Energy sector shows early support for Ofgem’s new financing rules July 27, 2023 The energy industry has shown initial signs of supporting Ofgem's announced capital adequacy reforms, following the collapse of 30 suppliers.
Mark Kleinman: Natwest’s future, Ovo Energy and Hargreaves Lansdown’s search for a successor July 27, 2023 Mark Kleinman is City editor at Sky News What next for Natwest? Somebody with a tighter grip at the top, and that’s just the start Banking with the human touch: that’s how Coutts, the high net worth bank owned by Natwest Group, likes to position itself. Like so many corporate slogans, however, it often bears [...]
City workers pocket above average 13 per cent pay rise as financial services jobs tumble July 27, 2023 City workers pocketed an average 13 per cent pay increase when switching jobs over the last quarter, a rise that is above the national average, new research out today shows. Salary increases handed down to new starters at the Square Mile’s banks, brokers and insurers have ebbed over the last year as activity in the [...]
Cut the crap: City firms under pressure to strip out shareholder legalese July 27, 2023 Top City firms must ditch impenetrable legalese and dense corporate-speak in their shareholder missives or amateur investors will remain shut out of the market, experts have warned.
Bankenheimer: Number of banks shunning nuclear weapons jumps 10 per cent July 27, 2023 As Christopher Nolan’s epic about Oppenheimer, Godfather of the atomic bomb, hits cinema screens, new research shows banks globally are pulling back from funding nuclear weapons. According to a new report from Don’t Bank on the Bomb, 109 financial firms worldwide have published policies restricting investment in nuclear weapon producers. This was roughly 10 per [...]
British car production rebounds thanks to record electric vehicle boost July 27, 2023 UK car production jumped 11.7 per cent in the first six months of the year, industry figures show, marking a major rebound from the pandemic-induced lows of 2022. According to the Society of Motor Manufacturers and Traders (SMMT), 450,168 units were made in the six months from January, with June the fifth consecutive month of [...]
Bank of England monetary bosses should have their pay tied to inflation targets July 27, 2023 If the Bank of England want workers to accept reductions in their real income, the bosses on the monetary policy committee should too, writes David Bholat.
From creche to healthcare, companies have renewed a social contract to staff July 27, 2023 Companies should start considering their responsibility to provide good quality healthcare for their staff, whether that's supporting them with mental health, on-site creches or eldercare, writes Eliza Filby
Let’s be honest, banks like Coutts should be able to choose their customers July 27, 2023 Natwest’s handling of the Farage affair has been an unmitigated public relations disaster. They have turned a much-disliked public figure into a sympathetic victim of procedural mistreatment.
Federal Reserve sends US interest rates to 22 year high in possible final hike July 26, 2023 The US Federal Reserve today launched what many on Wall Street think will be the final interest rate hike in its current tightening cycle. Members of the federal open market committee (FOMC) backed a 25 basis point increase to leave the federal funds rate at a range of 5.25 per cent and 5.5 per cent. [...]
