Energy bill support to cost billions as Ofgem unveils monster £4,279 price cap November 24, 2022 The energy price cap will rise by a further £700 in the new year, Ofgem has announced - a 20 per cent hike to its current record rates.
FTSE 100 closes higher despite yet more recession signals November 23, 2022 London’s FTSE 100 finished higher today despite yet more data signalling the UK is on a one ticket to recession. The capital’s premier index climbed 0.17 per cent to 7,465.24 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped 0.4 per cent to 19,500.5 [...]
Taxman grabs 30 per cent more from Brits over last five years November 23, 2022 The amount of money the taxman takes away from Brits has climbed 30 per cent over the last five years, City A.M. analysis of official figures shows. In the year to 31 October this year, HMRC collected £757bn in taxes, up from £584bn in 2015/16, stats out this week reveal. The rise in tax revenues [...]
UK healthcare: three changes I’d be thankful for November 23, 2022 | Sponsored The festive season here in the UK has not quite begun, but within American businesses like ours it’s traditional at this time of year for people to reflect and celebrate Thanksgiving Day to give thanks for our health and happiness, for our friends and family. Like many people across the UK, one thing I’m incredibly [...]
UK economy arrests decline but recession still coming November 23, 2022 The UK economy has arrested a decline, but it still looks likely to tip into a long recession, a closely watched survey out today has unveiled. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) flash purchasing managers’ index (PMI) for November inched up to 48.3 points from 48.2 in October. It is [...]
City job losses loom amid government tax grab and recession November 22, 2022 Square Mile banks, brokers and insurers will shed jobs to alleviate pressure on their balance sheets from the government hiking taxes, the new Lord Mayor of the City of London has warned. Nicholas Lyons, the freshly minted 694th Mayor of the City, told Bloomberg today he expected “there will be some job losses” after chancellor [...]
L&G chiefs lay blame for LDI pension crisis at Truss’s door November 22, 2022 Legal & General chiefs said no one could have predicted the “extraordinary instability” that rocked pension funds in the wake of Liz Truss’s ’mini-budget’ today, as they pointed the finger squarely at the government for the scale of the crisis.
Dealmaker’s Spotlight: Hannam & Partners November 22, 2022 | City Talk Datasite recently spoke with Sam Merlin, Partner at Hannam & Partners, to hear his thoughts and insights on the energy sector and what lies ahead for the market and dealmaking. Hannam & Partners is a leading independent investment bank with expertise across the energy, mining, and financial services sectors. Owned by its partners, Hannam & Partners [...]
UK borrowing surges to £13.5bn on energy price cap support November 22, 2022 UK borrowing surged over the last year due to the government partially covering the cost of household energy bills, official figures out today reveal. The UK’s debt pile swelled £13.5bn last month, up more than £4bn compared to October 2021, according to the Office for National Statistics (ONS). Although high, the figure was far below [...]
UK slumps to bottom of G7 economy league next year, OECD predicts November 22, 2022 The UK economy will languish behind its rich counterparts next year amid a tough inflation surge driven by worker shortages and an “untargeted” energy support package, a new report reveals. Britain’s economy will shrink 0.4 per cent next year, the worst performance of any country in the G7, according to the Organisation for Economic Co-operation [...]