Experts blame France pipping UK to EU investment crown for second straight year on Brexit May 11, 2023 Experts have today partially blamed post-Brexit uncertainty for helping France pip the UK to Europe’s investment hub crown for the second year in a row. The UK was home to 15.6 per cent, or 929, of all European foreign direct investment (FDI) projects last year, down from 16.9 per cent in 2021, according to consultancy [...]
Bank of England to usher in new era of higher interest rates after sending them to near 15-year high today May 11, 2023 The Bank of England will rip up the monetary policy order of the last decade and keep interest rates far above their post-financial crisis rock bottom levels over the coming years, new forecasts out today claim. UK borrowing costs are on course to top four per cent for the whole of this year and next [...]
FTSE 100 close: ASOS shares nosedive 22 per cent after posting dim results May 10, 2023 London’s FTSE 100 slipped in the City today as online fashion retailer ASOS was pummelled after a dim set of results. The capital’s premier index shed 0.29 per cent to close at 7,741.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]
Liontrust faces battle with GAM investors over ‘unfair’ £96m takeover swoop May 10, 2023 London-listed fund manager Liontrust is facing a battle with a group of GAM shareholders and a potential challenge from regulators after it swooped to takeover the Zurich-based asset manager last week.
US inflation falls faster than expected to 4.9 per cent, raising chances of Fed rate hike pause May 10, 2023 US inflation fell faster than expected last month, potentially paving the way for the Federal Reserve to pause its aggressive interest rate hike campaign at its meeting next month, official figures unveiled today unveiled. The rate of price increases in the world’s largest economy slipped to 4.9 per cent in April, down from five per [...]
UK businesses turn to temp staff amid recession worries May 10, 2023 UK businesses are turning to part-time staff to avoid locking into long-term contracts for fear of being dragged down by the economic slump, a new survey out today shows. Demand for temporary staff is running much higher than for full-time workers, according to consultancy KPMG and the Recruitment and Employment Confederation (REC). The pair’s permanent [...]
Scandal-stricken Home REIT set to appoint property giant as new investment manager May 10, 2023 Embattled social housing investor Home REIT is set to appoint property giant AEW as its new investment manager as it looks to move on from a string of scandals over the past seven months, City A.M. has learned.
FTSE 100 close: Barclays and NatWest rise on London index as stalling house prices knock builders May 9, 2023 London’s FTSE 100 kick started a fresh week down today, with Britain’s biggest home builders sliding after new figures showed house price growth has stalled. The capital’s premier index nudged 0.18 per cent lower to 7,764.10 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Banking crisis: DIY investors piled into Credit Suisse and Silicon Valley Bank trades during turmoil May 9, 2023 Do-it-yourself investors piled into banking trades in the first quarter of the year as the sector was shaken by the collapse of Silicon Valley Bank and shotgun sale of Credit Suisse to UBS, new data has revealed.
Regulator probes Deloitte over audit of fashion firm Joules May 9, 2023 The Financial Reporting Council has opened an investigation into the audit of embattled retailer Joules today after Deloitte signed off its accounts prior to the firm’s collapse last year.