CEOs zoom in on ESG and climate change as world enters third pandemic year January 11, 2022 Climate risks dominate global concerns as the world enters the third year of the pandemic, according to a new World Economic Forum report shared with Morning Wire today. The Global Risks Report 2022 sets out that while the top long-term risks relate to climate, the top shorter-term global concerns include societal divides, livelihood crises and [...]
Plan B Omicron curbs derail pubs and restaurants’ vital Christmas trading period January 11, 2022 The re-emergence of curbs to tamp down on the spread of Covid-19 derailed the vital Christmas trading period for Britain’s hospitality sector, reveal new figures published today. Brits pulled back sharply on spending at pubs, bars and restaurants over the festive period, according to research undertaken by Barclaycard. Spending at restaurants sunk over 14 per [...]
London notches best year for floats since 2007 January 11, 2022 A wave of listings flooded London markets last year as private firms pushed to capitalise on strong investor demand, reveals new figures published today. Some 121 businesses floated in the City in 2021, the highest volume since 2007, according to research carried out by consultancy EY. Newly listed firms raised over £16bn in the capital [...]
Local councils secure surplus Westminster funds after overstating Covid-19 budget impact January 11, 2022 England’s local councils severely overshot the amount of money they would need to fund the fight against Covid-19, reveals a new study released today. Councils in England told central government their net spending had swelled £7.8bn as a result of the pandemic. However, analysis by the economic think tank the Institute for Fiscal Studies (IFS) [...]
IoD Chief Economist Kitty Ussher on how the UK can balance the books January 11, 2022 | City Talk This article first appeared in ICAS’ CA magazine. We emerge from the pandemic with cautious optimism – and a huge fiscal hangover. How do we balance the books and what role can CAs play in supporting the economy’s nascent recovery? IoD Chief Economist Kitty Ussher shares her thoughts Kitty Ussher is sitting in a meeting room at the [...]
Buckle up: Wild ride on Wall Street as rate rise talk spooks investors January 10, 2022 An explosive Goldman Sachs note triggered a day of drama on Wall Street today after the investment bank warned of as many as four US Fed rate rises in 2022 alone. The tech-heavy Nasdaq crashed by as much as 2.7 per cent in early trading, tipping it briefly into correction territory. A late rally saw [...]
UK inflation to remain more than double BoE’s target for entire year January 10, 2022 UK inflation will run at more than double the Bank of England’s two per cent target for a whole year, reveals fresh forecasts published today. The rate of price increases will peak at 6.7 per cent this April, lifted higher by the energy bill cap being hoisted around 50 per cent, according to investment bank [...]
US Federal Reserve to launch rate hike spree in 2022 January 10, 2022 The US Federal Reserve will launch a hiking spree this year as the world’s most influential central bank zeroes in on spiralling inflation in America, according to City analysts. The Fed will hoist interest rates at least four times in 2022 in a bid to tame red hot price rises that are already seeping into [...]
Britain’s financial future needs catch-up plan for young workers January 10, 2022 If lockdowns have taught us anything, it’s not to underestimate the power of a holiday. Two weeks on the beach feels like a valuable reward after two years of mentally draining restrictions. It is not surprising that travel companies are reporting an uptick in the booking of ‘big’ holidays. Part of that, of course, is [...]
London markets dip as investors pour out of housebuilders January 10, 2022 London markets dipped today driven by investors pouring out of housebuilders after the UK government signalled it will clamp down on them shunning fixing Britain’s cladding crisis. The capital’s premier FTSE 100 index closed 0.53 per cent lower at 7,445.25 points, while the mid-cap FTSE 250 index, which is more aligned to the health of [...]