News & Insight Weekly Newsletters

23 September 2022 | William Buckhurst

That Was The Week That Was


  • There were rate rises from 20 central banks around the world on one day on Thursday – surely a record?
  • The Bank of Japan showed the first sign of monetary tightening as it intervened to buy Yen for the first time since 1998
  • In the UK, the new Chancellor, Kwasi Kwarteng, announced a slew of tax cuts including a cut in the top rate of 45% income tax
  • Sterling fell to $1.09 vs the dollar


  • Accenture reassured investors with strong results and a record level of bookings but highlighted that the surge in the dollar would hurt 2023 profits
  • Ford closed down 12.3% on Tuesday after cutting its quarterly guidance. Although the company reaffirmed its full year guidance, it stated that inflation related supplier costs were running $1bn higher than expected
  • Shares in Haleon finished higher after reporting first half profit and revenue growth


Two darlings of the small cap market in the lock down era look to have a difficult future as (sofas) and Revolution Beauty brought out worrying statements on Friday. announced it is seeking a buyer or emergency investment as the embattled online furniture business plans to shed more than a third of staff, whereas Revolution Beauty has called in independent investigators to look into ‘serious concerns’ raised by its auditor, BDO


  • 1998: Long Term Capital Management is bailed out with a $3.6bn investment by a group of 16 financial institutions
  • 2008: Warren Buffett’s Berkshire Hathaway injects $5bn to rescue Goldman Sachs at the height of the financial crisis


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 As at 23rd September 2022. Source: Financial Express



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