Discounters Aldi and Lidl keep taking market share as Brits now pay £571 more for groceries September 13, 2022 Discounter Aldi has become Britain’s fourth largest supermarket for the first time while Lidl’s market share is also in the lift, according to new data out this morning. The findings come as Brits are now paying a record £571 more on average for their groceries than last year Grocery price inflation hit 12.4 per cent [...]
Woodford fund administrator could face £306m bill, FCA says September 12, 2022 The administrator of Neil Woodford’s collapsed investment fund could be forced to dish out compensation payments of up to £306m, the Financial Conduct Authority said today.
London’s FTSE 100 bounces despite GDP undershoot September 12, 2022 London’s FTSE 100 bounced today despite new figures revealing the UK economy is much weaker than expected. The capital’s premier index climbed 1.66 per cent to 7,473.03 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged 1.7 per cent to 19,513.87 points. Traders shook [...]
UK and European energy price freezes may trigger blackouts, Goldman warns September 12, 2022 UK and European governments freezing energy prices risks blanketing the Continent in power blackouts, a Wall Street investment bank has warned today. Keeping energy bills artificially low is likely to stimulate energy demand, possibly causing supplies to run dry, Goldman Sachs said in a note to clients. “With interventionist policies announced so far prioritising capping [...]
Ministers meddling in regulation is ‘recipe for disaster’, says former FCA official September 12, 2022 Government plans to exert greater control over financial rule-making are a “recipe for disaster”, a former senior regulatory official warned today, as the government looks to grant itself powers to overturn decisions made by independent City watchdogs.
Streamline rules to boost barren IPO market, says Numis exec September 12, 2022 Watchdogs must roll out “simpler and more flexible” regulation in order to reinvigorate London’s barren initial public offering market, the investment banking chief of broker Numis said today.
EU urges Britain to cut Brexit checks at border to ‘a couple of lorries a day’ September 12, 2022 Checks on goods travelling across the Irish Sea should be cut to a “couple of lorries a day”, the EU’s chief negotiator on Brexit said today. Maros Sefcovic said the union stands ready to work in a “open and constructive way” with Britain following a statement from the new Prime Minister on the prospect of [...]
UK economy already in throes of drawn out recession, City warns after GDP disappoints September 12, 2022 The UK economy is already in recession and Liz Truss’s energy support package is unlikely to lift it out of its slump anytime soon, City economists warned today. Weaker than expected growth figures from the Office for National Statistics (ONS) today prompted experts to sound the recession alarm. Gross domestic product (GDP) climbed 0.2 per [...]
London’s economy powers through August in ‘growth mode’ as UK stalls September 12, 2022 London’s economy powered through August in “growth mode” despite the UK stalling, a new survey published today reveals. High street bank NatWest’s London purchasing managers’ index (PMI) remained in positive territory in August at 54.9. However, the PMI dropped sharply from 58 in July and was the weakest reading in nearly a year and a [...]
Meet the duo explaining the ‘dismal science’ 10 points at a time September 12, 2022 People think economics is boring. It’s all about finance. It’s all about money, they say. It’s tough to argue with them given the subject’s nicknamed the “dismal science”. But, two secondary school teachers are on a mission to change people’s minds about that. Peter Clift (Pete) and Gavin Simpson (Gav) and are the hosts of [...]