END OF SHOP: China’s Economy Is Under Pressure As Factory Growth Slows; UK business confidence hits four-year high
- FTSE 100 finished the day 0.4% to 7,119; FTSE 250 by 0.2% to 24,102. gone up
- China’s factory activity is slowing amid falling export demand
- Staff shortage worries but UK business optimism hits 4-year high
- Insurance company LCP warns of the future of Divi payments amid new pension regulations
- Ofgem launches a new £ 450 million fund to help companies protect the environment
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The FTSE 100 finished in the red on the last day of August, with the index dropping 28 points, or 0.4 percent, to 7,119. However, the UK-focused FTSE 250 rose 42 points, or 0.2 percent, to 24,102.
China’s businesses and the economy as a whole came under increasing pressure in August as factory activity grew more slowly while the service sector contracted
Business confidence across the UK has hit a four-year high, fueled by mounting optimism about the post-Covid recovery, but some companies have raised concerns about staff shortages.
The introduction of vaccines, the lifting of lockdown restrictions and changes to self-isolation rules all contributed to more optimism among businesses, according to the latest snapshot from Lloyds Bank this month.
Elsewhere, new rules could force blue-chip companies to allocate reserve funds to pension systems instead of increasing post-pandemic dividend payments.
Speaking to The Times, actuary firm LCP warned that companies shouldn’t underestimate the importance of the new Pension Schemes Act 2021.
And energy company Ofgem’s regulator today launched a £ 450 million fund aimed at projects that will help the country meet its net-zero climate goals.
Ofgem will provide the money to power grid companies trying to make sure households and businesses become greener.