Beneath the hysteria, there is a real opportunity for a growing British economy October 11, 2022 Britain could be at the brink of a massive turnaround, but you wouldn’t know it if you were to pick up most newspapers. As all corners decry a brewing crisis, there are also generational opportunities we’ve missed in the eye of the furore. The bulk of Liz Truss’ package is almost undebatable – capping energy [...]
London’s FTSE 100 dragged down by industrial giants as pound weakens against US dollar October 10, 2022 London’s FTSE 100 dipped today driven lower by investors ditching industrial giants on concerns over a slowdown in commodity demand amid a global economic slowdown. The capital’s premier index dropped 0.45 per cent to close below the 7,000 mark, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Bank of England doubles daily bond purchase cap, but borrowing costs surge October 10, 2022 The Bank of England has rolled out a raft of measures to help shore up the UK gilt market this morning as it looks to stave off a return to turmoil when it halts its bond-buying programme on Friday.
LendInvest warns of mortgage volatility as it ‘tightens credit appetite’ October 10, 2022 Mortgage fintech LendInvest said it was tightening its “credit appetite” today as it grapples with the volatility that has shaken the market in the wake of the government's so-called mini-budget.
Truss U-turns on her choice of new top Treasury official October 10, 2022 Liz Truss has reportedly U-turned on her choice for the new top Treasury official and will install the former top Number 10 civil servant under David Cameron. Truss and chancellor Kwasi Kwarteng were set to appoint Antonia Romeo – permanent secretary at the Ministry of Justice and someone considered an outsider to the “Treasury orthodoxy”. [...]
OBR financial report and government fiscal plan to be delivered on 31 October October 10, 2022 The UK’s spending and borrowing watchdog’s assessment of the government’s tax cutting splurge will be released on 31 October, chancellor Kwasi Kwarteng announced today. In a letter to Tory MP and chair of the treasury select committee, Mel Stride, Kwarteng said he has decided to bring the Office for Budget Responsibility’s (OBR) forecasts forward from [...]
Trust the code, not the confused October 7, 2022 Rufus Round, CEO of GlobalBlock says political systems need to adapt to the crypto and digital assets technology heading their way.
UK jobs market finally flashes cool down signals as hiring slows October 7, 2022 The UK jobs market is finally flashing slowdown signals after running hot for months after the worst of the Covid-19 crisis, a closely watched survey published today reveals. Firms are moderating hiring campaigns in response to concerns over the UK’s weakening economy and a shortage of workers. Britain is on course for a recession as [...]
Analysis: Bank of England averts market spiral, but pressure remains October 6, 2022 Hat tip to Mel Stride, Tory MP and chief of the treasury committee, for asking the Bank of England to explain why they launched an emergency support package for the UK debt market last week. If he hadn’t, we wouldn’t know there was a “self-reinforcing spiral” – how deputy governor at the Bank Jon Cunliffe [...]
Mini budget market turmoil partly triggered BoE emergency intervention, dep governor says October 6, 2022 Market volatility that followed chancellor Kwasi Kwarteng’s mini budget last month partly forced the Bank of England to step in to stabilise UK debt prices and prevent a crisis in the pensions sector, one of its top officials said today. After Kwarteng slashed taxes by £45bn and signalled a borrowing surge on Friday 23 September, [...]