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Pound endures week of misery amid gilt sell-off

January 9, 2025

The pound came in as the worst-performing G10 currency for a second day running yesterday, as the gilt market continues to trade at decade-long highs. After spiking as high as $1.255 on Tuesday, the pound has since fallen to $1.229, its lowest point since October 2023. “What makes the current situation particularly noteworthy is that [...]

Tiktok looks to overturn US ban amid concerns over Chinese influence

January 9, 2025

TikTok representatives are set to appear before the US Supreme Court on Friday, in a final effort to overturn a ban which could force the app out of the States by 19 January, unless it demerges from its Chinese parent company. The case pits national security concerns against First Amendment rights, reported BBC News, where [...]

Sainsbury’s staff set for pay hike after bumper Christmas

January 9, 2025

Retail giant Sainsbury's claims to have won the grocery market share for the fifth consecutive Christmas, with sales up nearly four per cent

MOD urged to learn from Ukraine’s war with Russia and ’embrace AI’

January 9, 2025

The ministry of defence (MOD) has been urged to swiftly adapt to artificial intelligence (AI)’s potential in defence to avoid falling behind its global adversaries. According to the Defence Committee’s recent report, the MOD should learn from Ukraine’s use of AI on the battlefield, embracing it as a core part of its operations and strive [...]

Government announces post-Oasis ticket resale clampdown

January 9, 2025

The government has said it will intervene to tackle ticket touts after a recent wave of frustration around inflated resale prices. As part of the government’s broader Plan for Change, a public consultation has been announced to stop exploitative practices in the ticket resale market and to improve transparency for fans. The announcement comes after [...]

FTSE 250 closes down four per cent in worst week since 2023

January 9, 2025

The FTSE 250 fell almost four per cent this week, experiencing its worst week since August 2023 as fears mount over the stability of the UK economy. With pound sterling sinking and UK gilt yields rising to decade-long highs, investors have begun to panic that the UK economy and government are coming under pressure. “The [...]

Rachel Reeves or Liz Truss: Who really ‘crashed the economy’?

January 9, 2025

Amid UK bond market turmoil, how does Reeves' budget compare to Truss' - and who is really responsible for 'crashing the economy'?

British Gas owner Centrica: UK has less than a week’s worth of demand for gas in store

January 9, 2025

UK gas stores have fallen to “concerningly low” levels amid freezing cold temperatures, the owner of British Gas has said. Centrica said the UK now has less than a week’s worth of demand for gas in store. On Thursday, stocks at UK gas storage sites were 26 per cent lower than the same period last [...]

AIM: IPOs on London’s junior market stayed at rock bottom

January 9, 2025

The number of IPOs on AIM has continued at its record low numbers in 2024, sailing below the level of the financial crisis. IPOs on London’s junior stock market totalled just 11 last year, the same number as in 2023 and below the 13 recorded during the 2008 financial crisis. While the amount of money [...]

Elizabeth Line has helped create 400k jobs in and around London

January 9, 2025

The area around the City of London’s Liverpool Street Station has been one of the biggest benefactors of the new Elizabeth Line research shows. London’s most popular route has carried more than 0.5bn passengers since its inception. Fresh figures from Transport for London (TFL) and Arup show Crossrail has helped create thousands of new jobs by [...]

Lawyer hourly fees at US firms boom

January 9, 2025

The hourly fees charged by lawyers in the US have jumped nearly seven per cent in the last year, the fastest rate since the global financial crisis

Former Wales First Minister Carwyn Jones joins City of London PR firm

January 9, 2025

Former First Minister of Wales Carwyn Jones has been hired by a City of London PR firm. Lord Jones, who was made a life peer at the end of 2024, has been hired by NorthPoint Strategy as a senior counsel. NorthPoint Strategy’s clients include Polygon, UK Cryptoasset Business Council, Andreessen Horowitz and CEO Club Ukraine. [...]

Los Angeles wildfires could result in $15bn US insurance losses

January 9, 2025

Early estimates of the wildfires engulfing Los Angeles county may rapidly deplete the catastrophe budgets of US primary insurers

Property analysts forecast strong spring as stamp duty deadline looms

January 9, 2025

Activity in the UK’s property market closely followed government policies on tax last year, something set to continue as the reality of the stamp duty deadline sinks in for first-time buyers. Real estate experts have predicted a burst of activity in early spring ahead of the end of stamp duty relief for first homes, which [...]

Boots warns of higher Budget costs amid sales surge

January 9, 2025

High street pharmacy giant Boots has warned it faces “heightened cost pressures” in 2025 following the Autumn Budget as it revealed strong sales towards the end of last year. The new boss of the Nottingham-headquartered company, Anthony Hemmerdinger, added that while Boots has come under increased pressure, “the business is focused on navigating these and [...]