FCA tells pension providers to green up investments November 25, 2021 Personal pension providers will need to offer savers a default investment option to help people not taking financial advice build up enough funds to afford retirement under new rules launched by the City watchdog today. A new personal pension regime, set out by the Financial Conduct Authority (FCA), recommends default personal pension options will need [...]
Beijing urges media not to overhype JPMorgan chief’s Chinese Communist Party quip November 25, 2021 Beijing authorities have asked global media not to overhype JPMogran chief Jamie Dimon’s quip about the Wall Street giant outliving the Chinese Communist Party. China’s foreign ministry spokesman Zhao Lijian said yesterday he had “noted the reports” quoting Dimon’s jibes at the organisation which has ruled the state for decades. Lijian said he had also [...]
Retailers hike prices at fastest pace in three decades as Brits brace for Xmas shopping crunch November 25, 2021 Retailers are hiking prices at the fastest pace in over three decades as Brits rush to scoop up Christmas presents to avoid being left empty handed, reveals fresh research published today. Some 77 per cent of retailers raised prices over the last three months to November, the highest rate since 1990, according to data from [...]
MJ Hudson swings to loss despite strong demand for PE and ESG funds November 25, 2021 Financial services consultancy and fund manager MJ Hudson swung to a loss this year despite an uptick in demand for its private equity and ESG products, reveal new figures published this morning. The AIM-listed firm, founded in 2010, registered a £5.3m loss before tax on a statutory basis in the year to June, narrowing from [...]
Exclusive: Small businesses primed to drive UK economic recovery in coming months November 25, 2021 Small businesses are set to drag the UK economy out of the doldrums, reveals exclusive research shared with City A.M.. Rapidly rebounding small businesses in London, compounded by workers receiving a pay bump across the country, has lifted a closely watched indicator measuring the health of the small business economy. Xero’s small business index climbed [...]
Millions of Brits plunged into financial crisis by whirlpool of inflation and swelling energy bills November 25, 2021 Swelling energy bills, soaring inflation and stinging food costs have plunged millions of Brits into a winter financial crisis, reveal new figures released today. 3.2m poorer households who rely on wafer thin budgets to meet the cost of living will be unable to pay for basic things, research by Citizens Advice, the charity that supports [...]
JPMorgan will outlive China Communist Party, jokes boss November 24, 2021 The boss of Wall Street giant JPMorgan has taken a swipe at the Chinese Communist Party, breaking an unspoken rule among business leaders ensuring they keep schtum on Beijing. Jamie Dimon, 65, joked that the investment bank will outlive the Communist Party, which was founded in 1921. JPMorgan first entered China in the same year. [...]
Record level of UK factories intend to hike prices November 24, 2021 UK factories are bracing to hike prices to offset a margin assault caused by supply chain breakdowns, according to new figures released today. Over three thirds of British manufacturers are intending to raise prices, the highest proportion since the Confederation of British Industry (CBI), who produce the figures, started tracking the data in 1977. Global [...]
Real estate stocks build foundation for positive day in the City November 24, 2021 A strong performance among real estate stocks built the foundations for a positive day on London markets this morning. The capital’s premier FTSE 100 index climbed 0.46 per cent to 7,299.88 points, while the mid-cap FTSE 250 added 0.08 per cent to hit 23,240.57 points. The City was lifted by the likes of housebuilder Barratt [...]
Asia sales and Covid-19 unlocking boost luxury retailer Mulberry November 24, 2021 The Covid-19 unlocking and booming sales in Asia have boosted luxury fashion retailer Mulberry, reveal new figures released today. Income at the London-listed retailer climbed 34 per cent to over £65m, up from £48.9m in the same period last year. Profits jumped to £10.2m, largely driven by the sale of shop leases in France. UK [...]