Crypto-friendly Rishi Sunak means a major boost for Bitcoin Britain October 27, 2022 Rishi Sunak has become the UK’s third prime minister in three months. The new Tory leader is an interesting one from a crypto point of view. As finance minister, Sunak famously ushered in the Financial Services and Markets Bill earlier this year, aiming to bring stablecoins into the UK payments system. He said at the [...]
Heineken cautions over rapid softening in consumer demand for beer October 26, 2022 Dutch brewing giant Heineken has said it is witnessing growing reasons to be cautious about the future after it recorded “some signs of softness in consumer demand”. The brewer, which also makes Amstel and Birra Moretti, highlighted the changing consumer backdrop as it revealed beer volumes rose by 8.9 per cent on a like-for-like basis [...]
Pound climbing fast: UK assets buoyed by PM Sunak as Sterling hits highest level since mini-Budget October 26, 2022 Rishi Sunak’s appointment as PM has buoyed UK assets this morning and is taking the pound towards the 1.16 level against the US dollar, the highest level since the mini-budget. “Almost all news headlines have centred around the appointment of Rishi Sunak as next Tory leader and Prime Minister. Discussing Sterling this morning with City [...]
Telecom giant EE bursts onto the fast-growing cyber security scene with alarm systems October 26, 2022 Telecom giant EE said this morning the company wants to make digital security more accessible to the public. Therefore, the operator unveiled new monthly subscription packages around home and cyber security. EE said customers will be able to buy home security deals – including a home alarm system – and an online cyber security package [...]
Exclusive: Six City firms merge into private equity-backed stakeholder solutions giant October 25, 2022 City A.M. can reveal this morning that six London firms have agreed to merge into a new stakeholder solutions entity that is backed by Falfurrias Capital Partners. The relatively unusual merger, given that six separate firms agreed to combine, involves Ballast Research, Hamilton Place Strategies, Flag Media Analytics, alva, Gotham Research Group, and Decode_M. The [...]
Sinking fast: Jeremy Hunt to ditch Boris Johnson’s £250m Brexit Britain ship October 25, 2022 A £250m national flagship proposed by former prime minister Boris Johnson while in office will be cancelled by the new chancellor, Jeremy Hunt, according to various news reports. In an upcoming round of deep spending cuts, most likely to be announced next week, Hunt reportedly plans to drop the Ministry of Defence project. So far, [...]
WhatsApp down globally, 40m Brits and hundreds of millions impacted around the world October 25, 2022 Meta-owned messaging app WhatsApp went down for over an hour this morning in dozens of countries around the world, including the UK, Netherlands, Germany, Italy, Malaysia, Kenya, India, France and most of the United States and Canada. City A.M. can confirm that the outage was for both personal chats as well as group chats and hundreds [...]
Falling yields take edge off UK borrowing costs but City’s eyes are on Rishi Sunak October 25, 2022 The rebound seen over the course of the last couple of days appears to be being driven by a sharp fall in bond yields, at least in European markets with the sharp drop in UK gilt yields marking the unwind in premium that we saw in the aftermath of the market turmoil post the UK [...]
Pound’s dramatic drop is biggest shock of this year, says City grandee October 24, 2022 The pound’s dramatic fall in the wake of the mini-budget market turmoil was the group’s biggest shock of the past year as a City insider likened the sterling sell-off to the Turkish lira crisis. Angela Cretu, global chief executive of beauty giant Avon International, said that sterling’s dramatic fall has caused challenges for the group, [...]
All eyes in the City on UK gilt yields as Boris Johnson steps away and Rishi Sunak steps up October 24, 2022 Despite all the turmoil around UK politics last week, the pound ended up finishing the week higher for the third week in a row against the US dollar, while gilt yields closed lower. It was set up to be another key week for the pound with the prospect of another Conservative party leadership contest however [...]
