Author: WTX Business Team
Jobs market gets Christmas boost from seasonal hiring The jobs market is benefiting from a pre-Christmas boost, according to new research from Adzuna. In October, there were 0.64 per cent more vacancies than there were six months ago, the first time the six-monthly reading has been positive in 2024. The reading suggests that the jobs market has stabilised compared to the first half of the year, which saw sharp falls in the number of new job openings. Around 23,000 Christmas jobs are on offer, Adzuna said, with the vacancies concentrated in retail and hospitality alongside the trade and construction sector.
Barclays fined over ‘reckless’ failure to disclose Qatar links The Financial Conduct Authority (FCA) has hit Barclays with a £40m fine today for failing to disclose ties with certain Qatari investors as it scrambled to avert a government bailout during the financial crisis. In a statement today, the City watchdog said the FTSE 100 lender’s conduct through during a capital raise in 2008 was “reckless and lacked integrity” and it welcomed a move by the bank to withdraw from challenging its decision in the courts. “The events in 2008 were of national importance as banks sought emergency recapitalisation,” the FCA said in a statement. “The FCA has…
Stocks making the biggest moves today Stocks making the biggest moves premarket: Alibaba, Applied Materials, Ulta Beauty and more Check out the companies making headlines before the bell: Applied Materials — Shares tumbled more than 8% after the semiconductor equipment manufacturer offered weak revenue guidance for the current quarter. Applied Materials said it forecasts $7.15 billion in the first fiscal quarter, under the estimate of $7.224 billion from analysts polled by LSEG. The company also reported better-than-expected fiscal fourth-quarter results and provided a strong outlook for adjusted earnings per share. Alibaba — S hares jumped more than 3% after the…
Asia-Pacific markets Live Updates shows the Asian markets mostly rose Friday on morning, tracking a rally on Wall Street that saw the S&P log gains for a fourth straight day. Asia-Pacific markets Live Updates Investors in Asia assessed Japan’s October consumer price index data. The core inflation, excluding volatile fresh food prices, rose 2.3% from a year ago, slightly above the estimated 2.2%, according to analysts polled by Reuters. That’s cooler than 2.4% in the previous month. The overall CPI came in at 2.3%, versus 2.5% in September. Japan’s Nikkei 225 jumped 0.79% Japan’s Nikkei 225 jumped 0.79% while the…
Stocks making the biggest moves midday: Nvidia, Palantir, Moderna, Ulta Beauty, Alibaba and more Market Insider Check out the companies making headlines in midday trading: Global pharma stocks — Shares of several vaccine makers declined after President-elect Donald Trump selected prominent vaccine skeptic Robert F. Kennedy Jr. as health secretary on Thursday. Shares of Moderna and Pfizer slipped 7.3% and 4.7%, respectively. BioNTech , which helped develop a Covid vaccine with Pfizer, shed 3.7%, while GSK declined 1.9%. Even names such as Eli Lilly and Novo Nordisk were lower, with both stocks slipping 3.4% and nearly 5%, respectively, amid concerns that…
The DOJ has proposed breaking up Google to curb the tech giants’ dominance in online search. In a court filing on Wednesday, the DOJ suggested that Google should be required to sell its Chrome web browser and end contracts that make its search engine the default choice on devices from companies like Apple and Samsung.
GKN Aerospace owner Melrose holds outlook despite supply chain challenges Melrose Industries said it is on track to hit looming profit targets despite the industry-wide supply chain challenges plaguing the aerospace sector. The Birmingham-based manufacturer said this morning it expects adjusted operating profit of between £550m and £570m this year and £700m in 2025. In an update to markets, Melrose flagged a seven per cent year-on-year rise in revenue, driven by a 17 per cent jump in its Engines division. Aerospace manufacturers, particularly the major planemaker’s Airbus and Boeing, have struggled to meet a significant ramp-up in post-Covid demand from…
UK inflation set to jump above target in headache for Rachel Reeves UK inflation is expected to have jumped above the Bank of England’s two per cent target in October, bolstering a cautious approach to cutting interest rates in the months ahead. A more gradual easing of monetary policy would be a headache for the new government, which has tried to reassure markets that last month’s big-spend Budget will boost economic growth without leading to runaway inflation. Economists forecast the consumer price index (CPI), due on Wednesday, to come in at 2.2 per cent for last month, up from 1.7 per cent…
Bank of England governor says Brexit has undermined UK economy The Bank of England governor has urged ministers to “rebuild relations” with the EU, warning that Brexit has undermined the UK’s economy. Speaking at the Mansion House dinner in the City of London on Thursday evening, Andrew Bailey said he took no position on Brexit “per se”, but added: “I do have to point out consequences.” He said Brexit had “weighed” on the economy, pointing out in particular the impact of Brexit on the UK’s trade in goods. “It underlines why we must be alert to and welcome opportunities to…
Reeves warns financial regulation has gone ‘too far’ in pledge to unleash the City The Chancellor Rachel Reeves warned that financial regulation had “gone too far” last night as she pledged to rip up red tape and put the City watchdogs on a growth footing. In her maiden Mansion House speech in the Square Mile, Reeves said that regulatory measures brought in since the financial crisis in 2008 have looked to “eliminate risk” and had “unintended consequences” in hampering growth. “We cannot take the UK’s status as a global financial centre for granted,” she said. “In a highly competitive world…
Andrew Bailey, Governor of the Bank of England, said inflation has fallen “faster than we expected” but still warned that more progress would be needed on services inflation.
The UK grew at a slower pace than expected in the third quarter, according to new figures, with business groups pointing to the impact of uncertainty ahead of last month’s Budget.