Inflation shock sends chill through British factories, but hiring holds up July 25, 2022 A softening in the UK economy caused by surging inflation has clamped down on UK factories, a closely watched survey published today reveals. A net balance of six per cent of British manufacturers posted new order growth over the last three months, down sharply from 25 per cent in the three months to June, according [...]
US Federal Reserve to back up monster rate hike with another 75 basis point move July 25, 2022 The US Federal Reserve will back up its monster rate rise last month with another big 75 basis point hike this week as it chases down scorching inflation across the pond. That’s according to Wall Street analysts, who think Fed chair Jerome Powell and the rest of the federal open market committee (FOMC) will need [...]
Jubilee weekend boom fails to lift June’s retail sector July 22, 2022 An uptick in sales of food during the Jubilee weekend was offset by slower sales across the rest of the retail sector to see June retail volumes drop 0.1 per cent compared to previous month. The Jubilee weekend saw food shops sell 3.1 per cent more food last month than they did in May, as [...]
Truss or Sunak will need to deliver ‘shot in the arm’ of UK economy July 22, 2022 Rishi Sunak or Liz Truss will need to deliver a “shot in the economic arm” of the country to lift Brits’ confidence out of the doldrums after one of them wins the Conservative leadership race, two closely watched surveys published today reveal. Scorching inflation, the highest interest rates in 13 years and tax hikes have [...]
Jitters over global recession send FTSE 100-listed industrial giants lower July 21, 2022 Jitters over a slowdown in the global economy pulled industrial stocks lower today, taming gains on London’s FTSE 100, but Frasers group boosts mid-cap index. The capital’s premier index edged 0.09 per cent higher to 7,270.51 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
European Central Bank marks first rate rise in over a decade with shock 50 basis point move July 21, 2022 The European Central Bank (ECB) today marked its first interest rate rise in over a decade with a shock 50 basis point move. The biggest inflation surge in the eurozone since the creation of the single currency in 1999 forced President Christine Lagarde and co to launch the bigger hike. The Continent’s monetary authority has [...]
Scorching inflation sends UK debt interest bill to record-high £19bn July 21, 2022 Scorching inflation has ballooned the UK’s debt interest bill to its highest level since records began in the early 1990s, official figures published today revealed. The amount of money the UK had to pay investors holding government debt in June more than doubled over the last year, topping £19bn, up from £9.1bn in June 2021, [...]
Liz Truss warns Rishi Sunak’s tax plans lead UK into recession as she is out to challenge ‘economic orthodoxy’ July 21, 2022 Tory leadership contender Liz Truss insisted this a.m. that her economic plan to cut taxes immediately is not a gamble and will not further fuel inflation. Truss warned that the current tax plans – which include an increase in corporation tax from 19 per cent to 25per cent in April – will lead the UK [...]
FTSE 100 loses Wall Street bounce as banks falter July 20, 2022 A boost from a bumper day on Wall Street yesterday was not enough to help London’s FTSE 100 finish higher today. The capital’s premier FTSE 100 index shed 0.44 per cent to close at 7,264.31 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added [...]
Inflation races to new 40-year high – but worst is yet to come July 20, 2022 UK inflation raced to a fresh 40-year high last month, but economists have warned the cost of living squeeze is set to get even worse. Prices surged 9.4 per cent over the year to June, the quickest acceleration since 1982 and up from an already historic level of 9.1 per cent in May, according to [...]
