New data: Cost-cutting and restructuring helps keep restaurant industry alive July 17, 2023 Bank of England interest rate rises could threaten the UK restaurant sector’s return to profitability, according to national accountancy group, UHY Hacker Young. The group say the percentage of UK restaurant companies turning a profit has more than doubled from 35 per cent to 78 per cent in the past year, but recent rate increases could [...]
UK inflation to fall to lowest level since March 2022 but Bank of England still tipped to hike interest rates July 17, 2023 UK inflation is on course to drop to its lowest level in over a year, but lingering underlying price pressures will heap expectation on the Bank of England to keep on hiking interest rates, new figures out this week are tipped to show. The rate of price growth in Britain is expected to have dropped [...]
FTSE finance chiefs: Rates, inflation and growth squeeze C-suite confidence July 17, 2023 Ratcheting up interest rate expectations and intense fears about sticky inflation has hobbled FTSE finance chiefs’ optimism, a closely watched survey out today shows. Confidence among chief financial officers (CFO) of FTSE-listed companies has tumbled over the last quarter, according to consultancy Deloitte. Optimism among money managers at Britain’s largest businesses has eroded to net [...]
US inflation slumps to lowest level in more than two years and is now well below UK July 12, 2023 Inflation in the US has slumped to its lowest level in more than two years and is now far below the UK’s rate, official figures out today reveal. American inflation fell to three per cent in June on an annual basis, down from four per cent in the previous month, according to the US Labour [...]
Bitcoin mining – a catalyst for economic growth? July 12, 2023 Susie Violet Ward dispels some myths around Bitcoin mining, and argues how it can help the UK unlock opportunities for economic growth.
UK families set for another year of cost of living crisis and £65bn hit to finances July 12, 2023 UK families are poised to be gripped by the cost of living crisis for nearly another whole year due to the Bank of England keeping interest rates higher for longer in a bid to vanquish inflation, a new report out today claims. Household finances will be corroded by rising living costs and elevated rates until [...]
Rising critical mineral supplies could help meet demand to fight climate change July 11, 2023 Supply of minerals critical to the energy transition could move close to levels needed to support climate pledges by 2030.
The FTSE 100 has done us all dirty… again July 11, 2023 The FTSE 100 has done us all dirty yet – again. Over and over it marches us up a hill only to send us back down again. Former Bank of England governor Mark Carney is often referred to as the “unreliable boyfriend” of monetary policy making for his comments signalling he and the MPC would [...]
House prices: Buyers playing ‘wait and see’ on purchases rattles confidence July 10, 2023 Property portal On The Market has warned of a challenging outlook for the year ahead as aggressive rate rises have led buyers to “wait and see” on house purchases whilst the market remains unsettled. The estate agent, which operates similar to Rightmove and Zoopla, told investors this morning that stubborn inflation and the high cost [...]
Wage growth has ‘passed its peak’ as Andrew Bailey prepares to address City on interest rates July 10, 2023 Workers returning to the jobs markets and boosting the volume of candidates available to businesses are poised to put a lid on wage growth, analysts are predicting official numbers this week will show. Pay growth is said to have “passed its peak” after raging for more than a year, fuelled by staff demanding wage increases [...]