Swelling energy bills propel inflation to 4.2 per cent, more than double Bank of England’s target November 17, 2021 Swelling household energy bills have propelled inflation to more than double the Bank of England’s target, dialling up pressure on the Old Lady to act to hose down red-hot price rises. Inflation scaled to 4.2 per cent in October, up sharply from 3.1 per cent in the previous month, according to the Office for National [...]
UK factory prices climb at fastest pace in over a decade November 17, 2021 British manufacturers are hiking prices at the fastest rate in over a decade to offset a margin assault from soaring oil prices. Prices charged at the factory gate are eight per cent higher than they were a year ago, the highest rate of inflation since September 2011, according to the Office for National Statistics (ONS). [...]
London markets struggle for direction as investors mull near decade high inflation print November 17, 2021 London markets struggled for direction this morning as investors mulled the possible fallout of UK inflation reaching its highest level in nearly a decade. The capital’s premier FTSE 100 index edged down 0.06 per cent to 7,322.28 points, while the mid-cap FTSE 250 list of shares rose 0.06 per cent to 23,556.06 points. Swelling household [...]
Pound strengthens against dollar on mounting Bank of England rate hike bets as inflation heats up November 17, 2021 The pound strengthened sharply against the dollar amid growing speculation the Bank of England will hike interest rates due to inflation soaring to more than double its target. Fresh data published this morning by the Office for National Statistics (ONS) shows inflation scaled to 4.2 per cent in October, causing investors to pour into sterling. [...]
Crude moves: End of oil rally may be in sight with US ramping up production November 16, 2021 Soaring oil prices could be reduced by a global rebound in supplies, the International Energy Agency (IEA) said yesterday. In its November oil report, the organisation argued “the tide might be turning” in the market as supplies catch up with demand. The IEA now expects oil production to increase by 1.5m barrels per day over [...]
Nearly $500bn ‘lost to tax abuse’ by companies and elites in 2021 November 16, 2021 Countries have lost $483bn to tax abuse by multinationals and ultra-wealthy individuals, with the UK singled out as the world’s greatest enabler of global corporate tax abuse, according to a new report. The State of Tax Justice 2021 report found that the UK was responsible for nearly 40 per cent of the total losses this [...]
Mounting Bank of England rate hike speculation weighs on London markets November 16, 2021 Mounting speculation that strong jobs figures will coax the Bank of England into hiking interest rates next month weighed on London markets this morning. The capital’s FTSE 100 index pulled back 0.16 per cent to 7,340.28 points, while the mid-cap FTSE 250 lost 0.10 per cent to dip to 23,598.73 points. Experts are stepping up [...]
City bets on Bank of England rate hike ramp up again after strong jobs figures November 16, 2021 City bets on the Bank of England hiking interest rates soon are ramping up once again after fresh jobless data showed the worst effects of the end of the furlough scheme have been largely avoided. The Old Lady will turn the dial at its next meeting in December due to the labour market looking less [...]
Post-COP26 beating: All eyes on mining firms today after investors dump stocks on merciless Monday November 16, 2021 Investors yesterday dumped mining stocks as the future of coal looks bleak during the first day of trading on the London Stock Exchange since the COP26 agreement was signed over the weekend. Several big names saw falls, including Evraz down 16.8p at 603.2p; BHP down 37.4p at 1923.4p; Antofagasta down 28p at 1,460p and Anglo [...]
Jobs market turbulence after furlough fails to rear its head as Brits in work swells 0.6 per cent to over 29m November 16, 2021 An expected wave of job losses after government support measures propping up the jobs market were pulled has seemingly been averted. The number of payrolled employees climbed 160,000 over the last month, or 0.6 per cent, to 29.3m. This is the first period which the Office for National Statistics (ONS) has examined the labour market [...]
