Rolling coverage of the latest economic and financial news
Sterling is making a poor start to the new trading week, dropping by half a cent against the US dollar.
The pound has dropped to $1.358, wiping out most of Friday’s gains. Traders are watching political tensions built in Westminster, as the uncertainty over Keir Starmer’s future could weaken demand for UK assets.
Some of that [the pound’s weakness] is to do with the US dollar catching a bid on the reopen this morning on risk aversion flows after the Iranian response to the US peace plan.
“We know passengers want certainty when planning their hard-earned summer holidays, so we are supporting Government and airlines as they work through their plans to get passengers on their journeys.
While we have seen some short‑term disruption linked to the Middle East conflict, demand for travel remains strong with current fuel supplies stable. April was still our busiest month so far this year, underlining the strength of a global hub airport that can adapt quickly in times of uncertainty.”
163,000 jobs lost next year because of an Iran war? This is what happens when you cozy up to regimes that hate us. Starmer’s silence is deafening.
Pound dropping to $1.358 and wiping out Friday’s gains—traders are clearly spooked by the Iran fallout. My pension fund is taking a hit.
The insurance industry is recalibrating risk models for a changing climate. (8466a2)
The gig economy is rewriting the rules of employment and regulation is lagging. (3ab6be)
April was Heathrow’s busiest month, but how long can that last with oil prices jumping and tourists scared off by war? Short-term disruption my foot.
Cross-border investment flows are being redirected by geopolitical considerations. (d1359f)
Consumer confidence is fragile and that should worry policymakers. (bb1443)
Corporate balance sheets are healthy but the outlook remains cautious. (c40982)
Banking sector stability has improved but tail risks remain. (ca6ab3)