Navigating systemic risks: Ukraine, climate and crypto August 23, 2022 | City Talk “You cannot anticipate exactly how these risks or dangers are going to play out… But we should be pretty assertive in insisting that we need certain principles, including enough capital buffers — that is, equity unencumbered by any kind of contingent debt or anything like that — that can really withstand shocks in the core [...]
Inflation fears return to haunt FTSE 100 as City eyes Jackson Hole August 22, 2022 London markets today started the week in risk-off fashion as investors brace for the annual meeting of central bankers at Jackson Hole and fretted over high inflation. The capital’s premier FTSE 100 index dropped 0.22 per cent to 7,533.79 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
China banks cut key interest rate in bid to revive stalling economy August 22, 2022 China’s banks have slashed a key interest rate in a token gesture to revive the world’s second-largest economy. The country’s central bank said yesterday the one-year loan prime rate offered by banks was cut to 3.65 per cent from 3.7 per cent, while the five-year rate dropped to 4.3 per cent from 4.45 per cent. [...]
Inflation to peak at more than 18 per cent, reckon Citi forecasters August 22, 2022 Inflation is set to surge above levels seen during the oil price shock in the late 1970s in a sign the UK economy is hurtling toward a long slump, new forecasts published today show. The cost of living will climb to 18.6 per cent in January, pushed higher by the energy watchdog hiking the cap [...]
UK workers keen to bag big City bonuses August 22, 2022 Workers are keen to capitalise on bumper bonuses handed out by banks, brokers and insurers, a new survey published today shows. Around a quarter of Brits want to shake up their careers and move into the financial services sector, according to consultancy KPMG. Of those considering moving to a job in the City, some 58 [...]
Weekend Read: Is Britain headed for a summer recession? August 21, 2022 Britain has met the first half of the technical recession definition, meaning there is a small chance we are headed for a summer recession. The Bank of England thinks the country will tip into the longest recession since the financial crisis in the final three months of this year. Figures published last week by the [...]
Week ahead: Powell to commit to more rate hikes in Jackson Hole speech August 21, 2022 The world’s investors will be closely watching the annual gathering of the cream of the central banking crop at this year’s Jackson Hole symposium in the state of Wyoming. London’s premier FTSE 100 index notched a reasonable performance last week, squeezing out a 0.66 per cent gain to close at 7,550.37 points. Its mid-cap rival, [...]
Threat of recession drives City law firm hiring spree August 19, 2022 City law firms are seeking to capitalise on the looming recession by bolstering their M&A and financial restructuring teams. Vacancies for City lawyers specialising in banking, leveraged and real estate finance, capital markets, and derivatives surged 38.7 per cent over the first seven months of 2022, figures from legal sector recruitment firm Tenhaven show. The [...]
Soaring energy bills could plunge Britain into a ‘humanitarian crisis,’ NHS leaders warn August 19, 2022 NHS leaders have warned that soaring energy bills could plunge the UK into a “humanitarian crisis” by driving a surge in hospital admissions. The heads of NHS trusts in England, Wales and Northern Ireland called on the government limit price hikes and offer greater financial support to prevent a “public health emergency”. The NHS chiefs [...]
Best ETFs for an environment with rising interest rates August 19, 2022 | City Talk On 4th August, the Bank of England raised interest rates by an outsize 0.50% – the largest single increase since 1995, taking the Bank Rate to 1.75%. This follows on from the Fed’s second 0.75% rate hike on 27th July, as Central Banks try to rein in inflation. Whether or not interest rate rises will [...]