China economy whacked by Omicron curbs and stalling property sector January 17, 2022 China’s economy is growing at the slowest pace in a year and a half as the world’s second largest economy contends with a concoction of headwinds, revealed official figures released today. Gross domestic product (GDP) jumped four per cent over the three months to December compared to the same period last year, the National Bureau [...]
Two-thirds of Brits say rising cost of living has hampered savings January 17, 2022 The rising cost of living is having a detrimental impact on UK savings, with 66 per cent of people saying that the rising cost of living has had an impact on their ability to save money.
Manufacturing deals rocket as businesses lock in wages amid inflation January 17, 2022 Pay settlements of up to 14 per cent have been agreed with manufacturers, as business and investors gear up for fresh inflation figures, with prices rising at more than double the Bank of England’s target rate.
Millions of Brits to be plunged into ‘fuel stress’ as experts downgrade UK economic forecasts January 17, 2022 Millions of Brits are set to be plunged into fuel stress when the energy watchdog hoists the cap on bills, reveals a new study published today. The number of households languishing in fuel stress will treble overnight to 6.3m when the new energy price cap takes effect on April 1, research carried out by the [...]
Square Mile defies downbeat post-Brexit worker exodus forecasts January 17, 2022 The City is smashing downbeat forecasts that Brexit would ignite a mass exodus of workers from the Square Mile to the Continent, reveals a fresh study released today. London’s top banks, brokers and fund managers are launching a recruitment offensive as the spectre of the pandemic over the capital recedes. In the final three months [...]
Brits shrug off cost of living squeeze and rush to snap up homes January 17, 2022 Brits are shrugging off the cost of living crisis and higher mortgage costs and are rushing to snap up homes, reveals a new study published today. A housing market frenzy in 2021 triggered by the pandemic engineering a mass shift in housing preferences and the stamp duty holiday has bled into the new year. The [...]
City chiefs draw up plans to create new market in post-Brexit tech drive January 16, 2022 City chiefs are drawing up plans to shake up the capital’s listing structure to attract fast-growing tech companies, according to reports. The London Stock Exchange (LSE) has tabled proposals to erode the normal lines between public and private companies. Private firms would be given access to a special market to allow them trade shares on [...]
Week ahead: City braces for more eye watering inflation data January 16, 2022 The City’s attention this week will zero in on latest UK inflation estimates published on Wednesday. Although experts expect the rate of price rises to remain broadly unchanged, investors are likely to gulp at inflation remaining at historically high levels. According to the Office for National Statistics (ONS), inflation hit 5.1 per cent in November, [...]
UK farmers face bankruptcies and closures as £1.8bn in EU cash stops with MPs warning ‘blind Brexit optimism’ may lead to higher food prices January 16, 2022 Direct agriculture funds of around £1.8bn per year will be cut by half in 2025 and completely dry up by 2027, under new government plans. As the EU’s Common Agricultural Policy (CAP) no longer applies to British farmers following the UK’s departure from the EU, MPs warn in a new report for ‘blind Brexit optimism’ [...]
JP Morgan hits record annual profits despite fourth quarter slowdown January 14, 2022 JP Morgan has reported record annual profits today despite a slowdown in its trading business and rising costs biting into into fourth quarter profit margins. Profits for the full year hit a record $48.3bn, but the final quarter of the year saw a dip to $10.4bn, a 14 per cent fall on the previous year. [...]