UK household wealth swells £900bn during Covid pandemic July 12, 2021 The stock of household wealth in the UK swelled by £900bn to £16.5 trillion over the course of the Covid pandemic, according to new figures published today. Research carried out by the Resolution Foundation shows middle-wealth families have experienced the biggest relative wealth rises of each household group, up 9 per cent, or £7,800, taking their average [...]
Startup funding in Europe on track for record year July 9, 2021 Europe is set to see its biggest year for startup investment, with US investors especially keen to back companies. Startups received three times more funding in the first half of this year compared to that of 2020, according to data from Dealroom reported by Politico. While Europe’s start up scene has lagged behind that of [...]
US stocks open higher to reverse yesterday’s losses July 9, 2021 US stocks opened up on Friday, helping to pare back sharp losses on Thursday. The blue-chip S&P 500 added 0.84 per cent in morning trading to reach 4,357. The tech-heavy Nasdaq gained 0.67 per cent, while the Dow Jones was up sharply by 1.11 per cent during the open. American benchmarks’ rebound was driven by [...]
UK economic rebound slowing despite despite easing measures July 9, 2021 The UK’s economic rebound slowed sharply in May despite further easing in social-distancing measures. Watch the full report.
Euros 2020: Bank holiday, sick day or in mourning? Businesses urged to be flexible day after final July 9, 2021 There are increasing calls from business groups, unions, and the public, for employers to offer flexibility to staff for the day after the Euros 2020 final, as the Prime Minister is under pressure to announce a bank holiday if England win. “Businesses across England will recognise the momentous nature for many of the prospect of [...]
Credit Suisse takes measures to reduce counterparty risk following Greensill Archegos scandals July 9, 2021 Credit Suisse has created a new role to manage risk from lending to counterparties sensitive to market moves, such as investment banking clients. The bank appointed Amélie Perrier to the newly created role of Head of Counterparty Market Risk, according to a Reuters report. Memo In an internal memo released today, the bank said: “In [...]
Five years since Brexit: four charts to show UK shares could be returning to favour July 9, 2021 | City Talk As Brexit negotiations reached their denouement late last year UK investors sensed the outlook for their home market improving. The Schroders 2020 UK Financial Adviser Survey revealed 40% of respondents were looking to increase allocations to UK shares over the subsequent 12 months, see: Are investors adjusting to the new normal? Six months on, with a “no-deal” outcome [...]
UK economy grows 0.8 per cent in May July 9, 2021 The UK economy expanded in May, but at a much slower pace than in recent months as growth stalled in retail, manufacturing and construction, new figures released today show. GDP rose 0.8 per cent in May 2021, the fourth consecutive month of growth, according to the ONS. The expansion was driven by a resurgence in [...]
Post-Brexit rebound: UK exports to EU climb rapidly July 9, 2021 UK exports to the EU have climbed sharply, defying fears that Brexit would dampen trade between the two blocs, figures published today reveal. Exports of UK goods to the EU jumped eight per cent in May, an increase of £1bn over the last month, according to the ONS. Total exports of UK goods to all [...]
City A.M. TV: A market snapshot July 9, 2021 After a number of weeks of strength in global risk assets, some cracks began to emerge in markets this week.