Brits flocking to online retailers hoists UK spending above pre-pandemic levels December 31, 2021 Widespread take up of online shopping amid Covid-19 lockdowns has lifted consumer spending above pre-pandemic levels, reveal fresh figures released today. Brits spent 5.9 per cent more in 2021 compared to 2019, according to research from Barclaycard, which cover £1 in every £3 spent on debit and credit cards in the UK. The upbeat spending [...]
FTSE 100 edges lower as investors dump housebuilders December 30, 2021 London’s premier index edged lower today driven down by investors selling off real estate stocks despite fresh data released today showing UK house prices are rising at the fastest pace since before the financial crisis. The capital’s premier FTSE 100 index closed 0.24 per cent lower at 7,403.01 per cent, while the mid-cap FTSE 250 [...]
UK house prices accelerate at fastest pace since before financial crisis December 30, 2021 UK house prices have accelerated at their fastest pace since before the financial crisis, shooting up over 10 per cent over the last year, reveal fresh figures released today. The cost of buying a home in Britain hit £254,822 this month, the highest price on record and up around £24,000 since December last year, according [...]
Small British businesses leave larger rivals riding their coattails December 30, 2021 Small British businesses are leaving their larger listed rivals behind by growing rapidly over the last half a decade, reveals new research released today. Revenue at privately owned and medium-sized UK companies jumped around a quarter over the last five years, compared to just four per cent growth at all FTSE 350 firms, according to [...]
London markets join global Santa rally December 29, 2021 London markets joined the global stock rally today after they missed out due to being shut at the start of the week for public holidays in the UK. The capital’s premier FTSE 100 index closed 0.63 per cent higher at 7,418.76 points, while the mid-cap FTSE 250, which is more aligned to the health of [...]
Omicron curbs and roaring inflation could tip economies into double dip recessions, warns World Bank top economist December 29, 2021 A return to strict restrictions on daily life to curb the spread of Omicron and roaring inflation could plunge the world’s leading economies into double dip recessions, according to the World Bank’s chief economist. Speaking to The Telegraph, Carmen Reinhart, the organisation’s top economist, said the emergence of the new strain of coronavirus and historically [...]
Poverty looms for millions of UK families as energy bills climb by £1200, inflation rises and taxes jump 1.25 per cent in 2022 December 29, 2021 Soaring energy bills, inflation and rising taxes are likely to lead to a ‘cost of living catastrophe’ for millions of UK families, an economic think tank warned this morning. The Resolution Foundation (RF) said from next April families would typically face a £1,200-a-year hit to their incomes as the energy price cap is raised and [...]
Gold hits a one-month high as inflation concerns mount December 28, 2021 Gold prices climbed this morning as the U.S. dollar weakened and concerns over Omicron led bullion's year-end rally to a more than one-month high.
South Africa demands compensation from UK for economic damage caused by Covid travel red list in response to Omicron variant December 27, 2021 South Africa is calling for compensation from the UK for the economic damage the country suffered after it was placed on Britain’s Covid travel red list in November. South Africa’s Department of International Relations is demanding compensation after the movement of people was severely restricted, saying Africa’s largest economy took a serious beating because of [...]
Mario Draghi and Emmanuel Macron call on EU to reform fiscal rules December 24, 2021 Italian Prime Minister Mario Draghi and French President Emmanuel Macron have called on the EU to reform its fiscal rules. In joint article published yesterday on the Financial Times, the two argued that even before the pandemic, the bloc’s fiscal rules were in need of reform as they are “too obscure and excessively complex”, constraining [...]