Huw Pill’s “let them eat cake” moment could get its just desserts with a slice of Bitcoin April 28, 2023 Jason Deane rounds up the week with a doff of the cap to Marie-Antoinette for a comparison with the Bank of England's Huw Pill.
Natwest profits soar but customers withdraw £1bn as cost of living and tax bills bite April 28, 2023 Natwest has beaten profit expectations during the first three months of this year. Natwest Group, which includes Royal Bank of Scotland and Ulster Bank, recorded a pretax profit of £1.8bn in the three months ending 31 March. The total comes in ahead of analysts’ expectations of £1.6bn for the quarter and ahead of the £1.2bn during [...]
UK to avoid recession but inflation won’t return to Bank of England target until end of next year April 28, 2023 Britain is poised to dodge a recession this year, but inflation will not return to the Bank of England’s two per cent target until the end of next year, new forecasts out last night revealed. The fresh projections from consultancy PwC add to the growing body of organisations who have canned their prediction that the [...]
IN PICTURES: Flags, robes and specialist merch – how Londoners are preparing for the Coronation Weekend April 28, 2023 London retail is set for a big boost from the coronation, according to figures released today by the New West End Company. The company, which represents 600 retail and hospitality businesses in the West End, forecasts that sales over the Coronation Weekend will hit £50m. Total footfall is predicted to reach 1.75m, 24 per cent [...]
Sunak’s challenge is to design flexible but firm rules for artificial intelligence April 28, 2023 ChatGPT has thrown artificial intelligence into the mainstream, and now it's Rishi Sunak's job to design rules which don't prevent its growth, but keep us safe.
Over 50s and retirees want to work more, so long as it’s flexible April 28, 2023 A lack of flexible job opportunities is keeping over 50s out of the workforce and preventing retirees from returning to employment according to a survey. Insurance giant Zurich UK found nearly one in five UK adults over 50 were deterred from applying for new jobs because of a lack of flexible working opportunities. Timewise found [...]
FTSE 100 close: Barclays surge fails to prevent losses on London index April 27, 2023 London’s FTSE 100 slipped today, pushed lower by investors wobbling over concerns about the health of the global economy amid banking and interest rate fears. The capital’s premier index dropped 0.27 per cent to 7,831.59 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed [...]
Barclays shares rise as booming US credit cards and higher interest rates helps bank beat expectations April 27, 2023 Barclays shares rose after it beat expectations in its first quarter results, as pretax profit rose 16 per cent on a strong performance from its domestic bank and booming US credit card spending. Across the group, Barclays’ pretax profit was £2.6bn, up 16 per cent from last year and comfortably beating company compiled consensus of [...]
FTSE 100 close: Persimmon and Standard Chartered peg losses on London index April 26, 2023 London’s FTSE 100 skidded lower today despite a decent batch of results pumping up banks and house builders. The capital’s premier index lost 0.49 per cent to close at 7,852.63 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged 0.04 per cent lower to [...]
Bank of England interest rate hikes would squeeze Jeremy Hunt’s room for tax cuts by £8bn, City economist claims April 26, 2023 The Bank of England could squeeze Chancellor Jeremy Hunt’s room to cut taxes in the run up to the next general election if it keeps hiking interest rates to tame inflation, a City economist has calculated. Officials at Threadneedle Street would swell Britain’s debt interest bill by around £8bn if they send borrowing costs to [...]