Outcry: Chinese creditors sue collapsed Evergrande for $13bn December 16, 2021 Chinese creditors have sued collapsed property giant Evergrande for more than $13bn (£9.7bn) for alleged overdue payments.
PMI: Omicron curbs on daily life wreak havoc on UK economy December 16, 2021 Strict restrictions on Brits’ daily lives are wreaking havoc on the UK economy, reveals a closely watched survey released this morning. The flash purchasing managers’ index (PMI), a timely indicator of the health of the British economy, plummeted to 53.2 in December, a 10-month low and down from 57.6 in November, according to IHS Markit [...]
Taxman takes the festive cheer out of Christmas December 16, 2021 British households are set to be stung by a Christmas tax of over £190 on their festive shopping this year, reveals new research published today. The average UK household will have to cough up £191.75 on their festive shopping this year, according to the TaxPayers’ Alliance (TPA). John O’Connell, chief executive of the TaxPayers’ Alliance, [...]
Some economists hold out hope for Bank of England rate hike December 15, 2021 The Bank of England would have hiked interest rates sharply to quash the over 10-year high inflation print if the UK was not in the teeth of the Covid-19 crisis, according to City economists. That’s the prediction from analysts at Bank of America, who today said: “In normal times, the BoE would likely already have [...]
Decade-high inflation print dials up pressure on Bank of England to hike rates December 15, 2021 Pressure on the Bank of England to hike rates is dialling up amid swelling energy bills causing inflation to skyrocket to its highest level in over a decade. The cost of living climbed to 5.1 per cent last month, according to data released by the Office for National Statistics (ONS) today, smashing analysts’ expectations and [...]
China’s Evergrande: not so grand financial statements? December 15, 2021 | City Talk Evergrande Group is the latest listed company to unexpectedly find itself on the verge of bankruptcy. When businesses are thrust into public view for the wrong reasons, my first thought is always whether trouble could have been coming. To see if the Chinese property development giant’s travails could have been anticipated, I looked at its [...]
Soaring fuel and clothes prices push inflation to 5.1 per cent, its highest level in a decade December 15, 2021 Spiralling prices in transport and retail have pushed inflation to its highest level for a decade piling pressure on the BoE to hike rates.
Londoners have the second-lowest perception of their wealth in England December 15, 2021 Despite having the highest average total wealth in the country, London dwellers’ perceptions of their financial wellbeing are particularly poor, according to this year’s UK financial health index by wealth manager St James’s Place. Data from the index released today, ahead of The Bank of England’s announcement of its next move on interest rates later this [...]
London markets post mixed bag as investors mull Bank’s next rate move December 14, 2021 London markets were a mixed bag yesterday as investors mulled the Bank of England’s next move on interest rates. A strong jobs print boosted investor sentiment yesterday morning, lifting the capital’s main indexes. However, the FTSE 100 gave up morning gains to close 0.18 per cent lower at 7,218.64 points, as did the mid-cap FTSE [...]
IMF takes swipe at Bank of England over rate inertia amid soaring inflation December 14, 2021 The International Monetary Fund (IMF) today fired a warning shot at the Bank of England, urging the central bank to hike interest rates now to tame runaway inflation. The world’s economic watchdog told the Bank it needs to “withdraw the exceptional support provided during” the Covid-19 crisis or risk facing spiralling inflation. In a stark [...]
