Opec’s leader defends massive oil production cuts, compares them to actions of central banks, as oil prices surge to a new 10-month high. Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, defended the Opec+ cuts, as Brent crude oil prices approached $95 per barrel. Oil prices have risen by over 30% since late June and …
Retail sales experience a strong rebound in August following a damp July. In other news, the Competition and Markets Authority has concluded its initial review of Microsoft’s acquisition of Activision for $69 billion. Additionally, gas prices are in the spotlight after Chevron workers agreed to end strikes at plants in Australia. Here are five key …
Last month, inflation experienced a decline to 6.7%, a significant drop from the peak of 11.1% in October of the previous year. While this high inflation provided additional tax revenue for the Chancellor, it also resulted in increased government spending on the national debt, which currently stands at £2.5 trillion. In this regard, the Office …
Welcome to this momentous day as the Bank of England is preparing to make its next announcement on interest rates. In a recent report from the Office for National Statistics, it was revealed that public sector borrowing in August saw an increase compared to the same period last year. With £11.6 billion borrowed last month, …
Welcome! Surprisingly, inflation has decreased just as the Bank of England gears up to announce its next move on interest rates. According to the Office for National Statistics, the consumer prices index rose to 6.7% in August, up from 6.8% the previous month. 5 captivating stories to kickstart your day 1) Sunak faces fresh inflation …
Thank you for joining us. A recent survey from Lloyds has revealed that bosses are currently facing a significant decrease in demand, comparable to levels experienced during the pandemic and in the aftermath of the global financial crisis. This decline comes as businesses anticipate a potential 15th consecutive increase in interest rates by the Bank …
The recent downgrade of America’s national debt by US credit ratings agency Fitch has sparked concerns about a potential “debt bomb.” This theoretical scenario involves a vicious cycle of borrowing to service debt, leading to higher interest rates, more borrowing, and ultimately a deep recession. There is also the argument that the US debt-to-GDP ratio …
Interest rates are expected to decline as inflation falls below the Bank of England’s 2% target in the coming years. This forecast indicates that share prices will be more positively affected than bond prices. Additionally, an accommodative monetary policy leading to an improving economic outlook is likely to enhance investor sentiment and encourage the purchase …
Join me as we explore the latest developments surrounding Britain’s biggest steelworks. Today, Tata, the Indian conglomerate that owns Port Talbot steelworks in south Wales, is set to announce the future of its operations. The government is prepared to inject £500m to support the production of “greener” steel. Tata has been engaging in discussions with …
Thank you for joining me. John Lewis attributes the two-year delay to its five-year turnaround plan to “inflationary pressures.” Additionally, the retailer has reported another loss for the first six months of its financial year. Start Your Day with These 5 Things 1) BP board facing questions over handling of Bernard Looney’s relationships with staff …