Mood – Rebounding (3/10)

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As the end of the Metropolitan Police’s ‘partygate’ investigation offers Boris hope of recovering from the saga, we’re rallying from recent woes. UK retail sales rose by 1.4% in April, while the state pension could increase by a record £1,000. US growth is tipped to outpace China’s for the first time since 1976. The FTSE All Share is rebounding from yesterday’s sell off.

SPLASHING CASH

As Britain is shown to have a record number of billionaires, we’re indulging in fancies, with property tycoon Nick Candy considering bidding for online shopping group THG and HomeServe recommending a £4.1bn takeover by Canada’s Brookfield Asset Management. Nationwide Building Society’s profits have more than doubled to £1.6bn. Amazon says it has invested more than £1bn in British TV, movie and live sport content since 2018. The sale of a $142m Mercedes-Benz has smashed Ferrari’s classic car record.

PAYING THE PRICE

Conditions are still tough, with former Bank of England governor Lord King saying central banks share responsibility for the cost of living crisis and a study putting UK consumer confidence at a 48-year low. The Church of England’s pension board says the system of executive pay is ‘broken’. A £1,300 Gucci umbrella is being ridiculed in China for not being waterproof.

 

SPREADING IT AROUND
two-year-old ‘cheeseburgler’ sneakily took his mum’s phone and ordered 31 McDonald’s cheeseburgers that she then gave away. And a gang that stole statues from a Hindu temple has returned most of them, saying its members are fed up with having scary dreams.

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