National Audit Office launches probe into FCA as regulator sizes up crypto and AI July 17, 2023 The National Audit Office (NAO) has launched a probe into the functions of the City regulator as its remit swells to take on oversight of technologies like cryptoassets and artificial intelligence.
FTSE 100 firms slash charitable giving as profits rocket July 17, 2023 Britain’s biggest companies have slashed their charitable donations by nearly a quarter over the past decade despite pre-tax profits rocketing in the same period, research has showed.
Pound surges to strongest level since April last year as traders bet on further rate hikes July 14, 2023 The pound has surged to its strongest position in over a year over the past week as traders bet the Bank of England will have to hike rates further and faster than global counterparts. Since the beginning of the month, the pound has risen from below $1.27 to trade at over $1.31. The last time [...]
FTSE 100 close: London’s premier index creeps into the green ahead of crucial inflation print on Wednesday July 14, 2023 London’s premier index closed the week slightly in the green after a quiet day ahead of next week’s crucial inflation print. The FTSE 100 slipped out marginal gains to trade at 7,440.65 while the midcap FTSE 250 index dropped 0.2 per cent to 18,594.73. All eyes will be on UK inflation data next week. Inflation [...]
Wall Street winning streak continues as US inflation continues to fall way past UK July 14, 2023 Wall Street’s winning streak barrelled into a fourth day following the latest signal that inflation is easing its chokehold on the economy. The S&P 500 rose 0.8 per cent on Thursday for its highest close since April 2022. The Dow Jones Industrial Average rose 0.1 per cent , and the Nasdaq composite rallied 1.6 per [...]
London IPO market slumps below Istanbul and Milan July 14, 2023 The London Stock Exchange has slumped below Istanbul and Milan in terms of IPO activity this year as the Square Mile is hit by a drought in its listings market, new research has revealed.
FTSE 100 live: London markets rise after UK GDP contracts by less than expected July 13, 2023 London markets rose this morning, despite housebuilders slumping, after official figures showed that the UK economy contracted by less than expected. The FTSE 100 was trading 0.18 per cent higher at 7,429.68 while the midcap FTSE 250, which is more aligned with the health of the domestic economy, climbed 0.13 per cent to 18,604.03. Sentiment [...]
FTSE 100 close: Barclays, NatWest and Lloyds all surge after Bank of England gives clean bill of health to lenders July 12, 2023 London’s FTSE 100 was yanked higher today by Britain’s biggest banks surging after being given a clean bill of health by the Bank of England this morning. The capital’s premier index notched one of its best days in weeks, surging 1.83 per cent to 7,416.10 points, while the domestically-focused mid-cap FTSE 250 index, which is [...]
FCA chief: AI could disrupt financial services ‘at a scale not seen before’ July 12, 2023 The chief of the Financial Conduct Authority has said that artificial intelligence could disrupt the financial services sector in “ways and at a scale not seen before”, warning that the regulator would look to take action against AI-based scams.
Corporate debt swells to record £6tn as interest rates begin to cool borrowing appetite July 12, 2023 The debt pile sitting under global corporates has swelled to record levels in the past year despite rate hikes beginning to cool firms’ appetite for borrowing, new research has revealed.