UK Economy to Face Recession in Early 2023, Says Wells Fargo
UK Economy Expected to Fall Into Recession at 1H 2023
0740 GMT - There are increasing signs that a meaningful slowdown
in the U.K. is approaching, with the economy expected to face a
recession by early 2023, Wells Fargo international economist Nick
Bennenbroek says in a note. "With price pressures intensifying even
further over the balance of 2022... it seems clear that declining
real household incomes will weigh even more heavily on consumer
spending and overall GDP growth in the months and quarters ahead,"
he says. Wells Fargo expects U.K. economic growth to stall in 4Q,
while GDP is set to shrink by 0.4% in both 1Q and 2Q 2023. "Even
against this uncertain growth backdrop, intensifying inflation
pressures suggest the Bank of England will need to continue with
its monetary tightening cycle for a while yet," Bennenbroek says.
Mondi Completes Sale of Personal Care Components Ahead of
Mondi PLC said Friday that it has completed the disposal of its
Personal Care Components business to Nitto Denko Corp. for 615
million euros ($644.8 million) ahead of schedule.
Aston Martin Lagonda Regularly Monitors Funding Options; Trading
Aston Martin Lagonda Global Holdings PLC said late Thursday that
it regularly keeps funding options under review and that any
financing, if made, would be used to support and accelerate the
Itaconix 1H Revenue Hit Record High; Set to Meet Full-Year
By Sabela Ojea
M.J. Gleeson Meets Target With Sale of 2,000 Homes in FY
M.J. Gleeson PLC said Friday that it doubled home sales for the
financial year ended June 30 after completing the sale of 2,000
Lamprell Shareholder Considers Takeover Bid
Lamprell PLC's shareholder Sami Al Angari said Friday that it is
considering an offer to acquire the rest of the troubled United
Arab Emirates-based company.
Kazatomprom CEO Mazhit Sharipov Steps Down for Personal
NAC Kazatomprom JSC said Friday that Chief Executive Officer
Mazhit Sharipov will step down on Monday for personal reasons.
Braemar Shipping Says Performance Is Ahead of Expectations
Braemar Shipping Services PLC said Friday that its performance
in the year ending February 2023 continues to be strong and ahead
of management's expectations.
S4 Capital Agrees to Buy Marketing Agency XX Artists
S4 Capital PLC said Friday that it has entered into a deal to
buy the U.S.-based social-media marketing agency XX Artists to
combine it with Media.Monks.
Ukrproduct Suspends Shares as War Delays Audit, Hurts 2022
Ukrproduct Group Ltd. said Friday that it has suspended its
shares from trading because it can't complete its 2021 audit due to
the war in Ukraine, and that the current year's performance has
been hurt by the conflict.
CVS Group Says U.K. Watchdog Completed Investigation Over The
Vet Deal, Buys OCVC
CVS Group PLC said on Friday that the U.K. Competition and
Markets Authority has completed its investigation on CVS'
acquisition last year of Quality Pet Care Limited, which trades as
The Vet, and added that it has acquired OCVC Limited and that it is
currently performing in line with expectations.
Vertu Motors Buys Online Car Wiper Blades Business for GBP3.5
Mln -- Deal Digest
ACQUIRER: Vertu Motors PLC
BlueRock Diamonds 2021 Loss Narrowed, Fundraising Talks
BlueRock Diamonds PLC on Friday reported a narrowed loss for
2021 and said that it remains in talks to secure further
Block Energy to Step Up Drilling in 2022, 2023 -- Energy
Block Energy PLC on Friday reported a narrowed loss for 2021,
and promised to accelerate drilling in 2022 and 2023 to increase
oil production and target gas deposits. Here is what the
Georgia-focused oil-and-gas company had to say:
Pennpetro Energy Trading Suspended Due to 2021 Accounts
Pennpetro Energy PLC said Friday that trading in its shares has
been temporarily suspended as the U.K.-based company hasn't been
able to publish its 2021 accounts by the June 30 deadline.
Lamprell Shares Suspended Due to Delayed Publication of 2021
Lamprell PLC said Friday that its shares have been suspended
pending the release of its 2021 results.
Contact: London NewsPlus; email@example.com
(END) Dow Jones Newswires
July 01, 2022 03:59 ET (07:59 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
From Jul 2022 to Aug 2022
From Aug 2021 to Aug 2022