Wall Street edges higher as inflation fears fade while FTSE jumps June 11, 2021 Wall Street’s main indexes opened higher today after inflation data calmed concerns over a long-term spike in consumer prices. The Dow Jones Industrial Average was up 0.2 per cent, while the S&P 500 advanced 0.15 per cent at the open. Meanwhile, the tech-heavy Nasdaq edged up 0.1 per cent after a week in which tech [...]
UK car sales up eightfold as market recovers from last year’s skid June 4, 2021 UK car sales increased eightfold last month compared to a year ago as customers continued to return to showrooms and garages. There were 156,737 new cars sold in May, up from a mere 20,247 in the same month in the previous year, when showrooms were closed due to lockdown. However, the statistics, which are compiled [...]
Rishi Sunak defends Eat Out To Help Out but rules out repeat this summer March 12, 2021 The chancellor has defended last year’s Eat Out To Help Out scheme despite concerns it caused a spike in coronavirus cases, though he ruled out reintroducing it after lockdown restrictions are lifted. In evidence to MPs yesterday, Rishi Sunak that there was so much “pent-up” demand for meals and pints out among consumers that there [...]
UK households’ inflation expectations at highest in six years, survey reveals August 30, 2019 UK households are expecting inflation to rise over the next 12 months as the possibility of a no-deal Brexit increases. The public’s expectations for inflation are at their highest level since 2013, according to a survey from US bank Citi and pollsters YouGov, released on Friday. Read more: UK consumer confidence staggers in face of [...]
Cineworld shares fizz as big screen reopening drives ‘strong’ first weekend May 24, 2021 Shares in Cineworld pushed higher this morning after the cinema chain hailed a strong opening weekend in the UK following the easing of Covid lockdown measures. The cinema chain said its performance was led by the success of family hit Peter Rabbit 2: The Runaway, starring James Corden. Cineworld, which also owns the upmarket Picturehouse [...]
Andrew Bailey says there are some ‘hot spots for prices’ but plays down inflation fears May 24, 2021 Bank of England governor Andrew Bailey has warned there are some “very hot spots in terms of prices”, but that he is confident inflation won’t run well above the UK’s two per cent target in the long-term. Annual CPI increased from 0.7 per cent to 1.5 per cent in April, creating fears among some that [...]
Budget 2021: Four key issues for Rishi Sunak today March 3, 2021 Just a few months ago, Chancellor Rishi Sunak had hoped that his spring budget would be an opportunity to move the economic agenda away from Covid-19, and back towards the government’s ‘levelling up’ commitment. But as he prepares to announce his latest set of measures on later today, the reality looks very different. Despite the good [...]
City A.M. TV: A Market Snapshot May 21, 2021 Despite some giveback earlier this week, price action in markets has been reasonably encouraging for the bulls, especially in the past 48 hours. In particular, a number of major asset prices have tested, held, and rallied from key support levels this week (including the S&P500, the NASDAQ100, and Bitcoin). In the case of Bitcoin, the [...]
Exclusive: IPO frenzy gives investors confidence to back emerging markets, says venture capital boss May 25, 2021 2020 saw many businesses and the flow of consumer cash into the economy put on hold. In early 2021, after months of volatility, Covid-19 vaccines started to offer hope, with business sentiment slowly recovering, and growing ever more optimistic as forecasts remain strong, and new variants seem to be covered by the inoculations. IPOs and mergers and acquisitions continue [...]
Domestic cruises set to restart from 17 May March 9, 2021 Domestic cruises could restart in the UK along with the lifting of travel restrictions from 17 May, MPs were told today. Maritime minister Robert Courts told the All Party Parliamentary Maritime and Ports Group that such trips could restart along with domestic holidays from that date. A statement from the Department for Transport confirmed that [...]