Dark clouds gather over the City as staggering 136 London-listed companies issue profit warnings July 18, 2022 As cost inflation bites and more and more Brits start thinking about their spending, a growing number of London-listed companies have issued a series of profit warnings this year. In fact, the number of firms which issued the warnings – always a headache for shareholders – jumped by 66 per cent in the first six [...]
Next boss Lord Wolfson: London’s High Streets had ‘more to worry about’ four years ago despite loss of brands like Topshop January 5, 2023 Next boss Lord Wolfson has “less reason to worry about the high street” compared to a few years ago, on the tail of a slew of household names shuttering. Physical retail was in a less concerning position than in recent years, when a switch to online shopping signalled a death knell for many staple retailers, [...]
27-fold jump in number of foreign visitors flocking to Britain post-pandemic June 24, 2022 Scrapping coronavirus travel rules led to a 27-fold year-on-year increase in the number of overseas residents visiting the UK, new figures suggest. The Office for National Statistics (ONS) said 2.1 million inbound visits were made in April, up from 81,000 during the same month last year. Spending by overseas residents in April hit £1.7 billion, [...]
Why Suez Canal disruption may not have a huge impact on inflation January 15, 2024 Disruption in the Suez Canal has caused widespread concern over the impact on inflation. However, the cause of those fears might not be justified.
Sheepish consumers deal blow to UK services economy August 3, 2022 Consumers cutting spending in response to a historic inflation surge has weighed on growth in the UK’s services economy, reveals a closely watched survey published today. Brits are being squeezed by soaring living costs eroding their incomes, prompting them to cut unnecessary spending to protect their finances. As a result, growth in the services industry [...]
Not all is doom and gloom: a recession is not the only possible scenario facing Britain November 2, 2022 The prime minister and the Chancellor are struggling to “balance the books”. Around £50bn might be needed from a combination of cuts to spending plans and increases in taxation. This has led to a chorus of voices squealing about austerity creating a major economic recession. The argument goes back to Keynes, writing in the aftermath [...]
FTSE 100 today: London markets set to open lower amid US rate cut and domestic political uncertainty May 29, 2024 Asian markets fell on inflation fears, IMF raised China's growth forecast. Investors await Fed speeches, Beige Book, Friday's PCE index.
Oxford St still feeling side effects of Covid as footfall recovery lags behind March 30, 2022 Oxford St has struggled to return to its pre-pandemic glory with football down 46 per cent on pre-Covid levels. Overall, high street footfall levels were down 23 per cent in February, according to an RSM analysis of data from Datscha. International travel restrictions have dampened the numbers of shoppers in central London hubs. Northern shopping [...]
Service sector dealt hammer blow as cost of living crunch sinks in June 7, 2022 The UK service industry was hammered last month, posting its worst performance for more than a year, as soaring inflation weighed down consumer demand. The closely-watched IHS Markit/CIPS UK services PMI survey scored 53.4 last month, tumbling from a 58.9 reading in April. Any score above 50 shows growth in the sector. However, this represented [...]
Week ahead: City braces for further inflation surge June 19, 2022 Investors are bracing for fresh data this week to point to a further surge in UK inflation, sending the rate of price rises beyond an already 40-year high. London’s FTSE 100 last week was caught up in one of the most volatile weeks for global stock markets since the early days of the pandemic. It [...]