Bank of England ramps up CBDC ambitions after offering £200,000 wallet contract to bidders December 12, 2022 The Bank of England has underlined its desire to pursue a CBDC by putting a contract for a sample wallet out to tender.
Leonardslee House is the UK hotel producing South African wine December 12, 2022 THE WEEKEND: Wanting to rusticate in luxurious splendour, we paid a visit to the newly launched accommodation at Leonardslee House. Owner Penny Streeter OBE has brought back a hefty slice of South Africa to rural England and filled the Grade I listed grounds with things to do and art to gawp at for all ages [...]
UK economic bounce back a false dawn as recession still looms December 12, 2022 The UK economy is bouncing back, latest figures show, but economists still expect the country to tip into a record long recession. Gross domestic product (GDP) climbed 0.5 per cent in October, swinging back from a contraction over the summer, the Office for National Statistics (ONS) said today. The figures beat the City’s expectations. London’s [...]
UK factories on course to sink into recession next year December 12, 2022 UK factories are on course to sink into recession next year driven by the wider economic slowdown and swelling costs cooling activity, a new survey out today shows. Manufacturing output will shrink 3.2 per cent in 2023, according to Make UK and BDO. The pair have been consistently slashing their forecasts for industrial output throughout [...]
City minister says ‘world’s moved on’ from post-2008 financial services reforms December 11, 2022 City minister Andrew Griffith has said “the world’s moved on” since the 2008 global financial crisis in an attempt to calm concerns about the easing of the UK’s bank ring-fencing regime. Griffith told City A.M. that the regulation, which will be relaxed as a part of newly announced post-Brexit reforms, was acting as “an impediment” on some [...]
City braces for final economic figures before Christmas break December 11, 2022 The City is bracing for a string of big economic announcements in what will be the final busy week of news before the Christmas break. Tomorrow, fresh gross domestic product (GDP) figures from the Office for National Statistics (ONS) are expected to show the UK economy recovered in October. But, the 0.4 per cent growth [...]
‘Carried away’: Kwasi Kwarteng admits Truss government ‘blew it’ over mini-budget December 10, 2022 Former Chancellor Kwasi Kwarteng has admitted that Liz Truss’s government “blew it” when it came to the economic reforms proposed in the mini-budget. “People got carried away, myself included,” he told the Financial Times. “There was a brief moment and the people in charge, myself included, blew it.” Kwarteng was ousted from government after he [...]
What’s that coming over the hill? Is it regulation? December 9, 2022 IDnow's Jason Tucker-Feltham believes the FTX collapse has invited the inevitable, but urges crypto companies to embrace regulation.
Regime shift: investing into the new era December 9, 2022 As this economic cycle ends, we shouldn’t expect to see the patterns of the past decade repeated. A new regime in policy and market behaviour is unfolding which investors need to understand if they are to find the best opportunities and safeguard their portfolios. The re-opening of economies after Covid sparked a phenomenon investors have [...]
FTSE 100 dogged by investors souring on Ashley’s Frasers Group December 8, 2022 London’s FTSE 100 was dogged down today by retail tycoon Mike Ashley’s Frasers Group sinking to the bottom of the index. The collection of the capital’s top companies dropped 0.23 per cent to 7,472.17 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.56 [...]