Bank of England to launch record rate rise to step up fight against 40-year high inflation October 19, 2022 The Bank of England will have to hike interest rates by a record whole percentage point at its meeting on 3 November, City economists are betting today after inflation returned to a 40 year high of 10.1 per cent last month. Prices are still rising sharply despite the Bank already lifting borrowing costs seven times [...]
Regulatory ‘call-in’ powers must not be politicised, City chiefs warn October 19, 2022 Powers allowing ministers to intervene in regulatory matters must not be “politicised” and should only be used “in extremis”, City chiefs have warned today.
Nigerian mobility fintech Moove raises £15m to ramp up UK operations October 19, 2022 Nigerian mobility fintech Moove has raised £15m from asset manager Emso to ramp up operations in the UK. Moove said the financing will help it provide 10,000 electric vehicles to Uber’s fleet as part of its UK launch. This will enable Moove to become Uber’s largest EV provider as the ride hailing giant aims to [...]
Amazon pushes into world of home insurance October 19, 2022 Just when you thought Amazon sold pretty everything, the tech firm announces that it has launched a new home insurance shop. The new offering will allow customers to request and review insurance quotes, select a policy, and then checkout—all on amazon.co.uk The e-commerce giant firm only has three insurers signed up so far, including Ageas [...]
Transport secretary Trevelyan calls for ‘wage restraint’ in rail October 19, 2022 Rail workers’ wage increases need to be realistic as the Treasury cannot cope with salaries going up according to inflation rates, transport secretary Anne-Marie Trevelyan said. “Within the rail sector we have to maintain wage restraint because we’ve already spent £16bn just keeping it going,” Trevelyan told the transport select committee earlier today. “So it [...]
Exclusive: MPs will get vote on how local consent is given to fracking projects October 19, 2022 MPs will be given a say on how local communities can approve or block new fracking sites, business secretary Jacob Rees-Mogg has told Tory MPs today. Rees-Mogg said in a letter to all Conservative MPs, seen by City A.M., that a consultation on how to establish local consent for new fracking projects will begin next [...]
Quilter assets slide as volatility shakes markets October 19, 2022 Shares in wealth manager Quilter dived this morning as the FTSE 250 firm revealed its assets under management tumbled to £96.9bn in the three months to the end of September.
Ithaca Energy to test investor appetite with London listing October 19, 2022 Ithaca Energy (Ithaca) has announced plans for a London listing, gauging investor appetite for oil and gas companies.
City calls: Clifford Chance looks to trade Canary Wharf for the Square Mile October 19, 2022 Magic circle law firm Clifford Chance is looking to give up its tenancy in Canary Wharf and return to the heart of the City of London after a decade. British property development investment fund Great Portland Estates (GPE) has confirmed that it is in talks with the firm for a pre-letting of one of its [...]
The Italian Job: Octopus announces joint green energy venture with Nesta October 19, 2022 Octopus Energy Generation has continued its expansion plans into Europe, deepening its role in Italy’s green power market.
