Lloyds Bank’s profits in the lift as lender’s mortgage book surges to £293bn February 24, 2022 Lloyds Banking Group has become the latest lending giant to post a bumper annual profit haul after releasing Covid loan loss provisions thanks to the UK’s economic recovery. The group has reported pre-tax profits surging to £6.9bn in 2021, up from £1.2bn the previous year after releasing Covid loan loss provisions thanks to the UK [...]
Go-Ahead says government decision to strip rail operator from South Eastern franchise cost £51.3m February 24, 2022 Go-Ahead group’s stripping of the London Southeastern rail franchise is to cost the business around £81.3 million, the company said. Bosses revealed they expect to pay the Government £51.3m over its failures in running the service, which it lost last year, and has put aside £30m for a possible fine. Around £49.2m has already been [...]
Invasion of Ukraine: Asian stock markets plunge while oil jumps and all flights ordered to avoid airspace February 24, 2022 Asian stock markets plunged and oil prices surged after Russia’s President Vladimir Putin announced Russian military action in Ukraine. Market benchmarks in Tokyo and Seoul fell 2 per cent and Hong Kong and Sydney lost more than 3 per cent this morning while oil prices jumped nearly 3 dollars (£2.22) per barrel on unease about [...]
Bumper results ease Russia-Ukraine fears in the City February 23, 2022 London’s top indexes were muddled yesterday despite some of the City’s largest companies reporting bumper results, boosting investor sentiment. The capital’s premier FTSE 100 index edged 0.05 per cent higher to 7,498.18 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.72 per cent to [...]
Bank of England Governor Bailey doubles down on pleas to go easy on pay demands February 23, 2022 The Governor of the Bank of England yesterday doubled down on his pleas to workers to temper pay demands despite households facing the worst cost of living squeeze in a generation. Andrew Bailey added to his previous comments when responding to a grilling by MPs, also calling on businesses to exercise restraint during price setting [...]
Preventing entrenched inflation will require inflicting economic self-harm, IMF warns February 23, 2022 Preventing inflation from spiralling out of control will require dealing a heavy blow to the UK’s economic health, the world’s economic watchdog warned today. Getting inflation back down to the Bank of England’s two per cent target will come with the trade off of squeezing households’ living standards and choking economic growth, the International Monetary [...]
An update from CEO, Andrew Bell February 23, 2022 | Sponsored To watch the update video in full, visit: https://doceo.tv/funds/witan A one-stop shop for global equity investment, offering growth in capital and income. Witan investment Trust searches for the best managers around the world to create a portfolio diversified by region, investment sector and individual company level. This multi-manager approach also reduces the potential risks arising [...]
An update from Fund Manager, Evert Castelein February 23, 2022 | Sponsored To watch the update video in full, visit: https://doceo.tv/funds/abrdn-european-logistics-income Within this latest video, fund manager Evert Castelein provides an update on the European Logistics market, noting the post-pandemic trend of companies moving production from Asia back to Europe in efforts to make supply chains more resilient. Evert talks us through the current ASLI portfolio and [...]
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The UK’s largest, must attend event for private investors is back! February 23, 2022 | Sponsored Saturday the 19th March 2022 The Business Design Center, Islington Get your free ticket with code ‘CITYAM’ at checkout The UK’s largest investment show for private investors is back for 2022 and better than ever before. Join world leading entrepreneurs, investors and fund managers as they discuss today’s trends and tomorrow’s opportunities. Building on its [...]