Bank of England should use Russian reserves to repair Ukraine economy March 27, 2022 The Bank of England should use the Russian central bank’s frozen reserves held at Threadneedle Street to help rebuild the Ukrainian economy. That’s according to the head of Ukraine’s central bank who today urged governor Andrew Bailey and co to allocate the around £21bn of sanctioned assets to repairing the damage inflicted on Ukraine’s cities [...]
Week ahead: City eyes fresh borrowing figures for signs of spending slowdown March 27, 2022 Investors will be keeping a close eye on fresh economic data this week for further signs of the cost of living crunch hitting spending. A flurry of downbeat economic announcements and data last week did not derail the capital’s premier FTSE 100 index, which added over one per cent to reach 7,483.35 points by the [...]
Weekend Read: Four is the new five as most workers push for four day week on same pay March 27, 2022 Three in four UK office workers prefer a four-day working week over five days, while offered the same salary with the same amount of work needed, according to a new report shared exclusively with City A.M. today. Individuals and some businesses have embraced diverse flexible working models over the past two-years, giving rise to the [...]
‘Wall of worry’ knocks UK consumer confidence March 25, 2022 “A wall of worry” made up of a 30-year high inflation rate, the Russia-Ukraine war and looming tax hikes is plaguing UK households, reveals a closely watched survey released today. Brits’ optimism dropped five points to minus 31 this month marking the fourth month in a row consumer confidence has fallen, according to research firm [...]
London’s top indexes struggle for direction on tame day in City March 24, 2022 London’s top indexes struggled to squeeze out any gains today on a tame day of trading in the City. The capital’s premier FTSE 100 index edged 0.09 per cent higher to 7,467.38 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.52 per cent [...]
Moscow Stock Exchange reopens for first time in nearly a month March 24, 2022 The Moscow Stock Exchange partially reopened today after trading in shares was frozen for more than three weeks as authorities tried to avoid a collapse in Russian equity prices. Shares actually rose after trading resumed, with Moscow’s benchmark index closing up over four per cent. The index is still down around 30 per cent over [...]
Spring statement: Record fall in living standards under current parliament March 24, 2022 UK living standards will fall quicker over the course of this parliament than any other since records began, reveals fresh analysis released in the wake of chancellor Rishi Sunak’s spring statement. The typical non-retired household is forecasted to be two per cent worse off by the time of the next election in 2024, according to [...]
Cost of living squeeze already biting UK economy as experts warn worst is still to come March 24, 2022 The damage the cost of living squeeze is inflicting on UK households is already starting to weigh on the economy as top forecasters warn the worst effects of spiralling living standards are yet to come. A fresh flurry of data released today revealed consumers are slashing spending to alleviate pressure on their finances caused by [...]
Sunak’s decision to hike national insurance while cutting income tax is ‘indefensible’ March 24, 2022 Top economic forecasters today slammed Chancellor Rishi Sunak’s decision to push ahead with the national insurance tax hike while cutting the basic rate of income tax as “indefensible”. All of the windfall households will receive from lower income tax bills will be offset by fiscal drag and a 1.25 percentage point national insurance uplift and [...]
1 Minute Market Rundown – 24th March 2022 March 24, 2022 | City Talk Russia – UkraineYields in focusCrypto consolidates Rates markets continue to dominate proceedings with yields continuing to push higher but risk is holding in rather well. Looking across equities and crypto it feels like the dips are getting shallower and we are putting in higher lows. We have been saying crypto has been quietly bid and [...]