UK inflation hits 9 per cent: 40-year high as country wrestles cost of living crisis May 18, 2022 UK inflation has hit 9 per cent, a 40-year high, as the country wrestles with a cost-of-living crisis. Top economists have pegged inflationary headwinds to hit double figures by the end of the year, as food, energy and other household services and goods spiral in cost. Food products and metals have seen the largest leaps [...]
Investors look through inflation headwinds to focus on strong earnings May 17, 2022 Investors dismissed concerns over inflationary pressures firming in the UK economy and focused on a string of positive company earnings, lifting London’s indexes today. The capital’s premier FTSE 100 index climbed 0.72 per cent to 7,518.35 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Bets on US recession ‘badly misplaced’ after strong retail sales May 17, 2022 Bets on the US economy tipping into a recession “look badly misplaced” as consumer spending shows little sign of cooling amid historically high inflation That’s according to Wall Street analysts’ assessment of new retail sales data published today illustrating the US consumer is shaking off soaring living costs. Retail sales jumped 0.9 per cent over [...]
Wages trail inflation as Brits brace for cost of living crunch to enter most damaging spell May 17, 2022 Brits’ spending power is being crimped at a historic rate, but is set to plunge even quicker as the cost of living crunch enters its most damaging period, reveals official figures published today. Regular pay adjusted for inflation dropped at the fastest pace in nearly a decade over the last quarter to March, falling 1.2 [...]
Brexit: UK announces plan to kill off Northern Ireland protocol, outrage and disbelief in EU capitals May 17, 2022 Foreign Secretary Liz Truss just announced the Government’s intention to introduce legislation “in the coming weeks to make changes in the [Northern Ireland] protocol”. She told the Commons: “As the Prime Minister said, our shared objective has to be to find a solution that commands the broadest possible cross-community support for years to come and [...]
Exclusive: Forget expensive climate plans, low-cost solution to net zero is methane abatement, says Qnergy CEO May 17, 2022 It’s six months on from COP26 and the world is a very different place, but as the war in Ukraine continues and the cost of living crisis bites closer to home, the promises made in Glasgow still stand. Net zero is the big goal, but CEO of energy firm Qnergy, Ory Zik, told Morning Wire today he [...]
1 Minute Market Rundown – 17th May 2022 May 17, 2022 | City Talk Trade the ExtremesUSD Gives Up Some of its GainsCrypto Consolidates We highlighted in yesterday’s note that risk seemed a bit stretched and pondered whether we may be in for a rally. The question we are still trying to answer is if we have seen the low yet or not. Whilst we are still unsure, although [...]
Brexit tensions rising amid UK-EU trade war drawing closer as Britain plans to kill off Northern Ireland deal today May 17, 2022 Liz Truss is expected to announce the government’s intention to bring forward legislation which rips up parts of the UK’s post-Brexit trade deal on Northern Ireland. It is understood that the Foreign Secretary will make the announcement in a statement to the Commons following a full Cabinet meeting, in an attempt to restore power-sharing in [...]
Brexit: EU is causing serious political instability in Northern Ireland, warns former secretary of state May 17, 2022 Former secretary of state for Northern Ireland Theresa Villiers has slammed the European Union for its “unreasonable” approach on the customs protocol and said the Government is right to act unilaterally. Villiers said the government is correct to ensure national unity and that its proposals represent a reasonable compromise with the EU. “I’m sure negotiations [...]
London indexes muted ahead of week of jolting data May 16, 2022 London’s top indexes were muted today as investors eyed a week of flagship economic announcements. The capital’s premier FTSE 100 index climbed 0.63 per cent higher to 7,464.80 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, inched up 0.01 per cent to 19,924.11 points. [...]