Gemfields unveils bumper £63.1m sales as rubies prove recession resistant June 21, 2023 Gemfields has announced a hefty hike in revenues at its latest ruby auction, with buyers embracing coloured gemstones.
Shadow banks need ‘increased resilience’ to avoid financial stability concerns, Bank of England warns June 21, 2023 The Bank of England’s Lee Foulger warned there needed to be “increased levels of resilience” in the shadow bank space to avoid risks to financial stability. With increased regulation of the traditional financial sector since the financial crisis, Foulger, a director, financial stability, strategy and risk. said “it is no surprise that over that time [...]
Revolution or all-out war? Firm brands ‘hostile’ Boohoo coup ‘self-serving and opportunistic’ June 21, 2023 All eyes turn to the AGM of troubled fashion giant Revolution Beauty as it hit back at “hostile” shareholder Boohoo ,labelling its attempted coup as “opportunistic” and “self-serving”. Boohoo, which holds a 26.6 per cent stake in the Revolution, revealed it would vote against chief executive Bob Holt, chairman Derek Zissman and chief financial officer [...]
Holding top execs to account ‘critical’ to maintaining robust regulation, Bank of England says June 21, 2023 Holding top banking executives to account is a “critical” part of the regulatory regime, a Bank of England official said today, as the central bank consults on the largest changes to its enforcement policies in a decade. The Bank’s head of enforcement and litigation Oliver Dearie said “the Bank continues to consider individual accountability to [...]
Network Rail must be held to account for poor performance, says minister June 21, 2023 The performance of Network Rail has “not been good enough,” rail minister Huw Merriman said today, stating that the body must be properly held to account to ensure it improves the UK’s rail infrastructure. Speaking at a transport committee hearing, Merriman told MPs that a major challenge for train operators “is the performance of Network [...]
PMQs sketch: Nothing’s funny about the economy, stupid June 21, 2023 Of course Rishi Sunak can’t bail out mortgage holders, but he doesn’t want to hear about it.
Revealed: The London constituencies that will be worst hit by mortgage rate rises June 21, 2023 Mortgage holders in London and the Southeast are set to be the worst hit by the “crippling” mortgage rate rises on the horizon, new data shows. The top twenty areas of the country set to see the highest increase in their mortgage repayments increase are concentrated around the capital and the commuter belt, according to [...]
Gas prices rise in UK and Europe on surging summer demand for air conditioning June 21, 2023 Soaring demand for air conditioning across Europe has contributed to the latest spike in gas price, experts suggest.
Google is ‘killing off industries’ with online ad monopoly, tech bosses tell Westminster committee June 21, 2023 Several small tech companies have accused Google of stifling competition due to its monopoly of the online advertising market – amid calls to increase competition by lawmakers. The House of Lords communications and digital committee heard the tech giant is “killing off industries”, and that its dominance leads to higher prices. In the hearing which [...]
Housing market a ‘ticking time bomb’ as prices slow amid mortgage mayhem June 21, 2023 The housing market has slowed amid the mortgage crisis, with experts warning it is like a “ticking time bomb” before it crashes. This morning’s House Price Index from the Office for National Statistics (ONS) show average UK house prices increased 3.5 per cent in the 12 months to April 2023, but this was down from [...]
