The front page of CITY AM reports on the junk food ad ban set to be introduced amid warnings from the industry that it could impact the economy.
Author: WTX Business Team
Business insights this week – 02/12/24 -WTX News Business Consumer confidence in the economy dips following Budget -CITYAM
French PM forces social security budget bill without a vote -Le Monde French PM Barnier announces concession in bid to end budget standoff -France24 What happens without a Social Security budget? -Le Monde
House prices rise at fastest rate in two years – Nationwide House prices rose at their fastest annual rate in two years in November as the housing market continued to display surprising strength. New figures from Nationwide show that house prices rose by 3.7 per cent year-on-year last month, up from 2.4 per cent the month before. This means that house prices are just one per cent below their all-time high recorded in the summer of 2022.…
Budget could wipe out 125,000 jobs in family businesses The government’s move to limit inheritance tax relief for family-owned businesses could cost Britain roughly 125,000 jobs and significantly reduce economic activity, new research has found. The change unveiled in Labour’s first Budget could reduce the value of goods and services produced across the UK economy by £9.4bn and incur a £1.3bn net loss for the Treasury between 2026/27 and 2029/30, according to a study by…
Consumer confidence in the economy dips following Budget Consumer confidence in the health of the economy dipped in November, a new survey shows, as the Budget failed to allay households’ economic fears. The British Retail Consortium’s (BRC) sentiment monitor showed that consumers’ confidence in the economy fell back to -19 in November, down two points from October. The reading confirms that households’ optimism in the economy remained relatively depressed throughout the autumn, having improved significantly…
Employer national insurance raid could lead to 130,000 jobs being slashed The government’s hike to employers’ national insurance could cost as many as 130,000 jobs, according to new research. Analysis from Bloomberg Economics suggests that up to 130,000 jobs could be lost if firms responded to the tax hike primarily by cutting employment. This would amount to a 0.4 percentage point increase in unemployment, and would likely encourage the Bank of England to cut interest rates faster than markets…
London maintains tech capital crown but New York threatens London has kept its title as the tech capital of the world in a closely-watched league table, while New York edged closer to reclaiming the crown. The Z/Yen Smart Centres Index – which ranks 77 global commercial hubs on their ability to create, develop and deploy tech – showed London remained in first place, a title it has held in the biannual ranking since overtaking New York last…
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…
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…
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…
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…