Pound recovers as ONS admits its recession forecast was wrong

Pound recovers as ONS admits its recession forecast was wrong

Ggood morning. The pound is recovering as its early rally on Friday erased all the losses it suffered since Kwasi Kwarteng opened his speech last Friday. It comes as the new government yesterday sought to calm markets after the mini-budget caused turmoil. Liz Truss and Chancellor Kwasi Kwarteng will meet the chair of the Office…

The Bank of England warned of a pension fund crisis five years ago by Next

The Bank of England warned of a pension fund crisis five years ago by Next

“There is systemic risk in the UK financial system that nobody has done anything about – it is not properly regulated.” The LDI market has grown rapidly over the past decade and is now worth nearly £1.6 trillion, according to the Investment Association. In 2011 it was only about £40 billion. Lord Wolfson’s decision not…

A millennial owner says every entrepreneur should spend on this one thing

A millennial owner says every entrepreneur should spend on this one thing

For young people, business is the new 9 to 5, p 60% teenagers who say they want to start their own business instead of a traditional job. Given the uncertainty that business owners have faced over the past two years, Gen Zers can benefit from learning from professionals who managed to thrive during — and…

A relief for Channel 4 as the energy crisis puts privatization on hold

A relief for Channel 4 as the energy crisis puts privatization on hold

With ISBA claiming that the two broadcasters would control about 70% of the TV advertising market, the prospect of an investigation by competition authorities would be expected. The likelihood of such a merger winning regulatory approval appeared grim even before an attempt by French broadcasters to strike a similar deal collapsed on Friday. France’s TF1…

Asian markets open lower after price data hits Wall Street

Asian markets open lower after price data hits Wall Street

Asian markets fell lower on Wednesday after Wall Street fell the most since June 2020 as a report showed inflation was keeping a surprisingly strong grip on the US economy. Tokyo’s benchmark Nikkei 225 lost 2.8% to 27,816.58 in early trading on Wednesday, while Sydney’s S&P/ASX 200 fell 2.5% to 6,834.80. In Seoul, the Kospi…