UK flirting dangerously close with recession this year, economists warn April 26, 2022 The UK economy is flirting dangerously close with falling into recession this year as a result of inflation dealing a heavy blow to households and businesses. That’s according to a slate of gloomy forecasts from some of the City’s top economists. Elevated food, energy and core goods prices will send inflation to a peak of [...]
Historic inflation crunch swells UK interest bill to highest on record April 26, 2022 Historic high inflation has swelled the amount of money the UK government spends on servicing its debt to its largest level on record, reveals official figures released today. Britain’s debt interest bill for the year to March climbed 77 per cent over the last year to nearly £70bn in a further sign that Chancellor Rishi [...]
Boris Johnson hints at childcare announcement as PM will chair new committee to tackle raging cost of living crisis April 26, 2022 Boris Johnson will chair a committee to tackle the cost of living crisis in the coming weeks, Downing Street said. One of the announcements will most likely include a childcare measure. The Prime Minister’s official spokesman said: “The Prime Minister will chair a domestic and economic strategy committee in the coming weeks to finalise the [...]
1 Minute Market Rundown – 26th April 2022 April 26, 2022 | City Talk Risk Stages a Comeback into the US CloseCrypto ReboundsSterling and Euro Continue to Look Vulnerable As you finished work yesterday you would have been forgiven for expecting risk markets to remain offered following what could only be described as a horrid day for markets. China’s ‘zero covid’ strategy as well as concerns over inflation weighed [...]
No more license for Amazon: Brazil court deals lethal blow to world’s largest gold mine April 26, 2022 What would have been the largest open-pit gold mine in the world is no more, after a Brazilian federal court upheld the suspension of an environmental license, dealing a blow to the Canada-based company behind the project. Belo Sun Mining was appealing the same court’s 2017 ruling, which found that the company’s consultation with local [...]
Sombre faces in Canary Wharf as HSBC profits nosedive on Ukraine war and inflation worries April 26, 2022 It’s not the best of mornings for HSBC as the banking giant saw its first-quarter profits tumble by more than a quarter after taking a hit on expected bad debts due to the Ukraine war and soaring inflation. The lender posted a 28 per cent drop in pre-tax profits to £3.3bn for the first three [...]
Heathrow will not make a single profit this year as Covid losses swell to £4bn: ‘We are still in a pandemic’ April 26, 2022 Heathrow Airport said this morning the airport will remain loss-making in 2022 as “demand remains very volatile”. Britain’s biggest aviation hub said it is not forecasting a return to profit and dividends this year despite an increase in outbound demand for travel. Its losses during the coronavirus pandemic have now exceeded £4bn. Heathrow has updated [...]
China zero-Covid policy sends chill through global markets April 25, 2022 Anxiety over the spillover effects on the global economy of China plunging more of its largest cities into lockdown as it ploughs ahead with its zero-Covid policy sent global markets tumbling today. A surge in infections has increased the likelihood of authorities tipping more cities into the most onerous Covid-19 restrictions, including China’s capital Beijing. [...]
Portugal scraps EU’s strict Brexit rules and rolls out red immigration carpet for Brits with Spain and Italy likely to follow soon April 25, 2022 Portugal has confirmed it plans to ignore EU rules that require British nationals to be treated as third country citizens at border checks and immigration points. The southern European nation will become the first EU member state to allow UK passport holders to be fast-tracked through electronic passport gates, thereby receiving the same treatment as [...]
UK factories hit by 1970s-style cost crunch in inflation surge warning April 25, 2022 UK factories are having to swallow the quickest rise in input costs for five decades in a sign that the cost of living crunch gripping consumers is set to tighten, reveals fresh figures published today. The cost to manufacturers of buying components has accelerated at the steepest pace since 1975, according to Britain’s top business [...]
