Ggood morning. The UK could be pushed into a recession as runaway inflation threatens to all but wipe out economic growth. KPMG has become the latest organization to sound the alarm, saying there was roughly a 50pc chance of Britain being tipped into a “mild recession”. It warned the UK was particularly vulnerable to a …
UK faces recession as inflation surges, warns KPMG Read More »
Ggood morning. The Government borrowed more than forecast in May, highlighting risks to the public finances as the cost-of-living crisis threatens to tip Britain into a recession. Rishi Sunak borrowed another £14bn last month, which was £2bn higher than economists had forecasts. Debt interest payments hit £7.6bn – the highest for any May on record, …
Germany triggers ‘alarm’ stage of emergency gas plan as Putin cuts supplies Read More »
Ggood morning. There’s no let-up in the latest inflation figures, which hit a new 40-year high in May. The consumer price index rose to 9.1pc last month, according to the ONS. That’s up from 9pc a month earlier. Prices rose 0.7pc in the month alone, which marks a slowdown from the 2.5pc pace recorded in …
Prepare now for Putin to cut off gas supply, Europe warned Read More »
LONDON — European stocks are expected to open in negative territory on Wednesday, giving up gains made in the previous session amid more positive global sentiment. The UK’s FTSE index is expected to open 45 points lower at 7,103, Germany’s DAX 112 points lower at 13,180, France’s CAC 40 down 56 points at 5,906, and …
European markets open to close, earnings, data, central banks Read More »
Ggood morning. Bosses have warned continued strikes will cause “incredible” damage to the UK in both the short and the long term. Businesses are braced for disruption as the biggest walkout on Britain’s railways kicks off today. The Center for Economics and Business Research have warned that the three strikes taking place today, on Thursday …
Ggood morning. There are some early signs of how inflation is hitting retailers after Tesco warned the cost-of-living crisis was forcing customers to cut back. Ken Murphy, chief executive of Tesco, warned the company was seeing “some early indications of changing customer behavior as a result of the inflationary environment” amid “unprecedented” increases in the …
Credit Suisse warns of ‘new world order’ in markets Read More »
LONDON — European markets were higher on Friday, looking for a rebound after a volatile week as global stocks reacted to policy tightening from major central banks. The pan-European Stoxx 600 gained 1.3% by mid-afternoon, with banks gaining 2.7% to lead gains as all sectors and major bourses traded in positive territory. In terms of …
The boss of Halfords has accused the Government of taking a “backwards step” with its decision to end the plug-in car grants scheme. The Government confirmed earlier this week that it was scrapping the £1,500 subsidy for purchases of new electric cars, saying it would “refocus” funding to encourage users of other vehicles to make …
Bank of England accused of ‘bottling’ interest rates after eighth new inflation forecast Read More »
Ggood morning. Britain’s tech sector has been given a welcome boost this morning after it emerged SoftBank is planning to list some of its stake in chip designer Arm in London. The Japanese conglomerate had been preparing an initial public offering in New York after a $40bn (£30bn) sale to Nvidia was blocked on national …
British tech giant Arm to list in London after sale blocked over national security Read More »
