UK services economy surges after end of Plan B curbs despite inflation reaching record high March 3, 2022 Brits rushed back to pubs, bars and restaurants after the end of Plan B measures, boosting the UK’s services economy, but firms are raising prices at a record rate, reveals a closely watched survey released today. Activity among British services firms climbed to an eight month high, hitting 60.5 in February, according to IHS Markit’s [...]
Cost of living crunch to intensify as firms prepare to launch price hikes March 3, 2022 Speculation inflation in the UK could breach eight per cent in April is looking even more certain as businesses prepare to hike prices to combat swelling costs, reveals a fresh survey released today. Economists’ bets on the Bank of England’s forecasts for inflation to peak at 7.25 per cent this April being undercooked are looking [...]
London top indexes post stellar day on commodities boom March 2, 2022 London top indexes staged a stellar day yesterday as investors poured into industrial stocks as commodity prices soared. The capital’s premier FTSE 100 index climbed 1.36 per cent to 7,429.56 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, advanced 1.34 per cent to 20,775.82 points. [...]
UK inflation to hit generational high of 9.5 per cent as Russia-Ukraine war sends energy prices soaring March 2, 2022 The spillover impact of Russia ramping up its assault on Ukraine on energy prices will send the cost of living in the UK to a level not seen in a generation, reveal fresh forecasts by top City analysts. Fears over Moscow squeezing oil and gas flows in retaliation to Western sanctions has pushed energy prices [...]
Gold – the only “safe haven” asset? March 2, 2022 | City Talk The Russian invasion of Ukraine has had many consequences – first and foremost is its devastating humanitarian impact. While we cannot lose sight of how many millions of people are affected, as investors we are conscious that this is a time of great uncertainty. Schroders’ live blog on the Ukraine crisis will be updated regularly [...]
Eurozone inflation hits another record high heaping further pressure on ECB to act March 2, 2022 Prices among the countries that use the euro are accelerating at the fastest rate on record, reveals official figures published today. Inflation in the Eurozone hit 5.8 per cent this month, the hottest print recorded since the introduction of the euro, according to Eurostat, the bloc’s statistics agency. Rapidly accelerating prices is piling pressure on [...]
World’s blue-chips ditch Russia as West ramps up efforts to freeze out Moscow March 2, 2022 More of the world’s top companies are pouring out of Russia as the West ramps up efforts to freeze Moscow out of the global economy. Despite the exodus, French energy firm Total bucked the trend by announcing tepid measures today, stating it will keep doing business in Russia, but not invest in new projects. The [...]
Chancellor fails to respond to MPs’ claims NI hike will stoke inflation March 2, 2022 Chancellor Rishi Sunak has not responded to accusations from a group of MPs that scrutinises the government’s fiscal plans that the national insurance hike will stoke inflation. In a response to the Treasury Select Committee’s report on the October budget, Sunak recognised the UK’s public finances are “vulnerable to changes in macroeconomic conditions such as [...]
UK living standards to drop at steepest rate since WW2 on Moscow energy supply fears March 1, 2022 The surge in energy prices triggered by the Russia-Ukraine conflict will drive inflation beyond eight per cent, generating the worst squeeze on household living standards since the second world war. Sustained elevated prices for oil and gas will heap an additional 1.5 percentage points on to the cost of living, resulting in a 2.2 per [...]
Russian miners to get the boot from FTSE 100 March 1, 2022 Russian miners are set to be booted from London’s top index tomorrow as a rapid investor sell off since Moscow invaded Ukraine has sent their shares spiralling. Evraz, which has operations in Russia and Ukraine, has had more than 80 per cent shaved off its share price since the start of the year, with around [...]
