’s domestic politics have globally. From the future of the French President to continual Chinese aggression, here we [...]
Cancel the tax hike – inflation is biting into the recovery enough already January 18, 2022 ASK ANYBODY in and around Westminster what the ‘story of 2022’ will be and it’s hardly surprising that most point not to Downing Street parties or the pandemic but the cost of living. The Tories are acutely aware of the pain coming down the road – Labour keen to capitalise. Well, it’s already the story [...]
Strong jobs market print fails to dampen inflation fears on London markets January 18, 2022 Inflation jitters spreading throughout the City led London markets sharply lower today. The capital’s premier FTSE 100 dipped below the 7,600 mark by closing the day down 0.63 per cent, while the domestically-focused FTSE 250 fell 0.96 per cent to 22,652.71 points. Figures released by the Office for National Statistics (ONS) today revealed the unemployment [...]
The City View: January 18: A bumper tech deal and aviation January 18, 2022 Today Andy Silvester is joined by Skytra’s Co-Founder and Chief Sales and Marketing Officer Elise Weber, and by City A.M.’s Leah Montebello for news about a mega-deal struck between Microsoft and Activision Blizzard. Andy also takes us through the headlines, including news about the impact inflation is having on Britons’ wallets and a warning by [...]
Brits’ living standards eroded by inflation spike casting doubt over economic recovery’s strength January 18, 2022 An inflation squeeze that is choking Brits’ pay packets is threatening to throttle the consumer led recovery. Brits’ take home pay is being corroded by the cost of living spiralling to the highest rate in recent history, revealed figures published yesterday by the Office for National Statistics. The damning data comes as the City braces [...]
Oil prices climb to seven-year highs with OPEC bullish amid tightening supplies January 18, 2022 Oil prices rose to seven-year highs today, with both major benchmarks rallying amid tightening supplies and festering geopolitical tensions.