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Scrapping coronavirus travel rules led to a 27-fold year-on-year increase in the number of overseas residents visiting the UK, new figures suggest.

The Office for National Statistics (ONS) said 2.1 million inbound visits were made in April, up from 81,000 during the same month last year.

Spending by overseas residents in April hit £1.7 billion, 14 times more than in April 2021.

This is a major boost for the UK’s tourism sector, which has been badly affected by the virus crisis.

But despite the increase in visits, the total was a third below pre-pandemic levels, with 3.2 million recorded in April 2019.

https://www.cityam.com/27-fold-jump-in-number-of-foreign-visitors-flocking-to-britain-post-pandemic/

It's better than looking across the pond or trying to compare with other airlines

Deutsche Bank's research confirms his advice and maintains his neutral opinion on the stock. The target price is reduced from GBX 155 to GBX 140

The nation’s major banks are in good shape and can withstand a severe economic contraction, the Federal Reserve determined Thursday.

The 33 largest banks received a passing grade from the Federal Reserve following the latest annual "stress tests."

Banks will announce their plans for dividends and buybacks on Monday.

https://www.google.com/amp/s/www.foxbusiness.com/markets/big-us-banks-pass-fed-stress-tests.amp

Looks like the strike dates will get released next week

Barclays on Friday said it is buying specialist mortgage lender Kensington Mortgage to take a bigger share of the UK housing market.

The deal is worth around GBP2.3 billion, Barclays said. It requires UK regulatory approval and is expected to complete at the end of the fourth quarter or in first quarter of 2023.

"The acquisition will enable Barclays to broaden its product offering and capabilities in the UK mortgage market, extend the number of customers we can serve and grow mortgage originations to better utilise our strong UK funding base," Barclays said.

Retail sales volumes fell by 0.5 per cent last month, according to the latest figures, as the cost of living crisis eats away at gains made in April.

While the figures suggest current inflation levels and concerns over a recession have Brits’ pinching their purse strings, sales volumes were 2.6 per cent above pre-pandemic levels, as the economy continues to reap rewards of pent-up demand post-lockdown.

The rising cost of food is said to have weighed on the sales figures, the Office for National Statistics said this morning, as the cost of living pushes people to spend around 1.6 per cent less in food stores.

Fuel sales also rose 1.1 per cent, despite increasingly high prices which have prompted automotive bodies to call on businesses to ease the financial strain on travellers.

Online shopping rates have also continued to fall from their lockdown-era heights, tumbling to 26.6 per cent of all retail sales in May – but remaining elevated in comparison with 2019.

SUFCESSEX

""Bit mean to judge him on only 12 months""

Maybe Lloyd's Executive Directors bonuses should be tied in with the performance of the SP

Wids
""It all counts for Jackchit in this macro environment - wiseup""

Barclay and NatWest just 2 banks iv looked at who's share price has gone up higher than pre pandemic levels and iv not going to mention the American banks

Charlie Nunn the new CEO on August 16 share price 45.63 today's share price 42.36 in that time interest rates have gone from 0.5% to 1.25 the company is half way through a £2 bn buyback, more high street banks have closed and yet this is down 7% hasn't he done well

call a strike when summer is over and no summer demand and the company is laughing

At least it will bring management back around the table it not looking good the CEO getting massive bonus on the back of cutting staff wages and job cuts during the pandemic plus they received millions of the government for furlough payments, then 6 months later air travel is 80% of 2019, IAG have a massive war chest to see them through the pandemic didn't have to make job and pay cuts and no flight's would of been cancelled

British Airways check-in and ground staff at Heathrow have voted overwhelmingly in favour of going on strike, causing more misery for holidaymakers already facing a summer of travel chaos. The GMB union announced

According to a report by Allied Market Research, the global market for luxury bags is expected to be worth a staggering $89.9 billion by 2026.

https://www.fidelity.co.uk/markets-insights/investing-ideas/shares/where-next-for-mulberrys-share-price/?utm_medium=share&utm_source=email&utm_campaign=share_btn

Duncan Brock, Group Director at CIPS, said:

“The economic uncertainty brought about by war disruptions, the cost of living crisis, and China's Zero Covid-19 policy, have all dampened business optimism to its lowest point since the start of the pandemic.
“New order growth was also at its lowest point since February 2021. The manufacturing sector was one of the worst affected, with new orders decreasing at the fastest rate for two years. The service sector fared better as hospitality and events businesses came roaring back to life after the end of multiple lockdowns. However, supply chain managers have expressed concerns over the current cost of doing business, with inflation hitting a 40 year high and businesses increasingly having to pass costs on to consumers.
“The supply chain squeeze seemed to have little effect on the job creation numbers as the UK saw the highest staffing increase since March this year. Though, this is most likely a sign of businesses making up for the staff shortages suffered earlier in the year. So, with business expectations now the lowest since May 2020, the next few months will be a true test for how sustainable this capacity building will be.”

Commenting on the flash PMI data,
Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said:

“The economy is starting to look like it is running on empty. Current business growth is being supported by orders placed in prior months as companies report a near-stalling of demand. Manufacturers in particular are struggling with falling orders, especially for exports, and the service sector is already seeing signs of the recent growth spurt from pent-up pandemic demand move into reverse amid the rising cost of living.
“Business confidence has now slumped to a level which has in the past typically signalled an imminent recession. The weakness of the broad flow of economic data so far in the second quarter points to a drop in GDP which the forward-looking PMI numbers suggest will gather momentum in the third quarter.
“While there are some signs that the inflation could soon peak, the survey data suggest the rate of inflation will meanwhile remain historically high for some time to come, indicating that the UK looks set for a troubling combination of recession and elevated inflation as we move into the second half of the year.”

Business expectations slump to weakest since May 2020 as new order growth loses considerable momentum in June

Key findings:
Flash UK PMI Composite Output Index(1) at 53.1 (May: 53.1). Unchanged since previous month.
Flash UK Services PMI Business Activity Index(2) at 53.4 (May: 53.4). Unchanged since previous month.
Flash UK Manufacturing Output Index(3) at 51.2 (May: 51.6). 16-month low.
Flash UK Manufacturing PMI(4) at 53.4 (May: 54.6). 23-month low.
Data were collected 13-21 June

June data indicated that output growth across the UK private sector was unchanged from the 15-month low seen in May. Resilient business activity trends were seen across the service economy as a whole, but manufacturing production growth eased further to its lowest since February 2021. Demand conditions remained subdued in June, with new order growth slowing for the fourth month running and to a greater extent than seen during May.
Worries about customer spending cutbacks and the impact of rapid inflation on the longer-term economic outlook led to another fall in business activity expectations. Optimism at UK private sector companies has declined in each month since February and is now the lowest for just over two years.

https://www.pmi.spglobal.com/Public/Home/PressRelease/834511f716ac401a8c27e90d556d6a8c

There's two different unions at BA, Unite voting for industrial action there ballot closes on Monday 27 June

Households across the UK spent 7.2% more in May on essentials, compared to the same time last year, while scaling back on non-essentials, as the increased cost of living continues to hit household spending.

According to the latest Lloyds Bank Spending Power report, 34% more was spent on energy this May compared to last May, and 6% more between April and May of this year as households feel the pressure from rising prices.

This meant the average person is now spending £57 per month on energy bills – up from £47 since the start of the year.

https://www.lloydsbankinggroup.com/media/press-releases/2022/lloyds-bank/households-adapt-to-cost-of-living-squeeze.html

Lloyds SP down again buyback are going well Lloyd's investors