UK Recession Expected to Be Deeper Than in Most Advanced Economies
UK Recession Expected to Be Deeper Than in Most Advanced
0837 GMT - The U.K. economy is set to fall into a recession,
which is likely to cause a 2% peak-to-trough fall in GDP, a bigger
slump than what is expected in other advanced economies, Pantheon
Macroeconomics senior U.K. economist Gabriella Dickens says in a
note. Household finances will be hit hard by the rapid withdrawal
of energy bills support, while higher interest rates will also
squeeze incomes of those who have to refinance their mortgage, she
says. Better news might come on the inflation front, as price
growth has likely peaked and is expected to fall fast in 2023,
Dickens says. Pantheon expects inflation to average 6.5% in 2023,
less than the 6.9% consensus estimate from economists taken from
Vodafone CEO Nick Read Steps Down; CFO Named as Interim
Vodafone Group PLC said Monday that Nick Read has agreed to step
down as chief executive and that current Chief Financial Officer
Margherita Della Valle has been appointed as interim chief
Wentworth Resources Agrees to GBP61.7M Takeover by
Etablissements Maurel Et Prom
Wentworth Resources PLC said Monday that it has agreed to a 61.7
million pound ($75.9 million) cash takeover from Etablissements
Maurel et Prom S.A.
Avon Protection to Sell Lexington Facility Assets for 'Modest'
Avon Protection PLC said Monday that it is selling the assets of
its Lexington facility in the U.S. for "a modest cash
consideration" to advanced ceramics-materials manufacturer CoorsTek
Keywords Studios to Buy Helpshift for Up to $75 Mln
Keywords Studios PLC said Monday that it has agreed to buy
Helpshift, Inc. for up to $75 million to expand its player support
and engagement capability.
Condor Gold Seeking to Raise up to GBP4.0 Mln via Open Offer
Condor Gold PLC said Monday that it is seeking to raise up to
4.0 million pounds ($4.9 million) via an open offer to
shareholders, as first flagged last week.
RBG Holdings Sees Adjusted Ebitda Behind Views After LionFish
RBG Holdings PLC said Monday that it now expects adjusted Ebitda
to be materially behind market consensus expectations for 2022
after losses at its litigation finance subsidiary LionFish.
A.G. Barr Buys Boost Drinks for Up to GBP32 Mln
A.G. Barr PLC said Monday that it has bought beverage group
Boost Drinks Holdings Ltd. for up to 32 million pounds ($39.3
Equals Group Expects to Beat 2022 Market Views
Equals Group PLC on Monday said it expects its full-year result
to come ahead of current market expectations, boosted by an
increase in revenue.
National Express Appoints James Stamp as Permanent CFO
National Express Group PLC said Monday that it has appointed
James Stamp as group chief financial officer with immediate effect,
having held the role on an interim basis since Nov. 1.
Bigblu Broadband Buys Australia Satellite Operations for A$5.2
Bigblu Broadband PLC said Monday that it bought the satellite
operations of a subsidiary of Uniti Group Ltd. in Australia for up
to 5.2 million Australian dollars ($3.5 million).
Pod Point Appoints David Wolffe as CFO
Pod Point Group Holdings PLC said Monday that Chief Financial
Officer-Designate David Wolffe has been appointed as chief
financial officer, effective Jan. 3.
Contact: London NewsPlus; email@example.com
(END) Dow Jones Newswires
December 05, 2022 03:53 ET (08:53 GMT)
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