Wall Street: US stocks plunge on fears that interest rates will stay high September 22, 2023 Wall Street fell sharply in an ugly day for stocks worldwide on expectations that US interest rates will stay high well into next year. The S&P 500 lost 1.6 per cent for its worst day since March. That followed a drop of 0.9 per cent from Wednesday after the Federal Reserve indicated it may cut [...]
Bank of England: Have interest rates hit their peak? September 21, 2023 Economists think rates are at their peak after the Bank of England decided to leave rates unchanged for the first time in nearly two years.
Arm and Instacart slides shows the global IPO window may have already slammed shut September 21, 2023 A slide in the value of Arm and delivery outfit Instacart have dampened hopes that the global IPO market is about to swing wide open, analysts have warned today.
Emerging Technologies: Unveiling the Future of AI, VR, AR, and Blockchain September 21, 2023 | Sponsored Technology is always advancing at a steady pace, but sometimes it takes a great leap forward. Now, looking around at some of the technology we have today, it feels like quite a few of these great leaps have occurred very recently. We have artificial intelligence doing things even science fiction writers hadn’t imagined, while both [...]
FTSE 100 close: Pound slumps after Bank of England leaves interest rates on hold while Ocado plummets September 21, 2023 The blue-chip FTSE 100 dropped 0.37 per cent to trade at 7,703.03 while the mid-cap FTSE 250m index fell 0.42 per cent to hit 18,632.97.
Government borrows less than official predictions in August thanks to rising tax receipts September 21, 2023 The government borrowed £11.6bn in August, the fourth highest August borrowing figures on record but still lower than official forecasts from the Office for Budget Responsibility (OBR). According to figures from the Office for National Statistics (ONS), higher central government spending meant borrowing was £3.5bn higher than August last year. The only time the government [...]
Inside story: How Cavendish became the City’s newest bank September 21, 2023 In late January, two bankers sat across from each other at the 57-year-old Chelsea haunt La Famiglia for a tete-a-tete over wine and dinner. The traditional Tuscan eatery is something of a hotspot for celebs and off-duty City types – a pre-sanctions Roman Abrahamovic even used to entertain Jose Mourinho there over a bowl of [...]
The Fed holds rates: Now it’s the Bank of England’s time to decide September 21, 2023 The City is split on whether surprise inflation data gives Threadneedle Street cover to pause its rate hike cycle later today
Fed leaves rates on hold – but signals rates could stay higher for longer September 20, 2023 The decision means that the federal funds rate remains at a range of 5.25 per cent and 5.5 per cent, its highest level for 22 years.
Goldman: Bank will likely hold rates after UK inflation surprise September 20, 2023 Goldman Sachs now expects the Bank of England to leave rates on hold tomorrow after this morning's surprise inflation reading.