Markets
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The British pound is experiencing its sharpest monthly fall. Sterling has fallen 3.6% against the US dollar in July, pressured by UK economic challenges and changing global sentiment, marking its worst monthly performance since September 2023. Analysts expect continued pressure due to fiscal concerns.
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Unilever’s sales rose 3.4% amid challenging profit figures. The FTSE 100 firm reported a 3.2% drop in turnover to €30.1bn, citing disposal costs and currency impacts. Ice cream led growth ahead of its spinout, while cash flow and earnings fell.
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A sweeping set of late-payment laws will soon apply to UK corporates. New 45-day payment caps and multi-million-pound fines for repeat offenders are now set to reshape supplier relationships and boardroom behaviour, amid calls for greater corporate accountability and overdue relief for small businesses.
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The European Commission adopts a new voluntary sustainability standard. The Voluntary Standard for SMEs (VSME) aims to simplify sustainability reporting for smaller businesses, enabling them to address ESG data requests from financial institutions and large companies, amidst potential changes to the CSRD’s scope….
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UK business confidence has reached its highest level since 2015. The Lloyds Bank Business Barometer shows optimism climbing for a third straight month in July, with hiring intentions and services sector strength offsetting ongoing cost pressures and uneven regional trends.
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The UK’s ageing workforce is growing fast. Employers are investing less in training just as older workers face new risks from AI and the net zero transition. New CIPD research calls for urgent action to support reskilling and lifelong learning to keep older staff in work.
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The US Federal Reserve paused rates for the fifth meeting. A rare split vote highlighted internal debate as economic signals diverged. Chair Powell reaffirmed the central bank’s independence, leaving markets and policymakers weighing the prospect of a policy shift in September.
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Australia expands clean energy scheme to target 40 GW by 2030. The government aims to accelerate renewable infrastructure, supporting its 82% renewable electricity goal by 2030. The initiative is set to attract investments worth A$73 billion in storage and solar technologies….
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Nuveen secures $785 million for sustainable real estate projects. The C-PACE fund enables insurance investors to finance energy efficiency and sustainability initiatives in commercial real estate, offering a cost-effective alternative to traditional financing methods….
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EPA proposes to rescind Greenhouse Gas Endangerment Finding. The move could significantly impact regulations on emissions from carbon-intensive industries. Environmental groups have criticised the proposal, which is likely to face legal challenges, as it removes the EPA’s authority to regulate greenhouse gases….