UK food standards under threat after years of Brexit chaos and Covid upheaval June 28, 2022 The UK is facing “significant risks” to its food standards following two years of upheaval, according to a new report. The Food Standards Agency (FSA) and Food Standards Scotland (FSS) released the first of what will be an annual report highlighting changes and challenges facing the UK’s food system. The two agencies said it comes [...]
Lethal mix of inflation and interest rates cause value of IPOs to nosedive by staggering 90 per cent June 27, 2022 Businesses have endured challenging times recently, largely caused by external world events. Because of this, investor appetite has decreased for IPOs. In fact, rising inflation and interest rates have caused the value of initial public offerings in the US and Europe to fall by a staggering 90 per cent this year. Despite these obstacles 157 [...]
Russia defaults on foreign debt for first time since 1918 Bolshevik revolution June 27, 2022 Russia has defaulted on its foreign debt obligations for the first time since the Bolshevik revolution in 1918. Sanctions launched by an alliance of western nations in response to Russian president Vladimir Putin’s invasion of Ukraine have hobbled the Kremlin’s access to its assets, meaning it has been unable to pay foreign investors. Moscow has [...]
High Street footfall nosedives by staggering 25 per cent with London commuters and foreign travellers not returning June 27, 2022 High street footfall fell 25 per cent in May, from the previous month, according to RSM UK’s analysis of the latest data from Datscha, published this morning. London continues to be hit by hybrid working with less workers commuting into the city, and international and business travel is still not back at full capacity. Whereas [...]
London’s FTSE 100 kicks off week strongly amid rebounding risk appetite June 27, 2022 Investors kicked off the week with strong risk appetite, boosting London’s top indexes. The capital’s premier FTSE 100 index climbed 0.89 per cent to 7,272.79 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.23 per cent to reach 19,359.73 points. The bullish start [...]
Exclusive: Brits’ patience with Bank of England and Bailey wears thin amid historic inflation crunch June 27, 2022 Brits’ patience with the Bank of England is wearing thin amid the worst inflation crunch in recent history, exclusive figures obtained by Morning Wire reveal. Some 44 per cent of households are unhappy with Threadneedle Street’s performance over the last year which has seen inflation soar from 2.1 per cent in May 2021 to a [...]
UK to tip into ‘mild recession’ as cost of living crunch cools spending June 27, 2022 Brits responding to the cost of living crisis by reining in spending may tip the UK into a “mild recession” next year, reveals fresh forecasts released today. The Bank of England embarking on a rapid interest rate hike cycle may also send the economy into reverse, according to a new report by consultants KPMG. Yael [...]
Investors pile into real assets amid equity market turbulence June 26, 2022 Investors are piling into so-called real assets this year as equity markets plunge amid soaring inflation and rising interest rates, new data has revealed.
Dealmaking drought set to continue amid recession fears June 26, 2022 A dealmaking drought is set to continue this year as firms batten down the hatches for a prolonged period of rampant inflation and stock market turbulence, analysts have warned.
World is staring down the barrel of new high inflation era, BIS warns June 26, 2022 The world risks being flung into a new era of persistently high inflation that will tip the global economy into a drawn out recession, one of the world’s top economic institutions has warned. Rampant price rises triggered by a series of economic shocks that have no “historical parallels” could become the norm, the Bank for [...]