FTSE 100 continues rally as markets boosted by relaxing of China’s Covid measures May 30, 2022 London’s FTSE 100 hit its highest level in a month, buoyant by 0.4 per cent, as the relaxing of Covid restrictions in China boosts confidence across international markets. The capital’s premier FTSE 100 index climbed to 7615.82, having closed at 7,585.46 on Friday. British Airways owner International Airlines Group led the charge with a three [...]
Millions of UK households could face blackouts this winter due to war in Ukraine May 30, 2022 Millions of UK households could face blackouts this winter due to global shortages of natural gas caused by Russia’s war in Ukraine, the UK government has warned. As many as six million British households could be subjected to blackouts, if Russia makes further efforts to cut off the EU’s gas supplies, according to a Whitehall [...]
Exclusive: KPMG to hire 3,500 tech workers to staff newly launched digital products business May 27, 2022 KPMG today launched a new digital solutions business which is set to see the firm more than double the size of its 3,000 strong technology focused workforce by hiring 3,500 new data scientists and engineers. The UK arm of the Big Four firm said it plans to create 1,000 London tech jobs, in its efforts [...]
Retail therapy gives markets a lift as battle to contain inflation genie starts in earnest May 27, 2022 European markets spent most of yesterday edging cautiously higher, with the FTSE100 shrugging off the UK government’s decision to impose a 25 per cent windfall tax on the oil and gas sector, while at the same time unveiling a fiscal stimulus package. The decision to impose the controversial tax appears to have prompted a review [...]
Exclusive: Unprecedented war for talent reflects a seismic shift in power on Britain’s hyper-aggressive job market May 26, 2022 Britain’s jobless rate has fallen to its lowest level for over 47 years. In fact, for the first time ever, there are fewer unemployed people than job vacancies. This is resulting in an unprecedented ‘war for talent’ and an unprecedented wave of pay hikes, but what does this actually look like for London’s business community? [...]
FCA pushes for reform of London’s listing regime in an attempt to boost growth: ‘A radical set of changes’ May 26, 2022 The City watchdog has outlined plans to reshape the two-tier structure of the London Stock Exchange’s main market today in a bid to simplify listing rules and tempt more fast-growth tech firms to come to market. The Financial Conduct Authority revealed proposals to do-away with the current split between a higher “premium” tier of the [...]
Digital Asset Economy Fuels Instant Settlements Innovation May 26, 2022 | City Talk Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction. Innovations such as shared ledger transactions for institutional investors and traders are [...]
1 Minute Market Rundown – 26th May 2022 May 26, 2022 | City Talk Trade the ExtremesCrypto Comes Under PressureFED Retains Flexibility The FOMC minutes came and went and the markets have summed it up quite nicely – nothing new. There were no fresh insights and all markets can’t make headway in either direction. The word we like to use to describe this market is ‘transactional.’ It feels that [...]
London-listed energy giants shake off windfall tax jitters May 26, 2022 London-listed energy firms shook off concerns over the impact of a looming windfall tax on their excess profits during opening exchanges this morning. The capital’s premier FTSE 100 index edged 0.09 per cent higher to 7,529.53 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Global markets: US resilience lifts indexes worldwide with no surprises from Fed minutes May 26, 2022 European markets had a much more positive bias yesterday, helped by more resilience in the US, which finished the day strongly higher after the release of the latest Fed minutes. “This positive finish took a bit of a knock after the close as another disappointing set of earnings numbers, this time from Nvidia prompted US [...]