FTSE 100 close: London index bumps higher ahead of key inflation and wage numbers February 13, 2023 London’s FTSE 100 kicked off the week in busy fashion today ahead of a busy week of data that will provide more clues on the health of the UK economy. The capital’s premier index closed 0.83 per cent higher today at 7,947.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Shell lawsuit: Institutional investors back legal challenge over climate risk February 11, 2023 A group of European institutional investors is backing a novel London lawsuit against Shell's board over alleged climate mismanagement.
Lyft loses ground on Uber: Share price falls 30 per cent after profit down £100m on forecast February 10, 2023 Lyft is trailing behind competitor Uber as disappointing forecasts have caused investors to lose confidence. Shares in the ride-hailing company dropped more than 30 per cent this week after it reported lower than expected first quarter profit forecasts of $975m (£805m). Initially, analysts forecasted it would be at $1.09bn (£900m), according to Refinitiv data. Lyft [...]
The Square Mile and Me: Savvas Savouri on his first job, unfortunate typos and supporting the Gunners February 9, 2023 We dig into the memory bank of the City’s great and good: this week it’s Savvas Savouri, chief economist and partner at Toscafund Asset Management. What was your first job? I must mention a very entertaining Saturday job at my uncles’ shoe repairers, The Master Cobbler, in Highbury Barn, an area full of character and [...]
Driving success: Uber eyes profitability as airport and office journeys fuel post-pandemic rideshare demand February 8, 2023 Uber said it had set its sights on delivering profits this year after 2022’s surge in demand for airport and office rides helped the company rebound from pandemic lows. Dara Khosrowshahi, chief executive of Uber, said the company was now focused on achieving profitability on a GAAP basis this year. Khosrowshahi said: “The pandemic’s impact on [...]
Poor educational outcomes for today’s children could create a future wave of crime February 8, 2023 Children who started back at school post-pandemic lost valuable life skills, and if we don’t make up for it quickly, it could mean more deprivation - and crime - in Britain, writes Paul Ormerod.
Sunak’s reshuffle: Shapps, Badenoch, Hands and Donelan in new cabinet roles after Zahawi’s sacking February 7, 2023 Prime Minister Rishi Sunak has appointed Greg Hands, a former trade minister, as the chair of the Conservative party after Nadhim Zahawi was sacked last month. The Department for Business, Energy, Industry and Strategy has also been broken up into two separate bodies. Grant Shapps, the former Business Secretary has been appointed Secretary of State [...]
Truss didn’t win the argument, she’s rewriting history to claw her way back February 7, 2023 Liz Truss has defended her go-for-growth tax cuts in her mini-budget last year, but the ideological clothing is a farcical excuse to keep her relevancy in Westminster, writes Will Cooling
Energy crisis: Can someone shine a light on the Bulb takeover deal? February 6, 2023 Octopus' takeover deal for Bulb is set to cost the taxpayer much less than originally feared, but the deal remains shrouded in secrecy.
Week ahead: UK economy to narrowly avoid recession but GDP still expected to shrink February 5, 2023 The UK economy narrowly avoided a recession at the end of last year, new official figures out this week are expected to reveal. City traders think new GDP numbers from the Office for National Statistics on Friday will show the economy contracted 0.3 per cent in December, meaning the UK will have just about skirted [...]