Morgan Stanley beats expectations as investment banking income climbs July 15, 2021 US bank Morgan Stanley smashed analysts’ expectations for second quarter earnings and revenue, driven by record levels of capital market activity boosting its investment banking business. Revenue at the banking giant came in at $14.8bn, much higher than the $13.98bn estimate. Earnings per share hit $1.85, topping analysts’ estimates of $1.65. Read more: JPMorgan profits [...]
Supermarkets urge shoppers to keep masks on after 19 July July 15, 2021 Supermarkets are urging customers to continue wearing masks even after 19 July, when they will no longer be a legal requirement in England. Prime Minister Boris Johnson has announced that from Monday 19 July, dubbed ‘Freedom Day’, almost all pandemic restrictions will be lifted including the legal requirement to wear masks. Instead the public will [...]
Dutch crime journalist Peter R de Vries dies following assassination attempt July 15, 2021 Dutch crime journalist Peter R de Vries has died after an assassination attempt in Amsterdam nine days ago, according to reports. The well-known investigative journalist was shot in Lange Leidsedwarsstraat, an Amsterdam street close to a public square minutes after he left a TV studio on 6 July. “Peter fought to the end but was [...]
Inflation to soar to four per cent, warns BoE deputy governor July 15, 2021 The deputy governor of the Bank of England has warned that inflation could soar as high as four per cent, double the Bank’s target. Sir Dave Ramsden said in a speech on Wednesday that he “wouldn’t be surprised to see the whole inflation rate potentially rising as high as four per cent for a period [...]
Sketch: A step-by-step guide to levelling up and making sourdough by Boris Johnson July 15, 2021 We’re levelling up trains, we’re levelling up roads, we’re levelling up shires and towns, counties and cities. We’re levelling up our internet, our schools, and our clean energy infrastructure, Boris Johnson told a crowd yesterday in an attempt to flesh out and actually explain the phrase which has plagued British politics possibly even more than [...]
Gold has had a bad month, but bullish activity could suggest a bottom July 15, 2021 The price of gold has dropped 5 per cent since the end of May. The majority of this decline can be attributed to an increase in interest rates following a recent US Federal Reserve Open Market Committee (FOMC) meeting). As inflation concerns grew, the Fed signalled a more “hawkish” direction with an expected hike in [...]
City suburbs, commuter towns and coastal locations record biggest jumps in rent July 15, 2021 City suburbs, commuter towns and coastal location have recorded the biggest rises in rent for tenants last year. Property portal Rightmove said that towns such as Rochdale, Folkestone and Farnham have seen asking rents jump by more than 25 per cent. Their survey showed that as Covid restrictions started to ease, there was a greater [...]
UK banks expect a rush of defaults in coming months July 15, 2021 UK banks expect defaults to rise over the coming months as households struggle to service debt taken on to cope with the financial pressures of the Covid crisis, new figures released today reveal. According to the Bank of England’s latest Credit Conditions Survey, banks expect default rates on unsecured lending – or credit card lending [...]
Ripple case with SEC rests on a knife-edge phone call July 15, 2021 The drawn-out courtroom battle between Ripple Labs and the Securities and Exchange Commission hinges on a phone call with the judge this afternoon.
Shakespeare on advertising: Greggs can bake in profits with well-targeted campaign July 15, 2021 Greggs recently announced that, following the easing of lockdown measures, its sales had recovered at a faster rate than many had anticipated. The bakery chain – regarded by some as a national treasure – expects annual profits to exceed previous forecasts. Data from YouGov BrandIndex UK shows that Greggs’ Current Customer scores have steadily improved [...]
