Eurozone core inflation falls, opening door to smaller ECB interest rate hike May 2, 2023 Inflation is receding faster than expected in Europe, raising the prospect of the bloc’s central bank slowing the pace of its interest rates hike this week, new figures out today reveal. The rate of underlying price increases – known as core inflation – in the group of 20 countries using the euro thinned to 5.6 [...]
BP profits the “unearned windfalls of war” say Labour as windfall tax row heats up May 2, 2023 "Pearl-clutching" begins with Labour and Lib Dems plotting moves to toughen up windfall tax - despite BP paying a further £520m already
Take your seat for the Bank of England, Federal Reserve and central banks’ final act May 2, 2023 This is the final act in central banks’ aggressive interest rate hike cycle. Well, so say most analysts at the moment.
Recession, what recession? Firms shrug off UK economy fears to focus on growth May 2, 2023 Britain’s small businesses are turning their attention away from worrying about whether the country will slip into a recession to focus on growth, a new survey out today shows. Confidence among the country’s small firms – which drive output – climbed sharply from its depths at the end of last year, according to the Federation [...]
Eurozone grows marginally in first quarter as outlook for 2023 remains weak April 28, 2023 The eurozone grew only marginally in the first three months of 2023 and at a rate lower than market expectations after stagnation at the end of last year, preliminary data showed on Friday. Gross domestic product in the eurozone expanded by 0.1 per cent in the first quarter, below expectations in a Reuters poll for [...]
Exxon delivers record first-quarter profit on higher output April 28, 2023 Exxon Mobil reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates.
UK to avoid recession but inflation won’t return to Bank of England target until end of next year April 28, 2023 Britain is poised to dodge a recession this year, but inflation will not return to the Bank of England’s two per cent target until the end of next year, new forecasts out last night revealed. The fresh projections from consultancy PwC add to the growing body of organisations who have canned their prediction that the [...]
Explainer: The long tail of the cost-of-living crisis April 27, 2023 With one in five young adults simply not paying at least one bill to make ends meet, inflation could dent their prospects for years to come.
Sainsbury’s profits takes inflation and cost of living hit as supermarket faces stark choice April 27, 2023 In its full year results for the year ending 4 March 2023, Sainsbury’s pre tax profits fell from £854m to £327m as the retailer battled to keep its pole position as one of the UK’s largest supermarkets. The supermarket giant said it was impacted by non-cash asset impairments, driven by a higher discount rate, and [...]
National Grid told to hurry up as solar projects face 15 year waiting times April 26, 2023 National Grid needs to speed up waiting times for new energy projects, or the UK risks failing to meet its solar power targets.