Sales fly for Premier Inn-owner Whitbread: Post-pandemic demand soars as tourists return June 15, 2022 The owner of hotel brand Premier Inn had soaring demand in the first quarter of 2021 indicating a resurgent tourism market in the UK and Germany post-pandemic restrictions. The historic 280-year-old company Whitbread registered a 235 per cent increase in accommodation sales from the last fiscal year. The Houghton Regis-based company, which also has interest [...]
Population of High Net Worth Individuals in the UK grew to 609,400 in 2021 as wealth rose globally June 14, 2022 The number of people in the UK with investable assets of $1 million or more, called High Net Worth Individuals (HNWI), rose 6.3 per cent to 609,400 in 2021 as wealth increased globally. The 2022 World Wealth Report by Capgemini on Tuesday revealed that the global HNWI population grew 7.8 per cent in 2021, with [...]
London markets continue to drop but banks jump ahead of BoE rate rise June 14, 2022 London markets continued to slip today after Monday’s bruising session, but losses were tempered by the UK’s largest lenders jumping ahead of another expected rate hike from the Bank of England tomorrow. The capital’s premier FTSE 100 index fell 0.25 per cent to 7,187.82 points, while the domestically-focused, mid-cap FTSE 250 index, which is more [...]
Coinbase to cut staff by 18 per cent as it warns of crypto winter June 14, 2022 Crypto exchange Coinbase will lay off 18 per cent of its workforce as it warned of a recession and a crypto winter. Coinbase CEO Brian Armstrong said the decision was based on the need to manage expenses and increase efficiency as the company looked to “stay healthy during this economic downturn”. “We appear to be [...]
Middle class stampede for equity release as Brits use their property as ATM by withdrawing billions via later life mortgages June 14, 2022 UK homeowners have already released equity to the tune of £1.4bn so far this year, with this figure estimated to hit almost £5.6bn by the end of the year. In fact, during the first three months of this year, over 12,500 homeowners opted to utilise the pent up value accumulated within their property via later [...]
US Federal Reserve to deliver 75 basis point rate rise tomorrow June 14, 2022 The US Federal Reserve will shock markets tomorrow by beginning a 75 basis point rate hike cycle in a bid to shake inflation out of the American economy. That’s according to top Wall Street analysts, who said last Friday’s inflation overshoot will force Fed chair Jerome Powell and rate setters to deliver a monetary policy [...]
Five doodles to explain climate investing in multi-asset June 14, 2022 | City Talk Our multi-asset investment team has drawn five doodles that help you understand how they think about climate investing. 1. Sustainability is a two-way thing All investors should consider the impact of the climate on their portfolio. But investors whose portfolios have a sustainability objective should go one step further. They should consider the impact their portfolio [...]
Car industry in shock and fuel prices climb as government scraps all grants for electric vehicles June 14, 2022 There is widespread shock and surprise in the car industry this morning as the DfT said all grants for new EVs have been scrapped.
1 Minute Market Rundown – 14th June 2022 June 14, 2022 | City Talk Celsius Insolvent?Risk ClatteredAll Eyes on Powell It was crypto that led the charge down both yesterday and over the weekend, with ETH at the vanguard. BTC had its worst single day performance in a year, while ETH slumped 18% over further concerns around its proposed merge. News on the day of Celsius’s insolvency exacerbated the [...]
Extremely successful? Extremely lucky! June 14, 2022 | City Talk People who are extremely successful in business or investing tend to think of themselves as more skilled and hard working than the average person. No doubt they are on some level, but the more extreme their success, the greater the role luck plays in achieving it. Luck is so critical to extreme success, in fact, [...]
