1 Minute Market Rundown – 13th June 2022 June 13, 2022 | City Talk ETH Break Key SupportBTC Under Pressure There are days when I write this piece and hope I am wrong. Friday was one of those where sadly I was right and the world turned ugly. With risk already on the back foot Friday saw a huge CPI upside print and the rest is history. Global stocks [...]
London outpaces UK growth in May but signs of hard times begin to emerge June 13, 2022 LONDON’S businesses outperformed the rest of the UK in May but there are signs staff shortages and inflation are starting to bite, according to a closely-watched business activity index. Natwest’s monthly tracker of both manufacturing and services suggests London’s businesses continued to expand last month but at the slowest rate since the ‘pingdemic’ last year. [...]
CBI: Government must act now on economy to prevent recession June 13, 2022 Urgent action is needed from the government to revive growth otherwise the UK will plunge into a recession. That’s the warning today from the Confederation of British Industry (CBI), the country’s biggest business group. Without a fresh package of measures before the summer parliamentary recess to boost business confidence, a recession will be “a very [...]
Bank of England splurges £200,000 on defining mission statement June 12, 2022 The Bank of England has splurged more than £200,000 on consultants to define its mission statement as it looks to tempt in talent and regain confidence amid a wave of criticism over its handling of soaring inflation
Weekend read: The SPAC bubble is bursting, argues Syz Bank’s investment chief June 11, 2022 With monetary policies tightening, speculative bubbles are bursting one after the other. SPACs are no exception. As a reminder, a SPAC, or Special Purpose Acquisition Company, is a company with no operational activity – an empty shell – that raises funds on the stock market with the sole objective of making an acquisition or acquisitions. [...]
From Ocado to Trustpilot and M&S to ITV: Value of dozens of FTSE giants down by a third since start of Ukraine war June 11, 2022 Nearly 50 companies in the FTSE 350 have seen their stock market values fall by at least a third since the start of the Ukraine crisis. The biggest fallers have been technology companies, new data shared exclusively with City PM shows today. Review website Trustpilot, which listed just over a year ago, has seen its [...]
More Brits than ever dissatisfied with Bank of England’s performance June 11, 2022 More people in the UK than ever are dissatisfied with the Bank of England’s efforts to tame the cost of living, a closely watched survey published today reveals. Just one in four Brits are happy with governor Andrew Bailey and co’s performance, the weakest level since records began in 1999, according to data from pollsters [...]
US inflation smashes expectations in sign Fed will waive through further steep rate hikes June 10, 2022 US inflation has smashed expectations in a sign the Federal Reserve will waive through a series of steep and rapid rate hikes to prevent high prices from embedding in the American economy. Prices climbed 8.6 per cent over the last year, higher than Wall Street’s forecasts of 8.3 per cent, according to fresh figures published [...]
Slashing taxes on fuel would half the cost of filling up a car June 10, 2022 The cost of filling up a car in the UK would be nearly half the price if all taxes on fuel were scrapped, reveals analysis shared exclusively with City PM Nearly 50p of every £1 spent on filling up a car in the UK is swallowed up by tax, according to research by the TaxPayers’ [...]
UK banks no longer ‘too big to fail’ but sector still has room for improvement June 10, 2022 All of the UK’s top banks would survive a major financial shock, but some have shortcomings in ensuring they fund themselves through a crisis, the Bank of England said today. Britain’s eight biggest high street lenders would be able to fail safely without a repeat of bailouts seen during the financial crisis in 2008, according [...]
