Retail traders look to profit from tumbling pound Retail investing Retail traders have been looking to follow the lead of hedge funds in the past week and capitalise on wild swings in the value of the sterling, sparked by the government’s tax-cutting mini budget.
Budget watchdog to deliver forecasts next week after emergency meeting with PM OBR The UK's independent fiscal watchdog confirmed it will deliver an initial forecast for the government's so-called mini budget next week after an emergency meeting with the chancellor and prime minister today.
UK avoids recession with 0.2 per cent growth Economy The UK economy grew 0.2 per cent in the second quarter of this year as it bucked initial estimates of a 0.1 per cent contraction in the the three months to June, official figures showed today
Pound recovers losses as Bank interventions boosts confidence September 30, 2022 The pound recovered its losses against the dollar for a short time this morning as moves by the Bank of England in recent days helped calm the fallout of Kwasi Kwarteng’s tax cutting mini budget last week.
UK borrowing costs surge and FTSE tanks after Truss and Kwarteng back mini-budget September 29, 2022 UK borrowing costs fired higher and the country’s largest listed companies tanked today after prime minister Liz Truss and chancellor Kwasi Kwarteng doubled down on their tax cutting and borrowing plans. London’s FTSE 100, home to the UK’s top companies, shed 1.77 two per cent. The mid-cap FTSE 250 index nose dived more than three [...]
Banks and housebuilders bear brunt of market chaos September 29, 2022 Wild swings in UK debt markets and concern over borrowers’ capacity to pay costlier mortgages have whacked London-listed housebuilders and banks this week. Britain’s biggest property developers have been among the hardest hit listed companies during this week’s market sell-off. FTSE 100-listed construction firms Taylor Wimpey and Barratt Developments have shed more than 20 per [...]
BlackRock ramps up blockchain push with new exchange traded fund September 29, 2022 The world’s biggest asset manager BlackRock accelerated its push into digital assets today as it launched a blockchain themed exchange traded fund (ETF) for its European clients.
Tumbling pound puts London firms at risk of foreign takeover frenzy September 29, 2022 A sharp fall in the value of the pound could put London-listed firms at further risk of foreign takeovers after a spate of acquisitions this year, experts have warned today.
SoftBank begins slashing 30 per cent of staff from Vision Fund September 29, 2022 Japanese investment giant SoftBank has begun laying off staff at its flagship Vision Fund unit as it plans to slash headcount by around 30 per cent, according to reports.
Investment firms cannot afford to ignore MiFID II three-way reconciliations September 29, 2022 The EU launched MiFID II three years ago, but penalties for non-compliance continue to rise. The number of sanctions issued by national competent authorities (NCAs) in 2020 quadrupled to 613 totalling €8.4m, up from 371 sanctions totalling €1.8m in 2019. Firms incur penalties simply because their reports contain errors. According to a 2021 ACA report, [...]