Hunt and big banks vow to ease mortgage pain with repossessions grace period June 23, 2023 Mortgage holders will get a 12-month grace period before banks begin repossessions on their homes, Jeremy Hunt has announced, after a crunch meeting with lenders at No11. The Chancellor said ministers were “particularly worried” about people falling behind on payments or having to switch deals at the end of a fixed rate mortgage. He announced [...]
Bank of England tells insurers to brace for persistent ‘claims inflation’ June 23, 2023 Insurers must rigorously assess the impact on their solvency of the rising cost of settling car, property and other claims and ensure they have sufficient reserves, the Bank of England told the sector on Friday.
Tokenisation: How to take advantage of it June 23, 2023 Temple Melville, CEO of The Scotcoin Project Community Interest Company, examines tokenisation and its deep roots in financial history.
Ex Asda boss: Cutting prices for cash-strapped Brits is ‘very important’ after Sunuk plea June 23, 2023 Supermarkets regard cutting prices as “very important”, according to a former boss of Asda, after the Prime Minister warned retailers about pricing “responsibly and fairly”. Andy Clarke, who served as Asda’s chief executive officer between 2010 and 2016, said the big chains were “heavily focused” on competitive pricing as the industry hit back over suggestions [...]
GSK settles lawsuit over heartburn drug Zantac with alleged cancer links but ‘admits no liability’ June 23, 2023 Pharmaceutical giant GSK has revealed it has settled a lawsuit relating to discontinued heartburn drug Zantac, which was alleged to be linked to cancer. Shares in GSK jumped after it said an upcoming trial was cancelled but that it does not admit liability. The company hit back at allegations last year that the use of [...]
Lidl gets injunction over Tesco trademark infringement – and it could cost UK’s biggest grocer £8m June 23, 2023 German-owned discount supermarket Lidl can have an injunction to stop rival Tesco copying its logo, London’s High Court has ruled, despite hearing it will cost Tesco nearly £8m pounds to remove them all. Britain’s biggest retailer Tesco in April lost a trademark lawsuit brought by Lidl after Tesco adopted a yellow circle against a blue [...]
Inflation and growth fears weigh down UK manufacturing June 23, 2023 Higher interest rates, strong inflation and pessimistic expectations for growth are weighing the UK's services and manufacturing sectors.
A monumental rebuild of Ukraine requires private sector bridges between London and Kyiv June 23, 2023 Sergii Pylypenko is CEO of Kovalska Group, one of Ukraine's largest firms. In a guest essay for City A.M., he calls on the private sector to get behind the country's rebuilding
London money managers bet on UK debt as interest rate hike threatens recession June 23, 2023 Money managers in London are scrambling to rejig their portfolios as they brace for a period of longer interest rate pain following the Bank of England’s move to hike rates again yesterday.
NatWest, Lloyds, HSBC, Barclays and Santander leaders meet Jeremy Hunt in ‘productive’ mortgage crisis talks June 23, 2023 Bank bosses held a “productive” meeting with Chancellor Jeremy Hunt as the rates increase worsens the mortgage crisis. Natwest chief executive Alison Rose, speaking to reporters as she left Downing Street, said lenders were “doing everything we can” and were “very keen” to help customers. Lloyds Banking Group boss Charlie Nunn described the meeting as [...]
