Conflict of interest claims: While looking for Brexit opportunities, Jacob Rees-Mogg holds stake in $8bn emerging market investment fund February 17, 2022 Experts have pointed out that Jacob Rees-Mogg holds a substantial stake in a multi-billion investment fund specialised in emerging markets, while at the same time he is now tasked with finding ‘Brexit opportunities’ in those same countries. Rees-Mogg is a major shareholder in Somerset Capital, an investment firm he co-founded and focuses on investment projects [...]
Brits to face permanently higher prices if rising wage and energy bills persist February 17, 2022 Consumers will face permanently higher prices for products if rising wages and energy costs persist, reveals fresh research published today. Services firms are raising prices at the fastest pace on record to alleviate severe margin pressure stemming from rising bills, according to a survey by Lloyds Bank. Soaring staffing and energy bills are sending costs [...]
Brexit shaves off record £20bn from UK exports in one year alone with imports from EU also dropping February 16, 2022 UK exports to EU countries shrunk by a record £20bn in just 20 months, according to new figures. Sales to the EU dropped more significantly in 2021 than exports to any other country in the world, the ONS data shows, as UK to EU exports nosedived 12 per cent between January and December of last [...]
London markets edge higher as investors shrug off another hot inflation print February 16, 2022 London markets were muted yesterday as investors digested the implications of another red hot UK inflation print. The capital’s premier FTSE 100 index edged down 0.07 per cent to 7,603.78 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, dipped 0.11 per cent to 21,828.94 points. [...]
Brits brace for multi-pronged living standards crunch as inflation hits new 30-year high February 16, 2022 Brits will be hit by a multi-pronged squeeze on their living standards this year, economists are warning after new figures published today revealed inflation has climbed to a fresh 30-year high. A combination of accelerating price rises, tax hikes and higher interest rates will erode Brits’ finances at the worst rate since the late 1940s, [...]
British factories hike prices rapidly to protect margins February 16, 2022 British factories are hiking prices for goods rapidly in a bid to offset swelling raw material costs, reveals official figures released today. Prices charged by manufacturers accelerated 9.9 per cent in the year to January, up from 9.3 per cent in December, according to the Office for National Statistics (ONS). Soaring oil prices driven by [...]
Bank of England to look through weaker growth and send rates to financial crisis levels February 16, 2022 The Bank of England will look through weaker than expected economic growth this year and send interest rates to levels not seen since the financial crisis, experts are betting. Zeroing in on eradicating rampant inflation in the UK at the expense of providing a floor for the economy will drive the Bank to launch the [...]
Liontrust faces shareholder rebellion over plans to hike executive salaries February 15, 2022 London-listed asset manager Liontrust is facing a shareholder rebellion over plans to hike the salaries of its C-Suite executives as Britain faces rampant inflation and a widespread cost-of-living crisis. A significant proportion of Liontrust’s shareholders are expected to vote against the asset manager’s new remuneration policy, at a specially convened general meeting tomorrow, Sky News’ [...]
Cooling Russia-Ukraine tensions lift London markets February 15, 2022 London markets bounced back yesterday as a seeming de-escalation in tensions between Russia and Ukraine cooled investors’ fears about an imminent invasion. The capital’s premier FTSE 100 index closed 1.03 per cent higher at 7,608.92 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, added 1.09 [...]
Global markets snap back as Russia-Ukraine tensions thaw February 15, 2022 Global markets have snapped back from a bruising session yesterday driven by a thawing of Russia-Ukraine tensions. A glimpse of a pathway to a deal to avoid a war in eatern Europe sent London’s premier FTSE 100 index soaring nearly one per cent, while the domestically-focused FTSE 250 index advanced 1.06 per cent. Although not [...]
