The government’s immigration proposals aren’t perfect but they include plenty to cheer about December 19, 2018 Yesterday, this column predicted that the government's immigration white paper would be a pretty rum Christmas present for business. Today, we have to acknowledge that while the proposals don't satisfy everyone (or more accurately, every sector) there are elements to cheer. The Home Secretary, Sajid Javid, is known for a more liberal approach to immigration [...]
Federal Reserve goes through with expected US interest rate hike, chair Jerome Powell says he is ‘not worried’ about Trump criticism December 19, 2018 The US central bank, the Federal Reserve, has confirmed it is raising interest rates for a fourth time this year in the face of sustained opposition from President Donald Trump. As expected before the announcement, the Fed said it would hike interest rates by 0.25 to a range of 2.25 per cent 2.5 per cent [...]
City A.M.’s shadow monetary policy committee unanimously vote to hold interest rates December 19, 2018 The Bank of England has no choice but to hold interest rates when its monetary policy committee meets tomorrow as Brexit uncertainty continues to loom large, city economists have warned. The Bank’s rate-setting monetary policy committee (MPC) will announce its decision at midday and is expected to leave rates unchanged at 0.75 per cent. City [...]
Whisky makers warn of damage in store in no deal scenario December 19, 2018 The makers of Scotch whisky have issued a warning to MPs that a no deal Brexit scenario would strike a damaging blow to the £4.5bn industry, which is the UK's biggest food and drink export. The Scotch industry, which supports 40,000 jobs across the UK, is particularly sensitive to the fall out from a no deal Brexit because 90 per [...]
Britain risks ‘sleepwalking’ towards Swedish-style cashless society December 19, 2018 An unplanned rush towards a cashless society would risk excluding millions of vulnerable people, especially the elderly and those living in rural areas. Ten years ago, cash was used for six out of every ten payments, but the number of cash payments are now down to one in three. If cash use continues to go down [...]
Why 2019 might be a better year for investors December 19, 2018 | City Talk 2018 has been a disappointing year for most investors. Almost all markets, both stocks and bonds, have fallen in value this year, under pressure from rising interest rates, political developments such as Brexit, and the trade dispute between the US and China. With hindsight, markets were priced for perfection at the start of the year [...]
Celebrations Twix vs Mars… the lesson for investors December 19, 2018 | City Talk Christmas, as my colleague Andy Williams crooningly reassures us, may well be the most wonderful time of the year but, in social terms, it is also potentially the most blunderful. And while solutions to age-old concerns such as gifts people truly have always wanted and friction-free family get-togethers are still works-in-progress, our Value Perspective blog [...]
The year crypto went crazy: what’s next for bitcoin in 2019? December 19, 2018 This was the year the world woke up to cryptocurrencies. When the Bitcoin price bubble burst in December last year, having hit almost $20,000 (£15,886) per coin in value, governments, banks and tech giants alike began to sit up and take notice. The City was faced with a decision: is Bitcoin a vehicle for fraud [...]
Softbank slumps in Tokyo debut after record-breaking IPO December 19, 2018 Shares in Japanese telecoms giant Softbank fell 15 per cent during its Tokyo debut as it record-breaking IPO failed to live up to expectations. Softbank raised roughly ¥2.65tn (£18.5bn) after pricing its shares at ¥1500 a piece in the country’s largest-ever IPO. But shares in the tech giant closed down 14.5 per cent at ¥1,282, [...]
UK inflation falls to 20-month low led by cheaper petrol prices in Christmas boost for households December 19, 2018 UK inflation fell to a 20-month low in November led by cheaper petrol prices in a boost for consumers in the run up to Christmas. Consumer prices rose by 2.3 per cent in November, down from 2.4 per cent the previous month and the slowest rate since March 2017, according the Office for National Statistics. [...]