City watchdogs risk ‘watering down’ London rules in red tape bonfire, FTSE bosses warn July 25, 2023 City watchdogs are at risk of “watering down” standards in the capital as the government throws its weight behind with a slew of reforms to the listings regime and capital markets, FTSE bosses have warned.
Taxpayer to hand over £150bn to Bank of England to cover QE losses July 25, 2023 Taxpayers will have to foot a £150bn bill to cover cumulative losses on the Bank of England’s bond buying scheme over the coming decade, a new projection has claimed today. The Treasury is forecast to inject hundreds of billions of pounds into the central bank’s balance sheet to make up for a shortfall in its [...]
IMF warns Germany and UK will be G7’s laggards this year despite upgrades July 25, 2023 Britain is on course to register the second weakest growth in the clutch of rich countries this year, beaten only by Europe’s economic powerhouse Germany, which will be the only advanced economy to contract this year, the world’s lender of last resort has signalled today. UK output will expand 0.4 per cent this year, the [...]
UK recession risk just got a whole lot lower after inflation undershoot July 25, 2023 From the Bank of England to recession warnings, Jack Barnett gets under the skin of Britain’s economy in his weekly column Bank of England Governor Andrew Bailey would not have been the only person in the City last week breathing a sigh of relief after the better than expected inflation numbers. It was the first [...]
FTSE 100 close: Barclays, HSBC and Lloyds retrace losses as Ocado soars July 24, 2023 London’s FTSE 100 retraced early losses today to close in the black, driven higher by online supermarket Ocado surging after it settled a dispute over its warehouse technology. The capital’s premier index climbed 0.19 per cent to 7,678.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Eurozone edges nearer to recession while UK economy ‘stalls’ July 24, 2023 The European economy has edged closer to recession, while the UK is on the brink of slipping into negative growth, closely watched surveys out today reveal. A snapshot of the eurozone’s respective economies showed high inflation and the European Central Bank’s (ECB) efforts to tame it with interest rate rises is cooling activity. Hamburg Commercial [...]
Liontrust waives key GAM offer term after spat with rebel shareholders July 24, 2023 Liontrust Asset Management has backed down on a key condition of its offer for Swiss rival GAM today after facing from a rival group of shareholders on its offer.
FTSE 100 CEO churn reaches five year high, but women continue to miss out on top roles July 24, 2023 Women are much less likely than men to secure the top job at Britain’s largest companies despite FTSE 100 firms shaking up their boardrooms at the fastest pace in five years, a new study out today shows. Just 27 per cent of chief executive appointments on London’s premier stock index in the first six months [...]
UK inflation will top Bank of England two per cent target until end of 2024, EY claims July 24, 2023 Inflation will top the Bank of England’s two per cent target for over a year, hobbling UK economic growth and eroding workers’ finances, new forecasts out today claim. Prices are set to ease much slower than previously expected due to food and energy costs remaining elevated, according to consultancy the EY Item Club. UK inflation [...]
Federal Reserve and European Central Bank may back final rate rises this week, experts bet July 24, 2023 US Federal Reserve and European Central Bank officials could launch their final interest rate rises this week as inflation ebbs in their respective economic blocs, experts are betting. Members of the federal open market committee (FOMC) are on Wednesday tipped to raise borrowing costs 25 basis points to a range of 5.25 per cent and [...]