IMF economy warning reverses FTSE 100 gains despite Unilever’s best efforts July 26, 2022 A bleak set of projections from the International Monetary Fund (IMF) pegging UK growth as the worst in the G7 weighed on London markets today. The capital’s premier FTSE 100 index remained unchanged, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 1.18 per cent [...]
UK sinks to bottom of G7 growth league amid global economic downturn July 26, 2022 The global economy could be hurtling toward one of the sharpest slowdowns in recent memory, with the UK plummeting to the bottom of the G7 growth league, the International Monetary Fund (IMF) warned today. A full shut off of Russian gas flows to Europe and more upside inflation shocks would plunge growth into among the [...]
CBI: Consumer spending smashes expectations, but deeper dip may be on the way July 26, 2022 Consumer spending is defying expectations and holding up better than feared amid sky high inflation, a new survey published today reveals. Retail sales volumes dipped to net a balance of minus four per cent this month, slightly lower than June, according to the Confederation of British Industry (CBI). But, the marginal drop was much better [...]
Homeowners on edge as inflation and interest rates rise: What is next for UK mortgage rates? July 26, 2022 Many people up and down the country will be feeling the financial strain of the cost-of-living crisis, and this’ll only add more pressure on the monthly budgets of millions of UK mortgage homeowners and of those currently looking to buy. With the Bank of England’s base rates having risen to 1.25 per cent in June [...]
UK voters’ concerns on inflation reach highest level in four decades July 26, 2022 UK voter worries on inflation are at their highest since the 1980s as the country faces a severe cost of living crisis and prices of essentials surge. The July 2022 Ipsos Issues Index by research company Ipsos showed that 45 per cent of adults in the UK view inflation as one of the most pressing [...]
London markets muted ahead of US Federal Reserve rate decision July 25, 2022 London markets were mixed today as traders brace for another potential rate bazooka from the US Federal Reserve on Wednesday. The capital’s premier FTSE 100 index edged 0.41 per cent higher to 7,306.30 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.11 per [...]
Three UK Tech Hubs You Can Get A Job In Right Now July 25, 2022 Remote working has opened up possibilities for the way we work like never before. Lots of us are (re)thinking the way we work, and a move can be an attractive possibility. A new city or region can offer a fresh – and more affordable – way of life plus a chance to switch things up. [...]
Inflation shock sends chill through British factories, but hiring holds up July 25, 2022 A softening in the UK economy caused by surging inflation has clamped down on UK factories, a closely watched survey published today reveals. A net balance of six per cent of British manufacturers posted new order growth over the last three months, down sharply from 25 per cent in the three months to June, according [...]
US Federal Reserve to back up monster rate hike with another 75 basis point move July 25, 2022 The US Federal Reserve will back up its monster rate rise last month with another big 75 basis point hike this week as it chases down scorching inflation across the pond. That’s according to Wall Street analysts, who think Fed chair Jerome Powell and the rest of the federal open market committee (FOMC) will need [...]
Jubilee weekend boom fails to lift June’s retail sector July 22, 2022 An uptick in sales of food during the Jubilee weekend was offset by slower sales across the rest of the retail sector to see June retail volumes drop 0.1 per cent compared to previous month. The Jubilee weekend saw food shops sell 3.1 per cent more food last month than they did in May, as [...]