CYBG shares soar as it boosts mortgage lending but warns of ‘uncertain’ market conditions February 6, 2019 CYBG has unveiled 1.5 per cent mortgage growth for the first quarter of its financial year, but warned of uncertain market conditions ahead. The bank, which acquired Virgin Money on October last year, said mortgages had hit £60bn in the three months to 31 December, which it said was the result of a strong pipeline and good [...]
Charity Commission issues official warning to IEA over legal breaches in Brexit report February 5, 2019 The charities regulator has issued an official warning to the Institute of Economic Affairs (IEA) for breaking charity law in a report about Brexit. The Charity Commission today censured the Westminster think tank for a report into the post-Brexit economy in the UK, which was published in September but has since been taken down. Read [...]
UK economy set for much-needed spending boost thanks to Chinese tourists February 5, 2019 The UK economy is set to receive an international spending boost as tourists from outside the EU continue to splash out in spite of Brexit worries. International spend will increase four per cent year-on-year over the next 90 days, according to forecasts from tourism shopping firm Global Blue. Read more: China's success will depend on the [...]
May vows to avoid hard Ireland border as she seeks changes to Brexit deal February 5, 2019 Theresa May sought to reassure Northern Irish business leaders today that she will not allow a Brexit deal to create a hard border in Ireland. Delivering a speech in Belfast, the Prime Minister said her commitment to avoiding a hard border between Northern Ireland and the Republic of Ireland is “unshakeable”. Read more: Chris Grayling: [...]
Chris Grayling says it will be the EU’s fault if Britain leaves without a deal on 29 March February 5, 2019 Transport secretary Chris Grayling has said the blame will lie with Brussels if the UK crashes out of the EU without a deal on 29 March. The Cabinet minister said the UK government had done all it could to secure an agreement and that it would be down to the EU's failure to compromise me if a [...]
What is the outlook for interest rates in 2019? February 5, 2019 | City Talk US Concern over the outlook for US interest rates was one of the dominant themes of 2018, especially as the year progressed. President Trump got involved in the debate, tweeting in December that it was “incredible” that the US Federal Reserve (Fed) was considering raising interest rates again. Despite the pressure from the president, the [...]
Janus Henderson Group’s assets under management fall in volatile market February 5, 2019 Assets under management (AUM) at Janus Henderson Group plummeted $50bn (£38.43bn) last quarter amid volatile markets. The company, which was formed through the 2017 merger of Henderson Group and Janus Capital Group, saw AUM fall 13 per cent from $378.1bn to $328.5bn in the three months to the end of December. Read more: Blackrock assets [...]
Weathering the storm: City expects minimal Brexit impact on jobs February 5, 2019 The number of City jobs expected to move overseas in the event of a hard Brexit has fallen to just 2,000 – according to the latest survey of financial institutions. A Reuters study also suggests that investment banks are planning to increase their London headcount. In September, the Reuters survey showed that 5,766 jobs would [...]
Wray of light: serial investor on why small firms are the ‘spice of life’ February 5, 2019 | Sponsored Westminister can be a little sleepy over the weekend – the politicians, civil servants, lobbyists and other politicos drifting off to the shires. But the weekend of 30 March will be different. For starters the Saturday is the day after the UK is scheduled to leave the European Union. It seems unlikely the country will ‘go [...]
City broker Numis warns trading performance hit by Brexit uncertainty February 5, 2019 City broker Numis warned today that Brexit has negatively affected its trading performance in the first four months of the financial year ahead of its annual general meeting (AGM) this afternoon. Shares were down more than six per cent this morning as the firm revealed it had completed 25 per cent fewer deals compared to [...]