Moving markets: Five things shaping the FTSE 100 today February 5, 2024 Asian markets dip while oil prices hold steady amid Gaza ceasefire talks. Attention is on the RBA policy decision, China inflation, PMIs, and U.S. CPI
Is the future of banking online only? NatWest and Lloyds to axe 81 branches, taking this year’s total to 213. Here’s a list of closures: March 31, 2023 Two of the UK’s biggest banking groups have announced plans to make big cuts to their branch networks this year, cutting more than 80 sites from around the country. Lloyds Group and NatWest Group have said that the sites in England, Scotland, Wales and the Isle of Man will close between July and November this [...]
Lettuce remember: One year on from Liz Truss’ disastrous mini-budget September 22, 2023 One year on from the mini-budget, City A.M. takes a look at the fallout and asks whether Truss still has the ability to influence the Conservative Party going forward.
High street struggles: 2,000 local stores, pubs and hairdressers wiped away this year September 21, 2023 Nearly 2,000 independent local stores were left vacant in the first half of this year, as the cost of living crisis continues to eat away at the health of the high street and small businesses. Some 1,915 independent businesses on high streets, retail parks and shopping centres closed in the first leg of this year, marking [...]
This is a global, not a UK specific, economic slowdown October 24, 2022 Much attention has been devoted to the comings and goings at Number 10 Downing Street and the ailing economy in recent weeks, but the UK is not alone in wilting under the weight of soaring prices and interest rates. The eurozone economy, made up of the 19 countries that use the euro, is on course [...]
Terrible Thursday for Barratt as energy prices and inflation take their toll on Britain’s biggest housebuilder July 14, 2022 Barratt Developments revealed this a.m. the company is facing a rise in build costs of up to 10 per cent as soaring energy prices and inflation take their toll. Britain’s biggest housebuilder said build cost increases have escalated to between 9 per cent and 10 per cent, up from around 6 per cent over the [...]
UK inflation will top Bank of England two per cent target until end of 2024, EY claims July 24, 2023 Inflation will top the Bank of England’s two per cent target for over a year, hobbling UK economic growth and eroding workers’ finances, new forecasts out today claim. Prices are set to ease much slower than previously expected due to food and energy costs remaining elevated, according to consultancy the EY Item Club. UK inflation [...]
City eyes final economic data before Christmas shut down December 18, 2022 Although investors will be readying to get away over the Christmas break, there are a few economic data sets to get through before the City shuts down. Last week, London’s FTSE 100 index slumped nearly two per cent to close at 7,332.12 points as traders were bombarded by a barrage of global economic news. FTSE [...]
FTSE 100’s winners and losers in 2022 December 19, 2022 The Christmas lull is setting in. Investors are bracing to turn off their screens and get away from the daily City grind. Trading volumes on the FTSE 100 are thinning. It’s also that time of year when financial journalists pick through the UK’s worst (and best) performing stocks over the past 12 months. Without further [...]
Rich Brits only group to pocket disposable income rise as inflation chokes poorest families’ finances June 26, 2023 The richest households in the UK are the only group to have undergone a living standards improvement over the last year, while poorer families are being whacked by sky high energy and food bills, according to research out today. Top earners in Britain have seen their post-bill weekly income increase 2.1 per cent over the [...]