UK must prioritise financial inclusion over the City’s competitiveness, says former FCA chair July 11, 2023 The UK “can’t go on” prioritising the competitiveness of the City over the financial access of millions of vulnerable people during a cost of living crunch, the former chair of the Financial Conduct Authority has warned.
Can Jeremy Hunt’s Mansion House reforms cure London markets’ malaise? July 11, 2023 Jeremy Hunt’s package of City reform has been hailed by top figures across the Square Mile today - even as one top money manager cast doubt on whether it would prove the right elixir for London’s market woes.
The FTSE 100 has done us all dirty… again July 11, 2023 The FTSE 100 has done us all dirty yet – again. Over and over it marches us up a hill only to send us back down again. Former Bank of England governor Mark Carney is often referred to as the “unreliable boyfriend” of monetary policy making for his comments signalling he and the MPC would [...]
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 [...]