Brexit has contributed to UK inflation crisis, BoE’s Pill claims November 30, 2022 Brexit is partly to blame for UK inflation surging to a 41 year high and engineering a recession, the Bank of England’s top economist claimed today. Speaking at an event hosted by the Institute of Chartered Accountants, Huw Pill said worker shortages in Britain had been “met by the inflow” of EU migrants while the [...]
Truss budget fallout will drag on growth, LendInvest warns November 30, 2022 Property fintech LendInvest has warned that the fallout of Liz Truss’s disastrous mini-budget in September will drag on growth in the second half of the year, as borrowing slows amid sharp interest rate hikes.
UK shareholders face 60 per cent ‘wealth grab’ under Labour, warns City heavyweight Lord Lee November 30, 2022 Shareholders face a 60 per cent raid on profits under Labour, City veteran and senior private investor Lord Lee of Trafford warned this morning. Capital gains tax on shares sold outside an ISA is currently charged at 10 per cent or 20 per cent depending on your income tax band. But the Liberal Democrat peer [...]
Eurozone inflation drops for first time since mid 2021 and may have ‘passed its peak’ November 30, 2022 Inflation in Europe fell for the first time since mid 2021 and may have passed its peak, fresh figures out today reveal. Prices across the 19 countries using the euro climbed 10 per cent over the year to November, down from a rate of 10.6 per cent in October, according to Eurostat. The drop was [...]
Centrica rolls out bold plans to kickstart a ‘UK hydrogen economy’ via niche player Ryze November 30, 2022 Energy giant Centrica and Ryze Hydrogen will jointly build and operate hydrogen production facilities aimed at providing a reliable supply of hydrogen for industry and transportation, the companies told City PM this morning. A Memorandum of Understanding has been signed and will combine expertise in order to kickstart the development of a so-called “UK hydrogen [...]
London businesses sweat over looming recession and sticky inflation November 30, 2022 London businesses are sweating over the coming recession and sticky inflation, but they are still among the most confident in the UK, a new survey out today reveals. Optimism among the capital’s firms slumped 27 points over the last month to 22 per cent, one of the biggest falls on record, according to Lloyds Bank’s [...]
FTSE 100 lifted by investors cheering HSBC Canada arm sale November 29, 2022 London’s FTSE 100 was boosted today by investors pouring into HSBC after it confirmed it has ditched its Canadian business for £8.4bn. The capital’s premier index jumped 0.51 per cent to 7,512 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.55 per cent [...]
FTSE-100 indexer rolls out crypto equivalent amid market turmoil November 29, 2022 The firm behind the FTSE-100 has rolled out a series of crypto indexes today as it doubles down on a push into digital assets despite extreme volatility in the market.
Brits sit pat on Covid-19 savings mountain in sign of tougher recession November 29, 2022 Brits are sitting pat on the mountain savings they built up over the course of the Covid-19 crisis during lockdowns, official figures out today reveal. Households set aside £6.4bn in savings last month, £1.6bn higher than the average monthly deposit flow before the pandemic, according to the Bank of England. The figures illustrate consumers are [...]
China crackdown weighs on London’s FTSE 100 November 28, 2022 London’s FTSE 100 was today weighed down by fears Chinese authorities could drag down global growth by responding forcefully to protests against the country’s zero-Covid policy. The capital’s premier index dropped 0.17 per cent to 7474.01 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
