Markets rattled as hawkish Fed signals US rate rises coming – business live

Rolling coverage of the latest economic and financial news

1/27/2022 12:26:00 PM

Markets rattled as hawkish Fed signals US rate rises coming – business live

Rolling coverage of the latest economic and financial news

Read more: Guardian news »

Texas school shooting: Senator Ted Cruz storms off over questions about gun reform

Among the mourners at a vigil for the 21 people killed at Tuesday's mass shooting are Greg Abbott, the governor of Texas, and his ally in the senate, Ted Cruz; Republican politicians who block all Democratic Party attempts to change gun laws. Read more >>

Electricals retailer AO World is reviewing its operations in Germany, as rising costs and the relaxation of lockdown rules hit sales. AO’s revenues in Germany fell by 24% year-on-year in the last quarter, twice as fast as in the UK. It has now launched a strategic review of the German business, which it says is facing several challenges, including rising competition and supply chain problems: Our German business is being significantly impacted by a number of recent material changes to the local trading environment: competition in the online market has intensified whilst online penetration has returned to pre-pandemic levels; digital marketing costs have substantially increased against pre-pandemic levels; and supply remains constrained. We expect these trends will continue for the foreseeable future in the German market. Shares in AO have dropped 2.7% to 103p. Back at the start of 2021 they were worth over £4, after a surge in demand from locked-down customers.