Post-Brexit financial services overhaul may lead to ‘race to the bottom’ May 16, 2022 A push to scrap legacy pre-Brexit regulation to boost the City’s attractiveness may result in a race to the bottom, a former minister and academics have warned. Sir Vince Cable, a former Lib Dem business secretary under the coalition government, and others have in a letter to chancellor Rishi Sunak a watering down in rules [...]
Working from home may lead to lazy lifestyle that is as risky as smoking May 16, 2022 Working from home may contribute to a lazy lifestyle that is as much of a health risk as smoking, reveals new research published today. One in five people working from home exercise less often due to not commuting to the office, according to Bupa. An uptick in remote working since the pandemic is entrenching more [...]
Bank of England chief Bailey set for toughest spell since taking reins from Carney May 15, 2022 Bank of England chief Andrew Bailey is this week set for one of his toughest spells since taking over from Canadian Mark Carney two years ago as head of the UK’s monetary authority. Bailey, 63, will tomorrow have to defend the Bank’s performance in taming a cost of living squeeze that risks plunging the UK [...]
Millions of Brits’ tax bills set to soar as fiscal drag bites May 15, 2022 Millions of Brits’ tax bills are set to soar due to chancellor Rishi Sunak freezing the thresholds at which people start paying the taxman, revealed research published yesterday. Around 6.7m people will be hit by higher rates by 2024, the year the next general election is scheduled, according to consultancy Lane Clark and Peacock (LCP). [...]
Week ahead: City eyes potentially ‘staggering’ inflation figures May 15, 2022 The City will turn its gaze to what is likely to be another tranche of “staggering” inflation data in a week bulging with economic and corporate updates. London’s premier FTSE 100 index whipsawed last week, dropping sharply on Monday before finishing the week up 0.41 per cent at 7,418.15 points. The mid-cap domestically-focused FTSE 250 [...]
Andrew Bailey faces House of Commons grilling amid cost of living crunch May 14, 2022 Bank of England Governor Andrew Bailey will face questions over his leadership on Monday following his policy towards the cost of living crunch.
Championing hidden talents, powering purpose, benefiting society May 13, 2022 | Sponsored Genuis Within celebrated its 10-year anniversary last September by publishing a report on its decade of progress. Founded by Dr Nancy Doyle, an Occupational Psychologist and now Genius Within’s Chief Research Officer, it’s a social enterprise dedicated to facilitating neurodiversity inclusion through consultancy, talent assessment, workshops and coaching for businesses. It works with government, business, [...]
A volatile week draws to a close on Friday the 13th with ‘a UK economy that has more or less ground to a halt’ May 13, 2022 There were more wild swings in equity markets over the last 24 hours, largely driven by a concern over slowing growth, and sticky inflation, raising fears of looming stagflation and possible recession. These worries manifested themselves in the guise of fluctuating bond yields, and weaker commodity prices, while Federal Reserve officials continued to show little [...]
Stagflation fears trigger sea of red in the City as FTSE 100 plummets May 12, 2022 Stronger signals indicating the UK economy is in the teeth of a slump sent London’s FTSE 100 tumbling today. The capital’s premier index plummeted 1.56 per cent to 7,233.34 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, closed 0.85 per cent at 19,480.88 points. [...]
UK recession to hit sooner than first thought as economy unexpectedly shrinks May 12, 2022 The UK is “dangerously close” to tipping into a recession sooner than predicted due to households already cutting spending ahead of the cost of living squeeze tightening. That’s according to City economists’ assessment of weaker than expected GDP figures published today by the Office for National Statistics (ONS). The economy shrank 0.1 per cent in [...]