UK economic headwinds cast shadow over Sunak’s cost of living support package May 24, 2022 A slowing UK economy will heap more pressure on the country’s finances, casting doubt over the scale of support chancellor Rishi Sunak will launch to help households through the cost of living crunch. That’s according to economists’ assessments of fresh borrowing figures published today by the Office for National Statistics (ONS). A combination of rising [...]
Conference firm Hyve has £11.5m pre-tax loss as exit from Russia and insurance proceeds dent recovery May 24, 2022 Conference-organising firm Hyve had a pre-tax loss off £11.5m due to the impact of the ongoing war in Russia and declining insurance proceeds. The exhibition company brought in £58.6m in six months to the end of March this year, more than ten times the previous 12 month’s intake. It did however complete its exit from [...]
Public sector borrowing hit £18.6bn last month, fourth-highest April since 1993 May 24, 2022 Government borrowing stood at £18.6bn last month, down by £5.6bn from a year ago, but still the fourth highest April borrowing since records began in 1993, according to official figures. The Office for National Statistics (ONS) said this morning that, despite the fall, government borrowing was £7.9bn more than in April 2019 before the pandemic [...]
Why we still like Asian tech stocks May 23, 2022 Asian semiconductor and IT stocks have had a difficult few months, but we see the sector as a long-term winner. Market trends in Asia this year have tended to see consumer, internet, semiconductor and technology stocks come under pressure. Internet stocks face ongoing regulatory uncertainties, while consumer companies face a profit margin squeeze amid cost [...]
UK launches £40m competition to roll out self-driving commercial vehicles May 23, 2022 The UK Government has launched a £40m competition to kick-start the roll out of commercial self-driving vehicles from 2025. Announced today by investment minister Lord Grimstone, the ‘Commercialising Connected and Automated Mobility’ will provide grants to help increase the UK’s reputation as an industry world leader. Out of the total funding, £1.5m will be used [...]
Pets and lets: Know your rights when renting with Fido May 23, 2022 Working from home and the quest for outside space have both been widely reported since the start of the pandemic but it is perhaps the increase in pet ownership that has had the most impact on the rental market. Renting with a pet often gets a bad press but with accountability and care from both [...]
Ay caramba! UK kicks off negotiations with Mexico for £4bn post-Brexit trade deal May 20, 2022 International Trade Secretary Anne-Marie Trevelyan is set to fire the starting gun on free trade talks between the UK and Mexico during the visit of her Mexican counterpart, Tatiana Clouthier to London this afternoon. Officials said UK negotiators would be looking to go “further and deeper” in terms of integrating ties in a relationship already [...]
Not much to celebrate for Bitcoin in the fog of war, but have you seen China’s hash rate? May 20, 2022 The price of Bitcoin isn't much to cheer about, but Jason Deane has one intuitive eye on China's rising hash rate.
Food as a weapon: Russia accused of withholding grain for millions to ‘break the spirit of Ukraine’ May 20, 2022 Russia has been accused of ‘weaponising’ food and holding grain for millions of people around the world hostage to “break the spirit of the Ukrainian people”. US Secretary of State Antony Blinken told a UN Security Council meeting called by the United States that the war has halted maritime trade in large areas of the [...]
Brits’ optimism tumbles to new depths, below financial crisis and Covid-19 lockdowns May 20, 2022 Rampant inflation, tax hikes, swelling food and energy bills and the Russia-Ukraine war has sent Brits’ optimism to its lowest level ever, reveals a closely watched survey published today. UK households are now even more pessimistic than they were when the world was in the teeth of the global financial crisis in 2008 and during [...]