Only one in five think the Bank of England is doing a good job – but they still trust it more than politicians August 29, 2023 Just 18 per cent of the public think the Bank of England are doing a good job, but a majority still think politicians should not be given control of monetary policy.
A Legacy of Difference Making August 24, 2023 | Sponsored We were basically running insurance companies,” the likable Barry Gale tells City A.M. of his career before joining Aon. Gale was at a Big Four consultancy firm, working on restructuring and insolvency. “But without the front-end, bringing in new clients.” He and his colleagues soon found out that winding up insurance firms was notably more [...]
China’s slumping economy signals the end of a high growth era August 24, 2023 Exports have slumped, growth has stalled and the economy even slipped into deflation. The youth unemployment figures have gotten so bad that the government has stopped publishing them. These figures - or their absence - reveals more than an economy struggling to grow after Covid. What they demonstrate is that China’s growth model over the past few decades has run out of steam.
FTSE 100 close: London markets finish in the green despite PMI dip August 23, 2023 London markets rose today despite new PMI data showing a significant slump in UK business activity. The FTSE 100 closed up 0.72per cent after a day in the green, while the FTSE 250, which is more aligned with the health of the UK economy, climbed 1.1 per cent. S&P Global’s Purchasing Managers’ Index (PMI) for [...]
PMIs: UK economy slips hard in August as recession warning lights flash August 23, 2023 The UK economy has contracted significantly this month according to a closely-watched index - triggering renewed recession warnings
UK pay deals cool for first time in 2023, easing pressure on BoE August 23, 2023 Pay deals awarded by British employers cooled for the first time this year in the quarter to July, which may calm the worries of Bank of England officials who fear wage growth is feeding inflation, a survey showed on Wednesday. Median basic pay deals in the three months to the end of July fell to [...]
Trade bodies warn Bank of England economic data ignores small business fears August 22, 2023 The proportion of businesses that will struggle to pay back debts due to rising interest rates could increase to the highest level since the financial crisis, the Bank of England has warned. In a blog post published today, the central bank said the proportion of firms that are seeing debt-servicing distress is projected to increase [...]
Recession warning flashes after ‘gloomy’ UK manufacturing data August 22, 2023 Recession concerns intensified today after new data showed manufacturing output fell at its fastest pace since September 2020 in July. According to the Confederation of British Industry’s (CBI) industrial trends survey, the balance of factories reporting a rise in output versus a fall slumped to -19 per cent, compared to plus three per cent in [...]
Former Bank governor Carney called in to head Bloomberg board August 22, 2023 Bloomberg has called in former Bank of England governor Mark Carney to chair a new board of directors in a slew of senior promotions.
Government borrowing: Another new debt record as interest hits July high making pre-election tax cuts unlikely August 22, 2023 The interest paid on government debt hit its highest July level on record as government borrowing continued to rise, albeit significantly less than expected.