FTSE 100 close: Softening China economy hits London index as WH Smith and B&M soar May 31, 2023 London’s FTSE 100 was dragged lower today by softer than expected data from China signalling the world’s second largest economy is on the wane. The capital’s premier index slid 0.98 per cent to 7,448.01 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.45 [...]
Monzo: Digital bank narrows losses as it chases fintech rivals toward profitability May 31, 2023 London-based challenger bank Monzo said it narrowed its losses last year and has now swung into the black as it scrambles after its rivals in the race to reach steady profitability.
Bank of England to surpass Federal Reserve and hike interest rates to 15-year high May 31, 2023 The Bank of England will have to hike interest rates to their highest level in more than 15 years to tackle sticky inflation that will stay above its target for at least another three years, a top Wall Street investment bank has warned today. Researchers at Goldman Sachs suspect businesses will carry on passing on [...]
The taste of freedom May 31, 2023 | Sponsored Describing the most popular dish on her menu, Caroline Gardner leaves little to the imagination. That would be “our papadias which are like quesadillas but with crispy mashed potato and grilled onions. And then fried, but crispy on the outside and fluffy on the inside. And covered in salsa.” Caroline, with help from her mother [...]
London businesses most confident in the UK amid economic slowdown May 31, 2023 London businesses are poised to lead the UK economy out of its slowdown, although they remain acutely concerned about the impact of higher interest rates and scorching inflation, a new survey out today shows. Confidence among the capital’s firms slimmed four points to 43 per cent, although that was the highest reading of any area [...]
Home REIT shareholders aren’t holding their breath for more answers May 31, 2023 Many of Home REIT’s shareholders, tenants and adversaries hoped the appointment of a new investment adviser last week would signal an end to the obfuscation of the past seven months. AEW, a recognisable and seemingly safe pair of hands, gave some reasonable hope it would be straight talking from then on. No such luck. Yesterday’s [...]
Revealed: KPMG slashes UK bonuses as dealmaking drought hits fees May 31, 2023 KPMG has slashed the bonus pool of its UK workforce and reined in commission for salespeople as its profits falter amid a slowdown in the dealmaking environment this year, City A.M. has learned.
FTSE 100 close: Debt ceiling breakthrough fails to lift London index as recession fears reignite May 30, 2023 London’s FTSE 100 dropped sharply today as recession fears outweighed US lawmakers closing in a deal to end the debt ceiling deadlock. The capital’s premier index slid 1.38 per cent to 7,522.08 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly flat, closing [...]
More to come: Bunzl doubles down on dealmaking bonanza as it sails past 200 acquisitions May 30, 2023 Ever-acquisitive outsourcing group Bunzl said it is eyeing yet another spate of deals today as it passed the 200 acquisition mark with the purchase of two Brazilian and Spanish safety distributors. In a statement this morning, the FTSE 100 London-based firm said it had struck two deals to buy Leal Equipamentos de Proteção, a specialised [...]
Inflation to top Bank of England target until at least 2026, Goldman Sachs warn May 30, 2023 Inflation in the UK is set to top the Bank of England’s target for at least the next three years, likely forcing governor Andrew Bailey and co to tip the country into recession via yet more interest rate rises, a top Wall Street bank has warned. Researchers at Goldman Sachs late last night hiked their [...]