Pound’s rally fades ahead of crucial US jobs data September 3, 2024 The pound’s stunning rally has stalled as traders look for direction amid a quiet week in the data calendar for the UK. Sterling was trading 0.2 per cent lower against the dollar at around $1.311 having lost over one per cent against the greenback in the past five days. The dollar has been trading around [...]
BBVA secures UK approval to acquire TSB Bank in hostile takeover bid September 3, 2024 The UK's main banking regulator has given BBVA permission to take indirect control of TSB Bank, as the lender's Spanish parent Sabadell fends off its hostile takeover attempt.
How to pick the best UK small companies to invest in September 3, 2024 When it comes to investing in the stock market, we all know the UK is cheap. But smaller companies are even cheaper.
UK’s banking regulator ‘extremely mindful’ of US on capital rules overhaul September 3, 2024 The UK’s banking regulator is “extremely mindful” of pushing ahead with a sweeping set of capital rule changes while the US’s reform package remains up in the air, its chief executive has said. Sam Woods, the deputy governor of the Bank of England and boss of the Prudential Regulation Authority, told the Following the Rules [...]
The best and worst performing funds in August 2024 September 2, 2024 Funds focusing on North American smaller companies were the worst performing in the UK last month, as a weakening dollar and fears over a US recession shook the market. North American Smaller Companies funds fell by 3.3 per cent in August, followed by funds focusing on China (-2.9 per cent), commodities (-2.3 per cent) and [...]
Pound set to continue surge against dollar as interest rate cuts slow September 2, 2024 The pound is set to be one of the world's top-performing major currencies this year, according to Bank of America, amid expectations of “above trend growth” in the UK economy and slower interest rate cuts,
Mortgage borrowing hits highest level in nearly two years August 30, 2024 The amount of mortgage debt Brits took on in July reached its highest level since November 2022 in another sign that consumer confidence is returning. Brits borrowed £2.8bn of mortgage debt in July, the highest since £.2bn in November 2022 and up from £2.6bn in June, according to the latest Money and Credit data from [...]
House prices dip unexpectedly as interest rates continue to dampen demand August 30, 2024 House prices dipped unexpectedly for the first time since April this month, but a closely watched survey today suggests that the outlook for the property market is likely to strengthen as interest rates are reined in. In its closely watched house price index today, mortgage lender Nationwide said British house prices slipped by 0.2 per [...]
UK business confidence steady at almost nine-year high in August August 30, 2024 UK business confidence remained at an almost nine-year high in August, a closely-watched survey has suggested, in a positive sign for the country's economic prospects.
How much could a UK bank windfall tax raise? August 29, 2024 The banking sector is considered an easy target for an energy-style windfall tax, with lenders enjoying record profits on the back of interest rate hikes from the Bank of England last year.