Week ahead: Bumper week of economic data to jolt the City April 10, 2022 The City will be eyeing a raft of flagship economic announcements this week that will send ripples throughout London’s top indexes. The capital’s premier FTSE 100 index registered a strong week last week, gaining 1.75 per cent. The mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, shrank [...]
D-Day in France as 48m voters go to the polls: Victory for Marine Le Pen looms as Macron feels the heat from far-right favourite April 10, 2022 Up to 48 million eligible voters will be choosing one of 12 candidates today as polls have opened across France for the first round of the country’s presidential election. President Emmanuel Macron is seeking a second five-year term, with a strong challenge from the far right and seeking to counter nationwide voter apathy. Polls opened [...]
Russian economy plunged into turmoil by rampant inflation after exodus of household brands April 10, 2022 Russian consumers are being squeezed by the ripple economic effects of President Vladimir Putin’s brutal invasion of Ukraine. A host of western corporates pulling out of Moscow, a severe depreciation in the rouble and sharp supply and demand imbalances has sent inflation in the country soaring. Russian firms have been scrambling to secure supplies of [...]
Weekend read: Britain’s buy-to-let landlords claim £18.5bn in tax reliefs despite mortgage interest changes April 10, 2022 The amount UK buy-to-let landlords claimed in tax reliefs increased to £18.5bn in the last year, up from £18.1bn the year before, according to new research shared exclusively with City PM this morning. The amount claimed increased despite a reduction in the amount of relief that landlords can claim on the interest that they pay [...]
Sunday Spotlight: Airbus is winning the battle for the skies from beleaguered Boeing April 10, 2022 The recent challenges around safety concerns and the impact of the coronavirus pandemic have resulted in American aircraft manufacturer Boeing losing ground to Airbus. Although both companies control a significant market share, Toulouse-based Airbus has extended its dominance over the last five years. According to data compiled and calculated by Finbold, shared with City PM this [...]
Russia-Ukraine war sends global food prices to record high April 9, 2022 Global food prices have soared to their highest level ever driven by the Russia-Ukraine war choking supplies of basic foodstuffs, revealed an official index released yesterday. World food costs jumped 13 per cent last month, sending the United Nations’s food price index to 159.3 points, a record high. Ukraine is a linchpin in the global [...]
Gen Z notches worst stock market losses April 9, 2022 The global stock market turmoil triggered by Russia’s invasion of Ukraine has dealt a heavy blow to Gen Z’s portfolio, a new survey released yesterday revealed. Gen Z, people aged 18-25, absorbed the sharpest reduction in returns on their equity investments during the first three months of this year, research by Interactive Investor found. The [...]
Middle class run on equity release: Cash-hungry home owners squeeze nearly £5bn out of their properties April 9, 2022 Equity release payments in the UK increased by almost £1bn in 2021, as more and more people look for alternative ways of ensuring healthy and happy retirements. Between 2020 – 2021, the amount of money released in the UK rose from £3.9bn to £4.8bn, an annual increase of £940 million, or 24.4 per cent, according [...]
Alarm bells ringing: British farmers warn out-of-control milk price rise may lead to dairy and cheese crisis April 9, 2022 Brits will soon face a cheese shortage as spiralling production costs hit producers, farmers are warning this weekend. A farming expert said many supermarkets are already experiencing dwindling supplies – and warned that things are going to get a lot worse. Dairy Farmer Steve Evans from Pembrokeshire told GB News cheese is already in short [...]
Jet2 braces itself for bumper loss as holiday giant crashes £383m into the red April 8, 2022 Holiday giant Jet2 has said the relaxation of UK travel restrictions led to a significant increase in bookings in February and March, although the firm still expects a bumper loss for the past year. The company said bookings for the period approached “seasonal norms as customer confidence in travelling internationally rallied”. The West Yorkshire-based travel [...]
