Soaring inflation forces Brits to tighten belts on groceries as summer clothes, DIY and fuel sales pick up June 23, 2023 Brits are still splashing the cash amid soaring inflation, with retail sales estimated to have increased by 0.3 per cent last month off the back of non-food splurging. The main driver of sales was online, with non-store selling volumes up by 2.3 per cent, while food store sales were down by half of one per [...]
It was do or die for Andrew Bailey and the Bank of England – in the end, there was no choice June 23, 2023 When it came down to it, there was no choice. Inflation stuck at just below nine per cent. Unforgiving buried price pressures. Businesses rebuilding profits. Workers with no choice but to demand more money. These are the characteristics of an economy stuck in stagflation. The Bank of England had to take drastic measures. Yesterday’s interest [...]
Doling out more debt to developing countries won’t help without giving them a global voice June 23, 2023 Can we stop burying countries at risk of climate change in more debt?
The Isle of Man and the City of London are linked by a shared financial future June 23, 2023 It might look like the Isle of Man and the City of London have nothing in common, but mutual financial cooperation is actually the way forward so that the whole country can benefit, writes Michael Crowe
LME compliance chief called FCA nickel queries ‘ridiculous’ June 22, 2023 The London Metal Exchange's head of compliance described questions from the UK's markets regulator about nickel prices as "ridiculous."
US mid-tier banks set to face tighter capital requirements following SVB collapse June 22, 2023 Mid-tier banks in the US are set to face tighter capital rules as regulators respond to the near collapse of the regional banking system earlier this year. Chair of the Federal Deposit Insurance Commission (FDIC) Martin Grueberg said regulators will seek public comment on “changes to the US capital framework”. The proposals will come as [...]
St Paul’s revamp to create new public square June 22, 2023 St Paul’s gyratory is set to undergo a redesign as part of a drive to create bigger and better public spaces in London. The City of London Corporation has approved project proposals to “partially remove” the gyratory, built in the 1970s, and create the largest public square in the Square Mile. The area between the [...]
Boohoo drafts in former THG chief as it steams ahead with Revolution coup June 22, 2023 Boohoo has drafted in the former head of cosmetics from THG as it doubles down on its attempted boardroom coup at Revolution Beauty. Tensions between the fast fashion giant and troubled makeup brand have been brewing for the past week, after Boohoo, which holds a 26.6 per cent stake in Revolution, said it would vote [...]
20,000 rail workers to strike in July in fresh RMT industrial action June 22, 2023 20,000 rail workers will strike on three days in July, the RMT Union announced today, in a continuation of a long-running pay dispute. RMT members at 14 train companies will take action on 20, 22 and 29 July, dates which coincide with two Ashes tests and the golf Open, after train operators failed to make [...]
There may be mortgage pain, but these bankers say rates hikes could boost the City June 22, 2023 Numis says the higher cost of capital could scupper private equity takeovers and boost the IPO market
