Wall Street Firms Warn Of Persistent Inflation With Oil Hitting $ 100 A Barrel – As It Happened | Business
Oil prices are rising again and Brent crude is not far from yesterday’s three-year high of $ 86.50 a barrel, at $ 86.13. US Light Crude is trading up 0.4% at $ 84.08. BlackRock spoke of a “high probability” of oil reaching $ 100 a barrel.
Retail sales in the UK picked up in October, according to a CBI survey, while supply shortages have worsened to the worst since 1985, when the survey began.
VAT on household energy bills will not be reduced in tomorrow’s budget, despite calls to support families hit by record energy costs, according to reports.
Here are our other main stories today:
Majority of Americans want oil and gas companies to be held to account for lying about the climate crisis and contributing to global warming, say a new YouGov poll commissioned by The Guardian, Vice News and Covering Climate Now.
The Premier Inn hotel chain is experiencing a faster-than-expected recovery and could return to pre-pandemic profits by next year as it raises wages and offers one-off bonuses to deal with staff shortages in the industry. hotel industry.
The Ikea owner bought Topshop’s former flagship store on Oxford Street, once the jewel of Sir Philip Green’s retail empire, for an estimated Â£ 378million, creating a new home in central London for the Swedish furniture brand.
Heathrow Airport has warned that air travel may not return to pre-Covid levels until 2026 despite improving passenger numbers over the past three months, as it reported losses since the start of the pandemic reached Â£ 3.4 billion.
Treasury documents have suggested that a return to work from home, a key part of Boris Johnson’s ‘plan B’ proposal to deal with rising Covid-19 cases, would cause up to $ 18 billion. pounds of damage to the UK economy over five months.
UK buyers have racked up more than Â£ 4 billion in debt so far this year after taking advantage of ‘buy now, pay later’ offers during the pandemic, according to a new study.
Thanks for reading and commenting. We will be back tomorrow. Bye! – JK