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”.
Four-day week at Atom Bank leads to 500 per cent surge in job applicants who want 34 hours a week with no pay cut January 10, 2022 Atom Bank’s four-day working week has led to a 500 per cent surge in job applications and boosted staff morale, its boss has said, stressing he is “utterly committed” to the new set up. The UK’s first app-based bank saw the jump in people applying for job vacancies in one week, shortly after it announced [...]
Santander lures Barclays veteran Jane Galvin away from HSBC in banking war for top talent January 10, 2022 Santander UK announced this morning the appointment of Jane Galvin as Head of Corporate Clients within its Corporate and Commercial Banking (CCB) division. Galvin, a City heavyweight who made a name for herself during three decades at Barclays, will start at the beginning of February and will report directly to CCB head Tim Hinton. She [...]
Cost of living crisis: Millions of savers miss out as UK banks pocket profits from higher interest rates January 10, 2022 The UK’s major banks have failed to pass on last month’s interest rate rise to millions of savers, according to Moneyfacts.
Morning snapshot: Your Daily Dose of pre-market news January 10, 2022 It’s Monday 10 January. Here is a quick overview of the stories that are making headlines this morning in the UK and around the world. UK POLITICS Cladding: Developers must agree a £4 billion plan to fix dangerous cladding on low-rise flats by early March or risk new laws forcing them to act, Housing Secretary [...]