New Conservative Party leader to be crowned November 2, 2024 Kemi Badenoch or Robert Jenrick will be crowned as the new Conservative Party leader on Saturday, as the four-month-long race to replace Rishi Sunak reaches the finish line. The result of the leadership ballot is expected to be announced late in the morning, with the members’ ballot having closed on Thursday. The winner will be [...]
Don’t be fooled – Britain’s entrepreneurs are here to stay November 2, 2024 The run-up to this week’s highly-anticipated Budget was filled to the brim with an overwhelming amount of uncertainty. But what's really next for Britain's entrepreneurs?
City AM Budget Breakdown: How Rachel Reeves’ decisions will impact business November 1, 2024 In partnership with Camarco, City AM unpicked the key policies of Rachel Reeves' first budget and how they will impact business.
US reports worst jobs growth since December 2020 November 1, 2024 The US has reported its worst jobs growth since December 2020, as only 12,000 new jobs were added to the economy during September. This was significantly below the 113,000 forecast by analysts, leaving economists describing the numbers as “weak”. However, unemployment held steady at 4.1 per cent, while average hourly earnings rose 0.4 per cent [...]
Reeves’ Budget borrowing plans ‘threaten UK stability’ November 1, 2024 UK Chancellor Rachel Reeves’ Autumn Budget plan to rewrite fiscal rules and borrow more could jeopardise the stability of the country’s public finances, warned ratings agency Moody’s on Friday. In its first assessment of the Labour government’s Budget, Moody’s said that Reeves’ approach leaves little flexibility to manage economic shocks without breaching her newly introduced [...]
Wirecard critics shut down hedge fund November 1, 2024 A hedge fund run by the analysts that spotted potential fraud at German payments firm Wirecard years before its collapse have closed their fund due to its small size, City AM can reveal. Neil Campling and Toby Clothier, founders and managers of the Chameleon Global Master fund, have returned cash to investors and closed the [...]
Barclays completes £600m Tesco Bank takeover November 1, 2024 Barclays has completed its £600m takeover of Tesco’s banking arm after high court approval for the buyout came on 17 October. As part of a ten-year partnership between the two firms, Barclays will begin operating and managing Tesco Bank. Tesco will keep all of its existing insurance and money services activities, including ATMs, travel money [...]
Amazon shares soar as it shatters Wall Street forecasts November 1, 2024 Amazon’s shares jumped over six per cent in after-hours trading after the e-commerce giant breezed past third quarter expectations. The boost from investors would lift the Seattle-headquartered company’s market cap, which currently stands at $1.95t, beyond the $2t mark. It posted quarterly revenue of $158.9bn (£123.3bn), beating analyst predictions of $157.2bn (£121.9bn), and a year [...]
Boohoo calls in Debenhams chief in snub to Mike Ashley November 1, 2024 Boohoo has appointed a former JD Sports executive as its new boss today in what will be seen as a snub to Sports Direct tycoon Mike Ashley. In a statement to the market, the troubled fast-fashion firm said Dan Finley, who currently runs its Debenhams division and previously spent a decade at JD Sports, would [...]
Secure Trust Bank slashes profit expectations amid motor finance ruling November 1, 2024 Secure Trust Bank has slashed profit expectations for this year due to the performance of its motor finance business. In a trading update today, the London-listed lender said that following the Financial Conduct Authority’s motor finance decision, it restored vehicle finance loan collections activity to normal levels. Meanwhile, early arrears in vehicle finance are at [...]
