Ofgem orders Tru Energy to improve handling of direct debits July 30, 2022 TruEnergy has been slapped with a provisional order, compelling the supplier to take action so that its direct debit policy is fit for purpose.
Headspace: Why imposter syndrome grips even the high-flying July 30, 2022 Each month City A.M.’s mental health columnist Alejandra Sarmiento writes about the Square Mile’s often-taboo subjects – and how you can deal with them Franz Kafka is best known today as one of the most influential writers of the 20th-century. The author of masterpieces such as “The Metamorphosis” and “The Trial,” Kafka was, in fact, [...]
‘The Great Resignation could be followed by a Great Redundancy,’ DWF chief says July 29, 2022 A downturn in the legal market could see widespread layoffs in the City’s top-ranking law firms, the head of London listed law firm DWF told City A.M. The lawyers that jumped ship in “big numbers” in pursuit of six-figure salaries in London’s most prestigious firms could soon be laid off, as the top firms make [...]
Eurozone inflation surges to fresh record high dialling up pressure on ECB July 29, 2022 Prices are rising are the fastest pace on record in the eurozone, figures published today revealed. Inflation surged to 8.9 per cent, up from 8.6 per cent in June, the highest rate since the creation of the euro in 1999. The fresh figures dial up pressure on the European Central Bank (ECB) to hoist interest [...]
Glencore lowers copper production guidance due to problems at Congo mine July 29, 2022 Commodities trader Glencore today said it is set to produce less copper this year than previously forecast due to technical issues at its Katanga mine in the Congo. The Anglo-Swiss multinational lowered its copper production guidance figures by 4.5 per cent, from 1,110 kt to 1,060 kt due to the ongoing geotechnical constraints related to [...]
NatWest shock profits lift London’s FTSE 100 July 29, 2022 London markets were boosted by investors piling into NatWest after it announced it will hand back £2.1bn to investors. The capital’s premier FTSE 100 index climbed 0.39 per cent to 7,374.25 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.32 per cent to [...]
The week in review July 29, 2022 Bitcoin had a sudden surge yesterday breaching $23,000 for the first time and even (briefly) spiking to beyond $24,000 at one point early this morning. So what’s going on and is it likely to stay there?
Standard Chartered announces fresh £410m share buyback programme on profit surge July 29, 2022 Asia-focused British bank Standard Chartered today announced a fresh $500m (£410m) share buyback programme. Higher interest rates boosted the lender’s bottom line, with pre-profits climbing eight per cent to $2.77bn (£2.3bn) in the six months to June. In the second quarter alone, profits surged 12 per cent to $1.3bn (£1.1bn), above analysts’ expectations, sending its [...]
Record profits put energy firms in Westminster crosshairs once again July 29, 2022 Energy giants triggered a fierce backlash yesterday after unveiling massive profits powered by soaring oil and gas prices.
French asset manager Amundi takes hit from turbulent European markets July 29, 2022 French asset manager Amundi today said the value of the assets it manages has dropped by 4.75 per cent compared to three months ago, due to “unfavourable” market conditions. The Paris headquartered firm said net incomes for the first half of the year were 16 per cent lower than a year ago, as it said [...]
