UK households face biggest decline in available cash for eight years January 12, 2022 UK households are feeling the pinch as energy bills soar, the cost of living rises and Covid-19 restrictions continue to impact business.
Millions of banking app users exposed to security flaw: HSBC, NatWest, Monzo, Santander, Starling and Virgin Money customers all affected January 12, 2022 Millions of Brits who use online banking services are exposed to some worrying fraud risks, industry experts warned today. Following an investigation by security experts 6point6, testing the online and mobile app security of 15 major current account providers on a range of criteria, including encryption and protection, login, and account management and navigation, consumer [...]
Exclusive: Senior Tory calls for UK to mull HSBC sanctions over links to Uyghur oppression January 11, 2022 HSBC should be hit with economic sanctions if it does not sever ties with a firm that is closely linked to the ethnic cleansing of Uyghur Muslims in China, according to senior Tory MP Sir Iain Duncan Smith. City A.M. can reveal the former Conservative leader and a group of other MPs will write to [...]
Top Chinese economist suggests £230bn plan to boost shrinking population January 11, 2022 A top Chinese economist has advised the central bank to print around £230bn worth of extra cash a year over the next decade, in a bid to incentivise the population to have more children. The capital would be used to subsidise housing costs, as well as build more childcare facilities, chief economist at SooChow Securities [...]
Rate lift off to boost Wall Street banks’ bottom lines this year as investors eye earnings season January 11, 2022 The US Federal Reserve flexing its inflation fighting muscles this year by hoisting interest rates rapidly is set to boost Wall Street banks’ bottom lines in 2022. The likes of JPMorgan, Goldman Sachs and Citi are in line to benefit from Fed chair Jerome Powell leading the fight against a spiralling cost of living across [...]
Exclusive: ‘Omicron is a reminder the world is only as good as the weakest link in the vaccination chain,’ says abrdn exec January 11, 2022 Ongoing inflationary shocks, questions around interest rates and the emergence of the new Omicron Covid variant are all making navigating uncertainty more challenging. Nonetheless, when we look beyond the headlines, there remain some reasons for optimism going into 2022, according to Richard Dunbar, head of multi-asset research at global investment giant abrdn. Square Mile-based Dunbar [...]
Just five per cent of JP Morgan clients think Bitcoin will hit $100k this year January 11, 2022 Wall Street remains unconvinced that Bitcoin is poised to soar to new heights by the end of 2022 a survey has revealed.
Retail in 2022: Leisure explosion and flexible landlords will give the UK high street a much-needed boost this year January 11, 2022 Demand for property outside traditional retail and pragmatic landlords have given “renewed optimism” for some high streets and shopping districts despite the toll of the pandemic, according to industry experts. The pressure from lockdown measures, after a steady decline in recent years, saw vacancy rates across shopping destinations hit record levels in the second quarter [...]
Buckle up: Wild ride on Wall Street as rate rise talk spooks investors January 10, 2022 An explosive Goldman Sachs note triggered a day of drama on Wall Street today after the investment bank warned of as many as four US Fed rate rises in 2022 alone. The tech-heavy Nasdaq crashed by as much as 2.7 per cent in early trading, tipping it briefly into correction territory. A late rally saw [...]
GMB Union hammers Centrica for appointing former energy minister Amber Rudd to its board January 10, 2022 GMB Union has slammed Amber Rudd’s appointment to Centrica’s board, describing her as “the wrong person at the wrong time”.