UK recovery blinks in the face of supply chain breakdowns leaving economy stumbling behind G7 rivals November 11, 2021 The UK economic recovery is blinking in the face of severe supply chain breakdowns and soaring inflation, leaving Britain stumbling behind its G7 rivals. Over the three months to September, the British economy grew 1.3 per cent, much lower than experts’ expectations, according to the Office for National Statistics (ONS). Worryingly, the ONS revised down [...]
Global inflation tiger proves hard to catch as US prices rise at fastest rate in 30 years November 10, 2021 The global inflation tiger has been let out of the cage and is proving difficult to catch, scuppering bets from central bank wonks on price rises being temporary. Soaring energy prices, compounded by supply chains buckling under the weight of a resurgence in global demand as economies emerge from the pandemic has driven up prices [...]
Brussels gives City firms extension on clearing deadline November 10, 2021 Brussels has yielded to demands from City firms to allow them to continue to provide a crucial service that keeps financial markets well oiled. The European Union has given British financial institutions more time to provide crucial clearing services to clients in the bloc. The extension was granted due to a lack of capacity within [...]
Investors must buckle up as inflation-triggered volatility is set to shake markets, warns City insider November 10, 2021 Investors must avoid complacency and buckle up as inflation-triggered volatility is set to shake markets until the end of 2021, an asset management veteran warns today. The warning from Nigel Green, chief executive and founder of deVere Group, a large asset management and fintech firm, comes as Chinese stocks plummeted to almost their lowest level in [...]
What analysing language tells us about inflation November 10, 2021 | City Talk With the headline consumer price index (CPI) rate at a 13-year high in the US, it is not surprising that companies are talking more about inflation. It’s not just business surveys that show us this. You can also see it by looking at the transcripts of what the management teams of publicly-listed companies have talked [...]
Mel Stride MP: It’s hard to see an ‘easy glide path’ to tax cuts November 10, 2021 The chief of an influential parliamentary committee that scrutinises the government’s spending plans has expressed his distaste at the tax burden swelling to its highest level since the 1950s. Speaking to Morning Wire, Tory MP Mel Stride, who chairs the Treasury Committee, expressed concerns over Chancellor Rishi Sunak’s decision to finance a ramping up of [...]
Tsunami of resignations in war for talent hampers businesses’ growth across UK November 10, 2021 Fierce competition for talented new hires is forcing business leaders across the UK to compromise on the quality of their recruitment, while almost half saying they are not confident in being able to attract the right talent to fulfil their businesses growth potential. A wave of resignations, by professionals joining another company or making a [...]
China factory prices climb at fastest pace in over 25 years November 10, 2021 Factory gate prices in China are soaring at the fastest pace in over two and a half decades. The world’s second largest economy posted a 13.5 per cent annual jump in prices for raw materials last month, strengthening the prospect that China could export fiery inflation across the world. October’s reading was the highest since [...]
This is not just results: London markets boosted by M&S profit hike November 10, 2021 UK retail institution Marks and Spencer boosted London markets during the opening session today as investors poured into the stock after it hiked its profit outlook. The capital’s mid-cap FTSE 250 index, which M&S is listed on, advanced 0.34 per cent to 23,445.61 points. The premier FTSE 100 index was up 0.33 per cent to [...]
Brexit in the City: New powers for watchdogs FCA and PRA as UK moves away from EU rules November 10, 2021 The City’s main regulators, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), will be given new powers to set rules as the UK moves away from the EU framework after Brexit, according to Government proposals. Regulators will be required to consider how the UK’s financial sector can grow and compete internationally when setting [...]