Retail therapy gives markets a lift as battle to contain inflation genie starts in earnest May 27, 2022 European markets spent most of yesterday edging cautiously higher, with the FTSE100 shrugging off the UK government’s decision to impose a 25 per cent windfall tax on the oil and gas sector, while at the same time unveiling a fiscal stimulus package. The decision to impose the controversial tax appears to have prompted a review [...]
China lockdowns are exacerbating supply chain crisis, warn manufacturers May 27, 2022 Covid outbreaks in China are worsening a supply chain crisis being endured by manufacturing companies, with an on-going lockdown in Shanghai particularly hitting exports of parts and components, according to a leading trade body. Make UK senior economist Fhaheen Khan said: “What we’ve found from our own members, particularly not just the automotive sector, but [...]
Sunak’s care package prevents severe UK living standards shock May 26, 2022 Chancellor Rishi Sunak’s energy shock care package will prevent a severe erosion of living standards among the UK’s poorest households. That’s according to top wonks’ assessments of today’s round of measures designed to cushion the hit to households from soaring inflation and energy bills. Paul Johnson, director of the Institute for Fiscal Studies (IFS), said: [...]
FCA pushes for reform of London’s listing regime in an attempt to boost growth: ‘A radical set of changes’ May 26, 2022 The City watchdog has outlined plans to reshape the two-tier structure of the London Stock Exchange’s main market today in a bid to simplify listing rules and tempt more fast-growth tech firms to come to market. The Financial Conduct Authority revealed proposals to do-away with the current split between a higher “premium” tier of the [...]
Digital Asset Economy Fuels Instant Settlements Innovation May 26, 2022 | City Talk Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction. Innovations such as shared ledger transactions for institutional investors and traders are [...]
1 Minute Market Rundown – 26th May 2022 May 26, 2022 | City Talk Trade the ExtremesCrypto Comes Under PressureFED Retains Flexibility The FOMC minutes came and went and the markets have summed it up quite nicely – nothing new. There were no fresh insights and all markets can’t make headway in either direction. The word we like to use to describe this market is ‘transactional.’ It feels that [...]
Today: City hold its breath as Rishi Sunak is expected to confirm windfall tax on soaring energy profits May 26, 2022 Energy giants across the UK and investors in the City are awaiting what will come out of Westminster today as Chancellor Rishi Sunak is expected to cave in to pressure to impose a windfall tax on the soaring profits of oil and gas firms. Treasury sources did not deny reports he would use his announcement [...]
London-listed energy giants shake off windfall tax jitters May 26, 2022 London-listed energy firms shook off concerns over the impact of a looming windfall tax on their excess profits during opening exchanges this morning. The capital’s premier FTSE 100 index edged 0.09 per cent higher to 7,529.53 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Heathrow urges govt to ‘bring pace to the policies’ as 10-point plan is rolled out for aviation recovery May 26, 2022 The Government must “bring pace to the policies” after publishing a long-awaited strategy to support the recovery of aviation from the coronavirus pandemic, according to Heathrow Airport. A 10-point plan named Flightpath to the Future has been released by the Department for Transport, focusing on growth, sustainability and protecting passengers. It commits to “position the [...]
Global markets: US resilience lifts indexes worldwide with no surprises from Fed minutes May 26, 2022 European markets had a much more positive bias yesterday, helped by more resilience in the US, which finished the day strongly higher after the release of the latest Fed minutes. “This positive finish took a bit of a knock after the close as another disappointing set of earnings numbers, this time from Nvidia prompted US [...]
