Soaring fuel and clothes prices push inflation to 5.1 per cent, its highest level in a decade December 15, 2021 Spiralling prices in transport and retail have pushed inflation to its highest level for a decade piling pressure on the BoE to hike rates.
Hollywood Bowl brings home profits despite Covid closures December 15, 2021 Bowling operator Hollywood Bowl managed to bring home profits despite Covid restrictions halting business for the better part of the year. The company’s shares have gone down 0.87 per cent, to 227.50p. In its final results for the year ended 30 September, Hollywood Bowl registered a 0.9 per cent increase in its operating profit margin, [...]
Finance Bill: government accused of failing to make case for tax reform December 15, 2021 A Westminster committee has accused the government of failing to make an adequate case for its proposed reforms to the tax system.
London markets post mixed bag as investors mull Bank’s next rate move December 14, 2021 London markets were a mixed bag yesterday as investors mulled the Bank of England’s next move on interest rates. A strong jobs print boosted investor sentiment yesterday morning, lifting the capital’s main indexes. However, the FTSE 100 gave up morning gains to close 0.18 per cent lower at 7,218.64 points, as did the mid-cap FTSE [...]
Toyota invests $35bn in EV development to rival market players December 14, 2021 Toyota has announced it will invest $35bn in the development of electric vehicles (EVs), with the aim to rival some of the market’s biggest EV player such as Tesla. The sum will be divided between vehicle development – as the automotive giant aims to sell 3.5 million battery EVs per year by 2030 – and [...]
Equinor offers stake in North Sea oil field for $1bn December 14, 2021 Equinor is looking to offload a 19 per cent stake in the Martin Linge oilfield based in the North Sea, with the aim of raising $1bn in funds.
Crypto adoption in the financial sector poses a risk to the economy – BoE December 14, 2021 A BoE bigwig has warned that the increasing integration of crypto into the established financial sector poses a threat to the economy.
IMF takes swipe at Bank of England over rate inertia amid soaring inflation December 14, 2021 The International Monetary Fund (IMF) today fired a warning shot at the Bank of England, urging the central bank to hike interest rates now to tame runaway inflation. The world’s economic watchdog told the Bank it needs to “withdraw the exceptional support provided during” the Covid-19 crisis or risk facing spiralling inflation. In a stark [...]
Dual threat of Omicron and Plan B to destabilise UK jobs market recovery, warn City economists December 14, 2021 The dual threat of the Omicron variant and strict restrictions on daily life to curb its spread will smash the UK jobs market, City economists warned today. Measures to cut Brits’ social contact in a bid to quash the new coronavirus strain, including being encouraged to work from home, will hit retail, leisure and hospitality [...]
Rentokil’s shares plummet 13 per cent after pricey £5bn US expansion deal December 14, 2021 Rentokil's sahres have nosedived following a pricey acquisition of Terminix Global as it looks to swarm the US pest control market.