Government’s aid investor: Why only the private sector can lift people out of poverty July 11, 2023 In 1948, the chair of the Colonial Development Corporation Lord Reith described the newly formed state-backed body’s role as to “do good without losing money”. Since then it has been through a number of understandable rebrands and rejigs. It swapped its title for the Commonwealth Development Corporation in 1963, before winning a mandate from government [...]
FTSE 100 close: London index muted as interest rate fears linger July 10, 2023 London’s FTSE 100 kicked off a new week just about in the green today as a reduction in UK debt costs gave the index a reprieve from a torrid time of late. The capital’s premier index edged 0.23 per cent higher to close at 7,273.80 points, while the domestically-focused mid-cap FTSE 250, which tends to [...]
DWF shares surge 40 per cent amid takeover talks with private equity firm July 10, 2023 Shares in legal services outfit DWF rocketed today after the firm revealed it was in talks with London-based Inflexion Private Equity Partners regarding a possible buyout. In a statement to the London Stock Exchange, DWF said it was in talks for a deal worth about £342m. Shares in DWF soared as much as 40 per [...]
UK fintech funding tumbles as interest rates dampen investors’ appetite July 10, 2023 Funding for the UK’s fintech sector cratered in the first half of the year as further interest rate hikes and economic volatility continue to weigh on investors’ appetite for the market, according to new data.
Wage growth has ‘passed its peak’ as Andrew Bailey prepares to address City on interest rates July 10, 2023 Workers returning to the jobs markets and boosting the volume of candidates available to businesses are poised to put a lid on wage growth, analysts are predicting official numbers this week will show. Pay growth is said to have “passed its peak” after raging for more than a year, fuelled by staff demanding wage increases [...]
Wall Street falls after hot jobs data raises threat of high rates July 7, 2023 Stocks fell on Thursday after reports suggested the US jobs market remains much more resilient than expected. The S&P 500 lost 35.23, or 0.8 per cent , to 4,411.59. The Dow Jones Industrial Average dropped 366.38, or 1.1 per cent , to 33,922.26, and the Nasdaq composite gave up 112.61, or 0.8 per cent , [...]
FTSE 100 close: London’s premier index ends week lower after US jobs report July 7, 2023 London’s FTSE 100 closed the week lower as global markets grew increasingly nervous about the extent of interest rate rises still to come. The FTSE 100 closed 0.37 per cent lower at 7,253.43 while the domestically focused FTSE 250 performed more strongly, rising 0.54 per cent to 18,012.46. Investors were digesting the latest jobs data [...]
FTSE 100 tumbles to year low and gives up 2023 gains after hitting record high just months ago July 6, 2023 London’s FTSE 100 tumbled to its lowest closing level this year today as the index was captured by a global stock market sell off ignited by traders fretting over further interest rate rises. The capital’s premier index cratered 2.24 per cent, its biggest one day fall since March, to close at 7,275.60 points, while the [...]
Oil prices weighed down amid sluggish demand from China despite Opec cuts July 6, 2023 Sluggish demand recovery in the world's top crude importer China is continuing to weigh down oil prices, OPEC+ output cuts.
Asset managers exposed to liquidity risk, FCA warns July 6, 2023 The City’s asset managers have left “gaps” in their liquidity management and could be exposed in the event of a run from investors, the Financial Conduct Authority has warned.