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.
Regulator set to postpone UK bank capital reforms until at least January 2026 August 29, 2024 The UK’s main banking regulator is reportedly planning to delay the latest series of bank capital reforms as it monitors how the rules are developing in the US. The Bank of England’s Prudential Regulation Authority (PRA) is set to delay its entire Basel 3.1 package until at least January 2026, with an official announcement expected in the [...]
London hotel occupancy rates return to pre-Covid levels but services inflation fears fueled August 29, 2024 London hotels enjoyed another strong month in July as occupancy rates finally ticked back up to peak occupancy levels seen in summer 2019, but it’s not all rosy for the industry. London occupancy reached 89.3 per cent, up on 84.6 per cent last year and back to peak occupancy levels seen in July 2019. Despite [...]
Close Brothers shares jump as RBC sees ‘a number of potential catalysts’ August 29, 2024 Shares in Close Brothers jumped on Thursday after RBC upgraded its recommendation on the lender's stock, which has been dragged down by its exposure to a City watchdog review into unfair car loans.
FTSE 100: Natwest, Barclays and Lloyds shares drop on fears of Labour tax raid August 28, 2024 Shares in the UK's largest banks dropped on Wednesday amid concerns that the new Labour government could raise taxes on the sector in October's Budget.
Europcar: Airport passengers help UK sales pass milestone August 28, 2024 An increase in people hiring cars at airports helped revenue at the UK arm of Europcar surpass £400m during its latest financial year. The Leicester-headquartered division has reported a revenue of £403.8m for 2023, up from the £363.5m it posted for 2022. Newly-filed accounts with Companies House also show that its pre-tax profit jumped from [...]
Pound sterling reaches two-year high against the dollar as interest rate bets diverge August 27, 2024 The pound was trading just under 0.2 per cent higher against the dollar at $1.322 having traded just below $1.3250 earlier in the day.
Shop prices in deflation for first time in almost three years August 27, 2024 The overall index was pulled down by non-food prices, which fell further into deflation in August.
Jackson Hole highlights: Powell’s cutting rates, Bailey’s lifting weights August 26, 2024 Central bankers from all over the world descended on the small Wyoming town of Jackson Hole last week for a session of ruminating, speculating and pontificating. Here are the four main takeaways from the annual central banking shindig.