FTSE 100 close: London index nips higher as Bank of England rate hike bets step up July 11, 2023 London’s FTSE 100 crept higher today as another set of hotter than feared wage numbers pushed pound sterling to its highest level in 15 months. The capital’s premier index nipped 0.12 per cent higher to 7,282.51 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Government looks to scrap EU short selling rules in post-Brexit deregulation drive July 11, 2023 The government is looking to ditch EU-era short selling rules and will scrap a requirement for individual investors to reveal their bets against companies as part of a post-Brexit push to scrap red tape in the City.
Pension funds may need a nudge into the stock market after £50bn start-up pledge, says City minister July 11, 2023 The government may next need to push top pension funds to invest in London’s stock market as ministers look to solve a dearth of domestic investment in Britain’s big listed firms, the City minister has said.
UK must prioritise financial inclusion over the City’s competitiveness, says former FCA chair July 11, 2023 The UK “can’t go on” prioritising the competitiveness of the City over the financial access of millions of vulnerable people during a cost of living crunch, the former chair of the Financial Conduct Authority has warned.
Why record wage growth could seal another jumbo interest rate rise from Bank of England July 11, 2023 It seems strange to cheer what economists call a “loosening in the labour market”. What that basically means is: employment growth is slowing, joblessness is on the up, vacancies falling and wage growth receding. Most of those requirements were met in today’s release from the Office for National Statistics (ONS). In a shock to the [...]
Shock record wage growth amplifies risk of 14th straight Bank of England interest rate rise July 11, 2023 Workers’ pay is rising faster than expected and at among the quickest paces on record in a sign that the Bank of England will deliver a 14th straight interest rate rise next month, official figures out this morning reveal. Pay excluding bonuses rose 7.3 per cent over the three months to May on an annual [...]
The FTSE 100 has done us all dirty… again July 11, 2023 The FTSE 100 has done us all dirty yet – again. Over and over it marches us up a hill only to send us back down again. Former Bank of England governor Mark Carney is often referred to as the “unreliable boyfriend” of monetary policy making for his comments signalling he and the MPC would [...]
FTSE 100 close: London index muted as interest rate fears linger July 10, 2023 London’s FTSE 100 kicked off a new week just about in the green today as a reduction in UK debt costs gave the index a reprieve from a torrid time of late. The capital’s premier index edged 0.23 per cent higher to close at 7,273.80 points, while the domestically-focused mid-cap FTSE 250, which tends to [...]
Bank of England won’t hesitate to hike rates if inflation persists, warns Andrew Bailey July 10, 2023 The Bank of England will have to keep on lifting interest rates if wages keep rising at a near record pace and businesses continue to pass on swelling costs, Governor Andrew Bailey has signalled today. In a speech delivered at the annual Mansion House bankers’ dinner, Bailey said price pressures emanating from the labour market [...]
Accelerating redundancies ‘big concern’ for UK economy as firms sweat over recession July 10, 2023 Accelerating redundancies sparked by businesses sweating over whether the UK economy is on course for a recession are a “big concern” for the country, experts have warned today. Company layoffs have pushed the volume of unemployed workers available for jobs to its highest level since December 2020, when the UK was in the teeth of [...]