IMF “monitoring developments” in UK after currency fall and mini-budget September 27, 2022 The International Monetary Fund gave Kwasi Kwarteng and Liz Truss a slap on the wrist this evening, with a spokesman saying it did not “recommend large and untargeted fiscal packages” amid inflation concerns. The warning from the IMF comes after another day of currency fluctuations, triggered by a so-called ‘mini budget’ of tax cuts announced [...]
Kwarteng tells City bosses that ‘we are committed to fiscal discipline’ September 27, 2022 Kwasi Kwarteng has told a group of City bosses today that the government is committed to “fiscal discipline” as the chancellor tries to calm markets and reassure the Square Mile. Kwarteng told them that “we are confident in our long-term strategy to drive economic growth through tax cuts and supply side reform”, and that he [...]
City Moves: Who’s switching jobs in the Square Mile? September 7, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Lombard Odier Investment Managers Lombard Odier Investment Managers has built out its UK wholesale team with a fresh sales director. George Guest, who stepped into the London-based role at the end August, will be responsible for promoting [...]
What are the best FTSE 100 dividend stocks for September 2022? August 30, 2022 In this new inflationary reality, the best FTSE 100 dividend stocks are not just those which are highest yielding, but also those which are most likely to continue to pay their dividends through what could become a severe recession. The FTSE 100 is by its nature defensive, down a mere 1% year-to-date. But with the downturn almost [...]
Woman wins tribunal against Swiss Re over executive’s sexist comments August 25, 2022 A former underwriter at Swiss Re has won an employment tribunal against the world’s biggest reinsurance company, after a senior executive at the firm told her: “If I had breast like yours, I would be demanding too.” Julia Sommer, a political risk underwriter at the Swiss insurer, is now set to receive a payout, after [...]
Ex-dividend shares tame FTSE gains as UK bond yields hit fresh 14-year high August 18, 2022 Traders ditching companies that have yet to announce the details of their next shareholder giveaway tamed London markets’ gains today. The capital’s premier FTSE 100 index jumped 0.35 per cent to 7,541.85 points, while the domestically-focused mid-cap FTSE 250, which is more aligned with the health of the UK economy, climbed 0.55 per cent higher [...]
Joules names former Compare the Market CEO Jonathon Brown as new chief August 15, 2022 British lifestyle brand Joules has announced former Compare the Market chief Jonathon Brown as the group's new CEO.
US inflation under shoot boosts London’s FTSE 100 and Wall Street August 10, 2022 City traders today were boosted by signs of inflation cooling in the world’s biggest economy sparking a rally on Wall Street. London’s premier FTSE 100 index climbed 0.25 per cent to 7,507.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged nearly two per [...]
Aviva hikes dividend and assures £400m takeover nearly over August 10, 2022 Insurance giant Aviva has sought to soothe investor concerns today, confirming that the nearly £400m takeover of Succession Wealth will be completed later this year. The deal is expected to be wrap up in the second half. While its interim dividend for this year has jumped 40 per cent to 10.3p per share – up [...]
Aviva looks to settle investor nerves after share price slide August 8, 2022 Aviva shareholders are braced to see whether the insurance giant can regain some momentum this week after its share price has stalled in recent months to trade no higher than 30 years ago.