Investor visa floated to reverse exodus of millionaires May 15, 2025 Keir Starmer’s government is reportedly looking to introduce a special visa for foreign investors in an attempt to reverse the tide of millionaires leaving the UK. Officials are at the early stages of drawing up a visa which would provide an olive branch to wealthy businessmen keen to fund in areas such as artificial intelligence [...]
Interest rate cut hopes fade after Bank of England decision May 8, 2025 City investors have lowered expectations of multiple interest rate cuts later in the year after the Bank of England decided to reduce rates to 4.25 per cent. Prior to the Bank’s decision on Thursday at 12.02 pm, markets priced in around three more cuts this year in predictions that would take interest rates to 3.5 [...]
Fed expected to hold interest rates and vex Trump May 7, 2025 The US Federal Reserve will not bring interest rates down until July, Goldman Sachs has predicted, in what may spark a fresh conflict between President Trump and Fed chair Jerome Powell. The world’s most powerful central bank has held back from making interest rate cuts due to a foggy outlook on what a trade war [...]
US services growth ‘stalling’ as recession looms large May 5, 2025 Donald Trump’s tariffs are having a knock-on effect on growth in the US services, fresh data has suggested, as market uncertainty prompts business leaders to delay investment decisions. The US president’s trade policies have confused firms in the sector despite exemptions from taxes on imports, S&P Global said on Monday. April saw its lowest level [...]
Exclusive: Goldman Sachs International boss joins non-dom exodus April 24, 2025 Goldman Sachs’ most senior banker outside America is joining the growing ranks of wealthy foreigners leaving the UK to avoid the government’s crackdown on non-doms, City AM can reveal. Richard Gnodde, the investment banking juggernaut’s vice chairman, is moving to Milan to avoid changes the Chancellor made to the non-dom regime and foreign-held trusts in [...]
City bonuses beat Wall Street after cap scrapped April 22, 2025 UK financial services handed out the industry’s highest bonuses last year after taking advantage of the lifting of pay restrictions. Workers pocketed an average $149k (£114k) bonus in 2024, according to fresh data from jobs platform eFinancialCareers. This marked a 25.7 per cent jump from 2023 and sent the UK above North America, which rose [...]
Bank of America, JP Morgan, Goldman Sachs: Wall Street cashes in on market volatility April 15, 2025 Wall Street’s banking giants pocketed record revenues in the first quarter of 2025 as market volatility ramped up. Top lenders were able to smash profit expectations after reaping the rewards of a trading boom caused by President Donald Trump’s erratic tariff agenda. Trump’s bait-and-switch on tariffs triggered countless sell-offs as traders across the globe ditched [...]
Goldman Sachs: Profit jumps after record quarter for traders April 14, 2025 Goldman Sachs posted a 15 per cent jump in first-quarter profit. The Wall Street giant’s revenue was boosted by record equities trading amid market volatility. The bank’s first-quarter net revenue was $15.06 bn (£11.4bn), surpassing the analyst consensus of $14.8bn (£11.2bn). Net earnings were $4.74bn (£3.6bn). Equity-trading revenue rose 27 per cent from the previous [...]
British firms sticking to DEI policies despite Trump crackdown April 8, 2025 UK business leaders are not adjusting their approach to diversity, equity and inclusion (DEI) despite many high profile American counterparts rowing back on their policies in the face of pressure from the Trump administration, a survey has found. According to a poll conducted by the Institute of Directors (IoD), more than seven in 10 (71 [...]
Oil prices plummet as Saudis lead supply drive April 4, 2025 Oil prices are falling to their lowest close since 2021 as eight countries including Saudi Arabia and Russia surprised market leaders by announcing an increase to production. The shock decision by the OPEC+ alliance, delivered via a video conference on Thursday, came less than 24 hours after President Trump’s Liberation Day tariff announcements intensified global [...]