Stronger than expected US job growth plunges pound against dollar October 7, 2022 The pound slipped 0.3 per cent against the dollar at $1.113 this afternoon after US labour figures suggested stronger than expected jobs growth. US employers added 263,000 jobs in September as the country’s unemployment rate dropped to 3.5 per cent, figures from the Bureau of Labour Statistics show. Economists polled by Reuters had previously expected US [...]
London toasts Europe’s top talent at ‘Oscars of Tech’ October 7, 2022 | Sponsored Europe’s leading investors and technology entrepreneurs gathered in London’s Hilton Park Lane last night, Thursday 6 October in celebration of the 20th annual GP Bullhound Investor Allstars. Dubbed the ‘Oscars of the tech world’, Investor Allstars is one of the leading events celebrating the very best of Europe’s vibrant tech industry, shining a light on [...]
Pound slumps against US dollar after Fitch sounds alarm on UK finances October 6, 2022 The pound slumped against the US dollar today while UK debt sold off after one of the world’s top credit rating agencies issued a sombre warning to investors about the country’s finances. Sterling weakened 1.55 per cent against the greenback to buy 1.115. It fell by a slightly smaller amount against the euro too. The [...]
Mini budget market turmoil partly triggered BoE emergency intervention, dep governor says October 6, 2022 Market volatility that followed chancellor Kwasi Kwarteng’s mini budget last month partly forced the Bank of England to step in to stabilise UK debt prices and prevent a crisis in the pensions sector, one of its top officials said today. After Kwarteng slashed taxes by £45bn and signalled a borrowing surge on Friday 23 September, [...]
Mark Kleinman: Vodafone pressure, steel woes and a new business boss October 6, 2022 Mark Kleinman is the man the City reads – and in his fortnightly column for City PM, he shares his insight and analysis. Vodafone boss hopes deal eases the pressure At last, an engaged tone. Two months after I wrote in this column that Nick Read, the Vodafone chief executive, was looking nervously over his [...]
Shell says profits will be hit by weaker gas trading October 6, 2022 Shell warned that its third-quarter profits would be dented today after it weathered a sharp rise in refining costs and weaker earnings from natural gas trading.
Pound snaps winning streak against US dollar after Truss conference speech October 5, 2022 The pound slumped against the US dollar today, slicing some of the gains it has made since the currency collapsed after Kwasi Kwarteng’s mini-budget last month. Sterling weakened as much as two per cent against the greenback. It was down against the euro too. The world’s major currencies have tumbled against the dollar this year. [...]
OPEC+ finalises heavy oil output cuts in bid to boost sliding prices October 5, 2022 The world's most influential oil cartel, OPEC+, has agreed to its deepest cuts in production since the pandemic.
London’s IPO slump continues as firms raise £565.5m October 5, 2022 Cash raised through initial public offerings in London plunged by more than seven times in the third quarter of the year as the Capital continues its barren run amid soaring inflation and market volatility.
UK avoids recession with 0.2 per cent growth September 30, 2022 The UK economy grew 0.2 per cent in the second quarter of this year as it bucked initial estimates of a 0.1 per cent contraction in the the three months to June, official figures showed today
