Financial services tribunal can boost competitiveness and help small businesses, experts argue July 30, 2023 A financial services tribunal could boost the City’s competitiveness by providing a body of consistent case law and a route for firms to seek justice, experts told City AM. Speaking to City A.M. Richard Samuel, barrister at 3 Hare Court Chambers, said “London’s common law dispute resolution system is a key part of what makes [...]
Oil prices rally due to revived hopes of Chinese demand amid Opec cuts July 30, 2023 Oil prices have recorded five straight weeks of gains with investors seemingly convinced markets will tighten.
Prime Minister Rishi Sunak to meet energy leaders ahead of new pledges July 30, 2023 Prime Minister Rishi Sunak and energy security secretary Grant Shapps will meet industry leaders from across the energy sector.
Interest rate boost slowing for banks as changing customer behaviour cuts margins July 30, 2023 The UK’s high street banks have warned that the boon from rising interest rates might be coming to an end as changing customer behaviour and an increasingly competitive mortgage market hits margins. Natwest, Barclays and Lloyds recorded bumper profits last week, but investors were dismayed by the more cautious outlook. Both Natwest and Barclays UK [...]
Marlboro boss defends cigarette giant’s diversification into health market July 30, 2023 The boss of cigarette company Philip Morris International, Jacek Olczak, has said he thinks he can “come up with an even better business”, as the Marlboro maker steams ahead with plans to amp up its selling of smoke-free products. “We need to do something. I think we can come up with an even better business,” [...]
Fresh kicks: Fund manger builds stake in ailing Dr Martens July 30, 2023 An activist fund manager has reportedly been building a stake in struggling bootmaker Dr Martens. Sparta Capital has bought stock worth “tens of millions of pounds” in the London-listed footwear brand, according to reports by Sky News. It is said that Sparta is also engaging in talks with the board to help the brand as [...]
Apple set for a sales dip – but will that hurt its record-high share price? July 30, 2023 Analysts predict that Apple will report a dip in sales on Thursday, but are unsure if this will stop its record-breaking share price surge. It is anticipated the tech giant will report a two per cent year-on-year dip in sales down to $81.7bn (£63.5bn) this third quarter, as consumers cut back or hold of on [...]
Debanking: Number of account closures since 2016 skyrockets as banks take tough line on financial crime July 30, 2023 The number of bank accounts being closed climbed to nearly 350,000 last year as banks adopted an increasingly vigilant stance towards their customers. According to data from a freedom of information request submitted by the Daily Mail to the Financial Conduct Authority (FCA), the number of accounts being closed has increased from under 50,000 in [...]
Animoca Brands ploughs $30 million into NFT app ‘hi’ July 30, 2023 Web3 financial app 'hi' is to receive a huge investment from metaverse and gaming specialist Animoca Brands.
Stuart Broad: England fast bowler announces retirement at end of the Ashes July 29, 2023 England bowler Stuart Broad will retire from Test cricket following the Ashes. The 37-year-old made the announcement at stumps on day three of the final Test against Australia at the Kia Oval. Broad has taken 602 wickets in 167 Tests, making him the second most successful paceman in Test history behind team-mate James Anderson. “Tomorrow [...]
