Inflation will keep breaching BoE target over next half decade September 17, 2021 Inflation will routinely breach the Bank of England’s target over the next half a decade, according to fresh data released today. The Bank’s latest survey on inflation expectations shows Brits think the rate of price rises will hit three per cent in five years’ time, one percentage point above the Old Lady’s target. Over the [...]
S4 Capital confirms tech merger after Covid-19 pushed ‘digital transformation’ September 17, 2021 Martin Sorrell’s S4 Capital has confirmed its brand Media.Monks’ merger with digital services firm Zemoga, to bolster its technology services across product design, engineering and delivery. The deal forms part of yet another bout of expansion for the advertising company. Sorrell earlier this week credited the Covid-19 pandemic with accelerating “the speed of digital transformation [...]
China: what zero tolerance, supply chain disruption and floods mean for economic growth September 17, 2021 | City Talk Ongoing disruptions mean that we have lowered our forecast for growth in China this year. Activity lost due to outbreaks of Covid and supply chain bottlenecks will be largely recouped, but the lagged effects of past policy tightening are only just starting to take effect. As a result we continue to expect growth to slow [...]
Rallying travel stocks lift London markets September 16, 2021 London’s FTSE 100 edged up today on a rally among travel stocks, helping to partly reverse yesterday’s poor performance. The capital’s premier index gained 0.16 per cent to hit 7,027.48 points, partly evening out losses registered on a choppy day on London markets yesterday. The likes of aerospace engineer Rolls Royce and British Airways parent [...]
UK economic growth to smash official forecasts this year September 16, 2021 The UK economy will grow faster than official forecasters expect this year and the rate of expansion will be higher in the long term, according to a new report released today. Ratings agency Fitch says the British economy will grow 6.6 per cent this year, higher than the Office for Budget Responsibility’s four per cent [...]
Polychain Capital leads $230m investment round in Avalanche September 16, 2021 Polychain and Three Arrows Capital have led a $230m investment round in the Avalanche network, buying up the company’s native crypto currency AVAX. R/Crypto Fund, Dragonfly and CMS Holdings were also among investors who bet big on Avalanche, an ultra fast, eco-friendly blockchain protocol which supports a growing ecosystem of DeFi projects. Proceeds from the sale [...]
Aviva makes £320m bulk annuity deal with pension fund September 16, 2021 Aviva has today announced the completion of a bulk purchase annuity deal, worth £320m, with the John Laing Pension Fund. John Laing, a manager of infrastructure projects, is an active investor in large transport, social and environmental infrastructure projects and renewable energy projects globally. The transaction marks the second buy-in between the two firms after the [...]
London’s Keystone Law boss eyes ‘busy market’ and post-pandemic recruitment September 16, 2021 London-headquartered Keystone Law has declared an interim dividend this morning, following six months of revenue growth and zero debt. The challenger law firm posted a revenue of £33.7m for the six months to 31 July, up more than 37 per cent in comparison to the first half of last year. As a result, Keystone has [...]
Ryanair shares soar as carrier aims to fly 225m passengers a year by 2026 September 16, 2021 Shares in Ryanair are flying today after it announced that it now expects to fly 225m passengers a year by March 2026, a 25m hike on its previous target. By the midmorning, shares were up 6.7 per cent. In a statement ahead of today’s AGM, the Irish carrier said that it now expected to see [...]
Power cable fire sends electricity prices higher again September 16, 2021 UK energy prices have continued to surge after a fire yesterday knocked out a crucial power cable that can supply electricity to 1.4m homes. Day-ahead power prices climbed 19 per cent on the back of the incident, with the “interconnector” not expected to be repaired until March. Gas prices closed in on £2 a therm, [...]