"However, the IMF warning that the UK will continue to see the highest rate of inflation in the G7 highlights why the Bank of England are likely to remain cautious in their approach going forward. Unfortunately, that inflationary push could continue in the years ahead if the latest commentary from British energy executives are to be believed, with testimony from Octopus Energy's Rachel Fletcher and Centrica's Chris O'Shea warning that renewable initiatives could push household electricity bills 20% higher within four to five years."
"The US-China spat looks set to take another turn after Trump warned that he could terminate the purchase of cooking oil in response to the recent collapse in Chinese purchases of US Soybean. Despite Trump's efforts to calm markets over the weekend, we have seen subsequent claims that China seeks to turn up the pressure by further deepening the trade conflict in the knowledge that it could spark a sharp slump in US equity markets."
"Earnings season has kicked off on a largely positive tone, with strong performance for the big banks. Nonetheless, despite the fact that all six of the major US banks reporting this week having topped earnings estimates, the fact that the sector has remained largely flat over the past week highlights the fact that much of the earnings strength will already be baked into the price."
European markets are treading water after Friday's selloff, with the FTSE 100 and DAX largely unchanged in early trade. UK GDP rose 0.1% in August, and year‑on‑year growth matched the IMF's 1.3% projection for 2025 and 2026. The IMF warns the UK will continue to record the highest inflation rate in the G7, supporting a cautious Bank of England stance. British energy executives warned renewable initiatives could raise household electricity bills by around 20% within four to five years. US‑China tensions escalated after Trump threatened to halt cooking oil purchases amid collapsing Chinese soybean demand, while major US banks beat estimates but the sector remained flat.
Read at London Business News | Londonlovesbusiness.com
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