US Federal Reserve to back up monster rate hike with another 75 basis point move July 25, 2022 The US Federal Reserve will back up its monster rate rise last month with another big 75 basis point hike this week as it chases down scorching inflation across the pond. That’s according to Wall Street analysts, who think Fed chair Jerome Powell and the rest of the federal open market committee (FOMC) will need [...]
Two-pronged or two-punch? Boris’ Plan B closes in December 16, 2021 The Prime Minister doubled down on his Plan B approach yesterday evening after daily Covid-19 cases hit a record high with 78,610 new infections on Wednesday. Chief Medical Officer Chris Whitty warned that more records would be broken, with the Government “throwing everything” at the new Omicron variant. While the exact ratios are not yet [...]
Letters: Don’t bite down on Bitcoin February 2, 2022 [Re: Britain will be left in the dust with our tepid attitude to cryptocurrencies, Jan 27] Matt Hancock claims the UK can become the home of fintech and crypto, but only with the right regulatory regime. The secret to that success is finding the right balance. As it stands, too little regulation is harming consumer [...]
Small businesses suffer unprecedented cost assault in sign of more economic woe April 25, 2022 Swelling costs are eating away at small businesses’ margins in a sign that a key engine of the UK’s recovery is beginning to stall, reveals fresh research published today. Nearly nine in 10 small businesses have experienced an uptick in their operating costs, squeezing their room to combat what is expected to be a weaker [...]
UK-based Chinese companies suffered from global instability last year, new research shows February 25, 2022 Revenues generated by Chinese companies working in Britain have dropped by almost a third, due to global instability and the impacts of Covid-19, according to new research. Chinese companies employed 61,000 UK residents contributed £63bn to the British economy in 2021, according to new figures from the Tou Ying Tracker. The £63bn in revenues generated [...]
Pubs and bars anxiously wait to see if Omicron headlines have impacted customer confidence December 1, 2021 Hospitality firms are anxiously awaiting to see if Omicron variant headlines have hit consumer confidence. The bosses of both Loungers’ and Marston’s told CityA.M. that it was too soon to tell if bar goers had been deterred from making trips to venues after news of a new Covid variant. Loungers’ CEO Nick Collins said he [...]
Easyjet ‘in right place’ to meet summer demand, says boss May 19, 2022 Easyjet is “in the right right place” to meet the summer demand, according to chief executive Johan Lundgren. The airline reported that bookings have been above pre-pandemic levels in the last 10 weeks, with the number of tickets sold increasing by 15 per cent on 2019 levels. Lundgren added the airline was “absolutely focused” on [...]
Week ahead: City’s gaze turns to fresh inflation figures February 13, 2022 All eyes in the City this week will be on fresh inflation figures as investors brace for another shocker of a print. Most economists expect inflation to firm even further, jumping to 5.5 per cent in January from 5.4 per cent in December. That would still leave the cost of living at around a 30-year [...]
Omicron delivers ‘chilling’ blow to UK retail sales December 21, 2021 UK retail sales have slowed to a crawl driven by the emergence of Omicron chilling consumer confidence, according to new research published today. Retail sales growth slowed over the last year, rising eight per cent annually in December, down sharply from 39 per cent in November, according to the Confederation of British Industry (CBI). Brits [...]
Liberal Democrats call for hospitality support amid ‘unprecedented rates’ of Christmas cancellations December 9, 2021 The Liberal Democrats have written to the government requesting urgent support for hospitality firms impacted by plan B measures. Pubs and restaurants in city centres have been concerned about a drop off in trade during what is usually their busiest time of year, following fresh work-from-home guidance. In a letter to the minister for small [...]