The US jobs recovery stalled at the end of last year even as official figures confirmed annual record growth in employment numbers. Closely-watched data from America’s bureau of labour statistics (BLS) showed the world’s biggest economy added 199,000 jobs in December – well short of the 400,000 figure pencilled in by forecasters. Experts said a […]
View PostUS inflation has hit a 39-year high in the latest sign of a cost of living squeeze for consumers in the world’s biggest economy. Figures from America’s Bureau of Labor Statistics (BLS) showed consumer price index (CPI) inflation hit 6.8% last month, the biggest year-on-year surge in prices since June 1982. The reading, which was […]
View PostThe Bank of England has surprised investors and economists by leaving interest rates on hold at 0.1% for at least another month. However, the Bank used its quarterly Monetary Policy Report to signal that it was likely to increase borrowing costs in the “coming months”. The decision pushed the pound lower by two cents against […]
View PostThe FTSE 100 has hit a new post-pandemic high as rising oil and banking stocks helped it shrug off supply chain and inflation worries. London’s leading share index ticked up to as high as 7243.8 points during Friday trading, taking it above a previous peak in August to hit the highest level since February 2020. […]
View PostAmerica’s top diplomat in the UK has told Sky News that a comprehensive UK-US free trade deal is “not the be-all and end-all” of boosting trade between the two countries. Speaking to Kay Burley, Ambassador Philip T. Reeker, chargé d’affaires at the US embassy in London, said: “I think the focus right now is on […]
View PostPresident Joe Biden oversaw a rapid start to America’s vaccination programme, but progress has slowed hugely. The US has vaccinated just over 53% of its population, with 370 million doses administered. The US added far fewer new jobs this past month than anticipated, as a resurgent COVID-19 fuelled by the more transmissible Delta variant strikes […]
View PostAmazon is reportedly planning to open large department stores in the US as the online shopping titan expands further into physical retail. The stores will be about 30,000 sq ft in size and will offer products from well-known consumer brands, according to the Wall Street Journal. The first sites are expected to open in California […]
View PostWalt Disney Co’s revenue has beaten expectations in the third quarter, thanks to new streaming subscribers and the reopening of its theme parks. Overall revenue was up 45% to $17.02bn between April and July – higher than analysts’ estimate of $16.76bn. Net income was $918m in the three months, compared with a loss of $4.72bn […]
View PostThe UK economy grew by 4.8% in the second quarter of the year, according to official figures charting the fightback from the last lockdowns imposed on households and businesses to tackle the coronavirus crisis. The data from the Office for National Statistics (ONS) had been expected to show a hit in the final month as […]
View PostThe International Monetary Fund expects American output to grow 7% this year, its fastest pace since 1984, although the outlook has been complicated with a resurgence of coronavirus cases caused by the spread of the highly contagious Delta variant. Jobs growth in the US exceeded expectations last month while unemployment fell in a further sign […]
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