Week ahead: Bank of England to rock markets with 75bps rate hike October 30, 2022 Markets are preparing for a steep rate hike by the Bank of England on Thursday, but not as bad as first feared after former prime minister Liz Truss’s tax cutting mini-budget last month. London’s premier FTSE 100 index posted a decent performance last week, adding 1.12 per cent to close at 7,047.67 points, while the [...]
Bulb deal signals energy sector shift as Octopus boosts customer base October 30, 2022 Octopus has wrapped up a deal for Bulb. Here, City A.M. recounts the bidding war and what it means for the energy sector.
‘You need to try harder’: Sunak confronted by patient over nurses’ pay October 28, 2022 Rishi Sunak has been called out over nurses’ pay during a visit to a south London hospital this afternoon. In a visit to Croydon Hospital, the prime minister was confronted by 77-year-old Catherine Poole, a patient, who said it was a “pity you don’t pay them more” in reference to the surrounding nurses. Sunak replied [...]
Government debt continues to balloon as Rishi Sunak promises stability October 28, 2022 Government debt ballooned in the second quarter of this year, making up 101.9 per cent of gross domestic product (GDP). New figures released by the ONS show that gross debt was £2,436.7bn between April and June in the UK. At 101.9 per cent of GDP, this puts the UK 15.5 percentage points above the EU [...]
It’s been a news rollercoaster, yet the crypto tracks have kept a straight course October 28, 2022 Jason Deane runs the rule over a week that has seen an avalanche of news narratives have very little impact on the price of Bitcoin.
Ex Chancellor Hammond criticises Sunak for sluggishness on Crypto October 28, 2022 Former Tory Chancellor Lord Philip Hammond has criticised Rishi Sunak for sluggishness on Crypto regulation. Theresa May’s money man hit out at Boris Johnson’s former chancellor calling on him to turn Britain in to a world leader in Crypto. Speaking to FN, he said he was a “little disappointed” the UK was so “far behind” [...]
Shell backlash shows no profit is safe in windfall tax-crazed Britain October 27, 2022 Another windfall tax after Shell profits? Britain is at risk of becoming uninvestable Pity the folks in Shell’s communications department, who must be tempted to wear bullet-proof armour whenever they send out a trading update. Yesterday’s numbers were impressive, as you’d expect when energy prices are inflated. They also avoided paying any of Rishi Sunak’s [...]
Government eyes bank surcharge U-turn despite Lloyds profits tumbling October 27, 2022 Britain’s biggest mortgage lender, Lloyds Bank, has set aside hundreds of millions of pounds in preparation for a surge in loan defaults caused by the rising cost of living and higher interest rates squeezing household budgets. The lender today said it had banked £668m over the three months to September to absorb souring loans, primarily [...]
Exclusive: Seven Dials Market boss says ‘Brexit means we are short-staffed for every shift, every day’ October 27, 2022 Brexit has “absolutely screwed” the food industry after it “ripped away” its labour source, according to the boss behind the West End’s popular Seven Dials Market. Businesses at the food and drink destination are facing staff shortages “for every single shift, every single day,” Simon Mitchell, who heads the street food market operator Kerb, exclusively [...]
Rishi Sunak’s ‘City chic’ style is bringing back the suit October 27, 2022 Rishi Sunak represents many firsts: he is the first prime minister of South Asian origin, the first to hold an MBA, and the first, perhaps, to be wealthier than the sovereign who invited him to form a government. But he is also unusual for a male prime minister in being acutely conscious of style and [...]