Bank of England upgrades UK growth forecast as household spending boosts economy May 2, 2019 The Bank of England once again voted to keep interest rates on hold today, as it painted a picture of an economy propped up by household spending as Brexit uncertainty continues. Read more: City A.M.'s shadow MPC votes to hold interest rates despite recent growth Threadneedle Street also upgraded Britain's 2019 economic growth forecast to 1.5 [...]
The material consequences of choosing sustainable fashion April 29, 2019 The textile industry – primarily the business of cloth and clothing – produces close to 100 million tonnes of fibres every year. This number is only set to grow as purchasing power in emerging markets rises. The industry – and its growth – has huge consequences for the environment and climate change, producing some 1.2 [...]
North Sea explorers get boost as US clamps down on Iran oil exports April 23, 2019 Toughened sanctions against Iran helped push up oil prices over the weekend, lighting a fire under London-listed exploration companies today. The cost of international standard Brent crude has risen 2.9 per cent over since Friday, hitting $74.68 per barrel – its highest point since October. Read more: FTSE 100 climbs to fresh six-month high as [...]
AO World spends £15m on Brexit stockpiling as founder returns as CEO April 4, 2019 Electrical retailer AO World today warned investors it expects to take a £2.5m hit this year as it shakes up its management team in the wake of John Roberts’ return as chief executive. Read more: AO World’s chief executive departs with founder returning to the role The exceptional costs for the 12 months to the [...]
UK inflation rate highest of major advanced economies in February April 2, 2019 The UK’s annual inflation rate was the highest of the G7 countries in February, statistics released today showed, due in part to the fall in the value of the pound pushing up the cost of imported goods. Read more: Inflation edges up from two-year low as food and alcohol prices rise Britain’s inflation rate in [...]
Homes switch energy supplier at record rate as consumers face massive price hike next week March 28, 2019 Over 4.5m households changed their gas supplier last year, hitting an all-time high, while electricity switches were at their highest point since 2008. The number of domestic homes that switched electricity supplier hit 5.4m, a 5.5 per cent increase on the year before, figures from the Department for Business, Energy and Industrial Strategy (Beis) show. [...]
TP Icap to move staff out of the City in a no-deal Brexit as it awaits Paris approval March 19, 2019 The world’s largest interdealer broker TP Icap has revealed plans to move staff out of the City in the event of a no-deal Brexit. The brokerage giant said its UK desk’s ability to continue to provide business for EU clients would be under threat if Britain leaves the EU without a deal later this month. [...]
The Conservative party needs to rediscover its economic way March 12, 2019 For most people, the Conservative’s 2015 “long-term economic plan” is now a distant memory. But as someone who was deeply immersed in that election campaign, I still sometimes wake up at night reciting its contents. Though much mocked for its repetition, the plan was more than just a catchphrase. From deficit reduction and tax cuts [...]
Thousands of customers left in limbo as Brilliant Energy becomes the latest supplier to go bust March 11, 2019 Brilliant Energy Supply has become the third provider to go bust so far this year, as companies struggle with rising wholesale costs, and Ofgem’s new price cap. The regulator will now have to step in to find a new supplier for the company’s 17,000 customers, a process it has been forced to go through nearly [...]
Stockwatch: A recovery play and takeover target March 8, 2019 By Edmond Jackson from interactive investor Persistent director buying implies long-term value at this well-known firm, argues our shares analyst. Have shares in £260 million price comparison website Gocompare.com (LSE:GOCO) finally bottomed out? Four non-executive directors appear to think so, buying nearly £44,000 worth of stock at around 65p once the company was out of [...]