Billionaire financier Leon Black paid mistress millions for UK Golden Visa April 27, 2022 Billionaire financier Leon Black paid his Russian mistress £2m to make her eligible for a UK “Golden Visa”, in the hopes she would start a new life, far away from his home in New York. The co-founder of private equity giant Apollo Global Management transferred millions to his former mistress Guzel Ganieva after she began [...]
Brits slash spending in another sign of looming economic woe April 27, 2022 The worsening cost of living shock is prompting Brits to cut back on unnecessary purchases in a further sign the UK economy is headed for a period of worse than expected growth, reveals fresh figures published today. Households are shunning luxury items in response to their living standards suffering a heavy blow from the highest [...]
How technology is transforming and unlocking real-estate asset classes April 27, 2022 | City Talk The line between technology and real estate is blurring, bringing new opportunities and asset classes, particularly in residential, office and biotech, says Samantha Kempe, co-founder and chief investment officer of IMMO Capital. The sheer size of the real estate sector – the global figure reached a record $326.5 trillion (about £251.1 trillion) in 2021, according [...]
1 Minute Market Rundown – 27th April 2022 April 27, 2022 | City Talk Risk Under PressureCrypto ConsolidatesUSD in DemandGoogle Disappoints To say things got ugly yesterday would be a bit of an understatement. Clearly, what goes lower, must go…lower. Stock indices closed the session sharply lower with the S&P taking out support at 4200. US stocks sank to the lowest levels seen in 6 weeks as hopes that [...]
London’s top indexes fail to recover China Covid lockdown triggered losses April 26, 2022 London’s top indexes failed to recover from Monday’s bruising session as investors were still jittery due to concerns over the severity of the impact on the global economy from China sticking to its zero-Covid tolerance policy. London’s premier FTSE 100 index edged 0.08 per cent higher to 7,286.19 points, while the domestically-focused mid-cap FTSE 250 [...]
UK flirting dangerously close with recession this year, economists warn April 26, 2022 The UK economy is flirting dangerously close with falling into recession this year as a result of inflation dealing a heavy blow to households and businesses. That’s according to a slate of gloomy forecasts from some of the City’s top economists. Elevated food, energy and core goods prices will send inflation to a peak of [...]
Historic inflation crunch swells UK interest bill to highest on record April 26, 2022 Historic high inflation has swelled the amount of money the UK government spends on servicing its debt to its largest level on record, reveals official figures released today. Britain’s debt interest bill for the year to March climbed 77 per cent over the last year to nearly £70bn in a further sign that Chancellor Rishi [...]
1 Minute Market Rundown – 26th April 2022 April 26, 2022 | City Talk Risk Stages a Comeback into the US CloseCrypto ReboundsSterling and Euro Continue to Look Vulnerable As you finished work yesterday you would have been forgiven for expecting risk markets to remain offered following what could only be described as a horrid day for markets. China’s ‘zero covid’ strategy as well as concerns over inflation weighed [...]
Public sector borrowing hits third highest year since 1947 April 26, 2022 Public sector net borrowing hit £151.8bn in the financial year ending March 2022, the third-highest financial year borrowing since records began in the financial year ending March 1947. Borrowing excluding public sector banks was 6.4 per cent of gross domestic product (GDP), according to freshly published figures from the Office for National Statistics. However, borrowing [...]
China zero-Covid policy sends chill through global markets April 25, 2022 Anxiety over the spillover effects on the global economy of China plunging more of its largest cities into lockdown as it ploughs ahead with its zero-Covid policy sent global markets tumbling today. A surge in infections has increased the likelihood of authorities tipping more cities into the most onerous Covid-19 restrictions, including China’s capital Beijing. [...]