US inflation smashes expectations in sign Fed will waive through further steep rate hikes June 10, 2022 US inflation has smashed expectations in a sign the Federal Reserve will waive through a series of steep and rapid rate hikes to prevent high prices from embedding in the American economy. Prices climbed 8.6 per cent over the last year, higher than Wall Street’s forecasts of 8.3 per cent, according to fresh figures published [...]
Slashing taxes on fuel would half the cost of filling up a car June 10, 2022 The cost of filling up a car in the UK would be nearly half the price if all taxes on fuel were scrapped, reveals analysis shared exclusively with City A.M. Nearly 50p of every £1 spent on filling up a car in the UK is swallowed up by tax, according to research by the TaxPayers’ [...]
Inflation jitters deal chilling blow to London markets June 10, 2022 Fears over inflation dealing a chilling blow to the global economy and the prospect of a more restrictive monetary policy environment weighed on London markets today. The capital’s premier FTSE 100 index dipped 0.94 per cent to 7,405.77 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Fuller’s toasts return to profit amid ‘fragile’ consumer confidence June 9, 2022 Pub chain Fuller’s is back in the black after posting an adjusted profit before tax of £7.2m, as the licensed trade recovers from the pandemic. In results for the year to 26 March, the pub operator saw profit back in growth after posting a £48.7m loss in 2021, when Covid lockdowns enforced the closure of [...]
UK to clock weakest growth in rich world amid economic ‘stagnation’ June 8, 2022 The UK will clock the weakest growth in the rich world caused by households retrenching amid the worst cost of living crisis in a generation, according to new forecasts released today. Rampant inflation driven by accelerating global energy prices as a result of Russia’s invasion of Ukraine and ongoing supply chain disruptions caused by China’s [...]
A windfall tax raised by a money-hungry government will scare off our businesses June 8, 2022 Rishi Sunak’s windfall tax on energy firms – what he called a “temporary targeted profits levy” – has gone down well with voters. The tax makes it look like money is raised from someone else and given to them through subsidies to their bills. Despite claims that the tax will yield an additional £5bn in [...]
Union announces three-day rail strike at end of June June 7, 2022 The RMT union announced that its anticipated rail strike will take place over three days at the end of the month. Tens of thousands of railway workers will walk out on 21, 23 and 25 June following failed negotiations with Network Rail and 13 other operators. The union announced that London Underground workers will strike [...]
Service sector dealt hammer blow as cost of living crunch sinks in June 7, 2022 The UK service industry was hammered last month, posting its worst performance for more than a year, as soaring inflation weighed down consumer demand. The closely-watched IHS Markit/CIPS UK services PMI survey scored 53.4 last month, tumbling from a 58.9 reading in April. Any score above 50 shows growth in the sector. However, this represented [...]
Wealth Managers and the Future of Trust: Insights from CFA Institute’s 2022 Investor Trust Study June 7, 2022 Corporate responsibility is more important than ever. Today, many investors expect more than just profit from their financial decisions; they want easy access to financial products and to be able to express personal values through their investments. Crucial to meeting these new investor expectations is trust in the financial services providers that enable investors to [...]
Sunak says £15bn cost of living package will only add to inflation ‘minimally’ June 6, 2022 Rishi Sunak has moved to assure people that the £15bn cost of living package he recently announced will only “minimally” add to the UK’s inflationary pressures. The chancellor today told Westminster’s Treasury Select Committee that he had been careful “to make sure fiscal policy was responsible in that context”. The chancellor last month performed a [...]