Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
How does one even begin to make provisions for that.....
DYOR
Bailey, BoE will cry wolf one too many times...and It will get messy.
DYOR
Sweden, the epicentre of Europe's property crisis, faces a make-or-break year...
Swedish Landlords Face Crunch Year With $12 Billion Debt Wall, Seizure at Stockholm landlord shows creditors are ready to act.
Next year will be a critical test for Sweden’s property market.
DYOR
Attacks in the Red Sea linked to the Israel-Hamas war will cause shipping delays and drive up the price of goods, bringing a new inflation risk to the economy..
DYOR
As with Lloy, UKX overbought...
DYOR
Skier1 "The technical chart does have a nice shape to it and looks ready to bowl over the 8000 level."
care to elaborate on that..
DYOR
Stock market signal with a 100% accuracy rate is flashing and points to record highs in 2024.
https://markets.businessinsider.com/news/stocks/stock-market-outlook-2024-new-highs-extremely-rare-signal-sp500-2023-12%3Cspan%20id=%22ms-outlook-android-cursor%22%3E!~OMSelectionMarkerEnd~
DYOR
.. Warns of ‘early signs of stress’ at euro zone banks as default rates rise
Financial stability review signals risks to public finances and corporate revenues.
DYOR
... borrowing near record high for October.
The UK government borrowed £14.9bn in October, more than analysts expected and the second-highest figure for the month, according to official figures that confirm the continued pressure on public finances.
In the financial year to October, the deficit was £98.3bn, £21.9bn more than in the same seven-month period last year but less than forecast by the Office for Budget Responsibility in March
DYOR
""When Rishi Sunak pledged in January to halve inflation by the end of the year, many experts were already forecasting the rate would drop.
Responding to the latest figures, the prime minister said the pledge had been his "top priority" and required "hard decisions and fiscal discipline".
Chancellor Jeremy Hunt added that government had played an "important role" by being "disciplined on spending, helping people into work and resisting calls for additional borrowing".
But Labour's shadow chancellor Rachel Reeves said that while lower inflation would grant "some relief for families", now was not the time for Conservative ministers to be "popping champagne corks and patting themselves on the back".
Despite October's fall, the UK is still some way off meeting the Bank of England's 2% inflation target and the Bank's policymakers have pointed out in recent weeks that interest rates are unlikely to be cut in the near future.
The ONS said that energy and food prices were still above where they were two years ago. It is also possible that the energy price cap for next year, which is unveiled next week, could show energy prices are set to rise again.
UK inflation also remains higher than other countries including the US, France and Germany".
DYOR
""UK inflation fell sharply in October to its lowest rate in two years, largely due to lower energy prices.
Inflation, which measures the rate at which consumer prices rise, dropped to 4.6% in the year to October, down from 6.7% the month before.
The figure means a government pledge to halve inflation by end of the year has been met early.
But there is a limit to how much credit ministers can take for the fall as energy prices settle.
Economists have said the main reason inflation has fallen from its peak of 11.1% in October 2022 is due to a fall this month in the energy price cap, which limits what suppliers can charge consumers per unit of energy.
They also note the Bank of England's decision to raise interest rates, in a bid to cool demand in the UK economy and slow price rises.
Rates are currently at 5.25%, a 15-year high, which has pushed up mortgage costs but also meant higher savings rates.
Grant Fitzner, chief economist at the Office for National Statistics (ONS), said inflation fell as "last year's steep rise in energy costs has been followed by a small reduction in the energy price cap this year".
What is the UK inflation rate and how does it affect me?
How much are prices rising for you? Try our calculator
He added food prices were little changed last month, but said hotel prices had fallen.
Although the signs point to the cost of living easing, many households will not feel better off, especially when it comes to energy bills.
Despite gas and electricity prices being lower than last year, most households will actually pay more for energy this winter than last because government support for bills is no longer in place.
Falling inflation also does not mean that most goods and services are cheaper to buy, rather that prices are rising less quickly.
'Legacy of higher prices'
James Smith, research director at the Resolution Foundation think tank which focuses on the living standards of people on low-to-middle incomes, said "the cost-of-living crisis is far from over".
"The scale of Britain's inflation shock has left a legacy of far higher prices," he said.
"Over the past two years, the cost of energy has surged by 49% while food prices have risen by 28% - far greater than the 14% in average earnings over this period."
Dave Golding, manager of the Patch food bank charity in Milford Haven in Wales, said people were still under pressure from higher food and energy costs, with the charity set to have provided 150,000 meals this year.
"We had a record year last year for food parcels and I don't think that will change much this year," he told the BBC.
"A lot of people are trying to be careful with their energy budget. People struggle to have the cooker go on for a full-blown meal."
DYOR
Sharply to 4.6% as energy prices ease.
https://www.bbc.co.uk/news/business-67412740
DYOR
..so if the Tories lose the election the nation is thick, the same nation that voted the Tories in....hmmmmm.
DYOR
Skier1, if it walks like a duck, talks like a duck then it's a duck!
DYOR
NOM "Gate13Boy,
May 2010 CONservatives take power, SP was 52p. 13 years later, the SP is down 20%. Do you really think it is going to be that difficult to do better?"
😂🤣😂🤣
D....
To ‘mark the start of a mild recession’..
New figures out on Friday are expected to show that the economy contracted in the third quarter, raising the possibility that the UK is already in a recession.
City economists expect that UK GDP shrunk by 0.1 per cent in September, meaning that the economy will have contracted across the third quarter by the same amount.
This is a more pessimistic view than the Bank of England’s forecasts, released last week, which suggest the economy will be stagnant in the third quarter.
Weaker household spending, lower business investment and falling government consumption will be “driving the drop in demand,” according to Sanjay Raja, chief UK economist at Deutsche Bank.
He said that a worse performance in September could “spell some bad news” for the remainder of the year due to carry-over effects. This raises the risk that the UK will enter a technical recession, when there are two consecutive quarters of negative growth.
Paul Dales, chief UK economist at Capital Economics, predicted a larger 0.2 per cent quarterly contraction. He cited “the growing drag from higher interest rates” as a key contributor to stumbling growth.
Interest rates have been hoisted to a post-financial crisis high of 5.25 per cent in an attempt to combat inflation. While markets are increasingly convinced rates have hit a peak, the Bank of England stressed that it is still far too early to talk about cutting rates.
The higher cost of borrowing has brought economic activity to a near stand-still. Consumption, which makes up a large part of domestic demand, has been hammered by the rapid rise in interest rates.
Recent figures from the Office for National Statistics (ONS) showed that consumers had been cutting back on spending by more than expected in September, with retail sales falling 0.9 per cent.
Despite a slow turnaround in manufacturing and improvements in trade and business inventories, Dales said Friday’s figures would “mark the start of a mild recession”.
Although the UK has outperformed expectations so far this year, forecasters are painting an increasingly bleak picture for the economy over the coming years.
With increasing numbers of households moving onto mortgages with much higher levels of interest payment, higher interest rates will continue to constrain consumer spending in the months to come.
The Bank of England expects GDP to remain stagnant next year. Recent forecasts from the International Monetary Fund (IMF) suggested that the UK would be the worst performing advanced economy over 2024.
https://www.cityam.com/new-uk-growth-figures-to-mark-the-start-of-a-mild-recession/
DYOR
RR78 "wedding"
I'll give it six months ..😂
D....
""'An economic bellwether'
Russ Mould, investment director at AJ Bell, said Maersk's latest results suggested "the global economy is losing speed".
"If you want an economic bellwether, look no further than Maersk, as its status as one of the world's largest container shipping companies makes it a fair proxy for global growth," he said.
"Transportation demand will be strong if the economy is going well, but the opposite will apply if there are clouds on the horizon."
In the three months to September, Maersk's pre-tax profits fell to $691m compared to $9.1bn in the same period last year. Sales dropped to $12.1bn from $22.7bn.
Mr Mould said the current situation with container shipping was being made worse due to overcapacity in the industry, which he said was "great if you are the person paying to move goods from A to B as it should enable you to barter for a lower price, [but] terrible if you're the one owning and operating the ships".
'Cost of shipping has collapsed'
Last week Garry Grant, founder of The Entertainer toy company, told the BBC's Today programme the cost of freight for the retailer's goods had "collapsed over the last six months, back to the pre-pandemic levels".
He said the cost of one container was about $2,000 now compared to $18,000 a year ago, which he said had "really helped us to enable us to bring down some prices and, in most cases, make sure that prices haven't gone up".
Following Maersk's results, shares in the group slid 11.1% early on Friday.
The firm said it would maintain its expectations for revenue and profits, but warned both figures would land at the lower end of its estimates.
Furthermore, it cautioned that "a slowing global economy, risks of financial stress and a long list of geopolitical tensions, ranging from tense China-US relations, war in Ukraine and in the Middle East can wipe out the improvements expected" in the final three months of this year as well as volumes in 2024.""
https://www.bbc.co.uk/news/business-67307248
DYOR
Maersk cuts 10,000 jobs as shipping demand falls...
DYOR
Livestock "Economists on Bloomberg saying this is the start of the Santa rally 📈🤞"
I will go with anything anyone of them bloombirds said...😊
DYOR