Net zero risks energy security, says OPEC, as cartel slashes oil output October 10, 2023 Climate action to reach net zero undermines investment in the oil sector and jeopardises global energy security, warned OPEC.
FTSE 100 close: Markets muted as airlines are hit by Israel conflict October 9, 2023 London's FTSE markets were muted on Monday as investors grappled with the implications of the surprise attack launched on Israel by Hamas.
Oil prices surge after Hamas attack on Israel raises supply fears October 9, 2023 Oil prices have spiked amid growing political uncertainty in the Middle East, following Hamas' attack on Israel.
Gold prices stabilise after nine-day losing streak as bond yields dent demand October 8, 2023 Gold prices have stabilised after a nine-day losing streak which saw the precious metal slide on the spot market amid rising bond yields.
FTSE 100 close: London ends week higher after US jobs growth smashes forecasts October 6, 2023 London markets opened higher this morning despite a fall in house prices for the sixth consecutive month in a row.
Tech firms listing in London? That’s a red flag, says short seller Carson Block October 5, 2023 Any tech firm that lists in London should raise alarm bells, short seller Carson Block has said today, as he took aim at the City’s “clubby” culture and focus on pedigree.
‘Betting on human nature’: Short seller Carson Block on fraud, death threats and why he’s sniffing around UK firms October 5, 2023 'Betting on human nature': Short seller Carson Block on fraud, threats and why he's sniffing around UK firms
OPEC+ opt against further oil output cuts as prices drop on demand fears October 5, 2023 Oil prices have slide after OPEC+, opted against further changes to the group's hawkish output cuts this year.
FCA defends whistleblowing processes after admitting legal slip-up October 4, 2023 The Financial Conduct Authority has defended its conduct towards whistleblowers today after officials wrongly dismissed a plea for protection and apologised for misinterpreting laws. The watchdog apologised to a whistleblower this week after it wrongly dismissed their complaints on the grounds the person they had waived their right to anonymity, a decision which has no basis in law. Officials at the FCA formally apologised to the whistleblower after being approached for comment by City A.M. Speaking with reporters today, officials admitted the mistake had been made in their handling of the case but sa “I do want to take this opportunity to sincerely apologise for the distress we caused that individual as a result of our mistake,” Sheree Howard, the watchdog’s executive director of risk and compliance said. An official dismissed the calls in March on the grounds that the complainant was “no longer entitled to the protections offered under the Public Interest Disclosure Act 1998” – the laws governing whistleblowing - because the had waived their anonymity. Speaking with City A.M. on condition of anonymity, the whistleblower claimed they had been treated with “contempt” and left vulnerable to retribution from the firm. The watchdog has faced question over the protections afforded to whistleblowers in recent months after a report from whistleblower body Protect found that 70 per cent were either victimised, dismissed or felt resignation was the only option open to them after raising the alarm. When questioned by City A.M. on whether the watchdog had failed to adequately protect whistleblowers, the FCA’s co-head of enforcement and market oversight said he was “always happy to look at our approach on whistleblowing”. “We are see[ing] if we can develop and strengthen the protections,” he said. “I do come back to that I think from a FCA perspective, we do have some good protections in place to protect the the confidentiality and the anonymity of the whistleblower.” Earlier this year, the government committed to a review of the protections afforded to whistleblowers in the UK. The review has looked to “take stock of whether the whistleblowing framework is operating effectively and protects those who call out wrongdoing in the workplace,” Business Minister Kevin Hollinrake said at the time.
Long-term gilt yields hit highest level in decades as bond rout continues October 4, 2023 The global bond rout deepened on Wednesday, sending borrowing costs on some of the longest-dated UK government debt to their highest levels in decades.