US inflation surge ‘nails on’ another Fed rate hike bazooka July 13, 2022 Prices are rising at the fastest pace in nearly 41 years in America, nailing on another huge rate rise by the US Federal Reserve larter this month. US inflation climbed to 9.1 per cent last month, smashing Wall Street’s expectations and up from an already historic level of 8.6 per cent, according to data published [...]
Economic green shoots to coax Bank of England into steepest rate rise since independence July 13, 2022 Signs of green shoots in the UK economy will encourage the Bank of England to launch the steepest interest rate hike since it was made independent 25 years ago. Stronger than expected growth in May suggests the economy can absorb higher interest rates without falling into recession, known as a “soft-landing,” according to City analysts. [...]
Ex-Nationwide chairman emerges as leading contender for Bank of England watchdog role July 13, 2022 Former Nationwide chairman David Roberts has emerged as the frontrunner to lead the Bank of England's oversight board, reports Sky News.
FSB to put forward a global regulatory framework for crypto in October July 12, 2022 The Financial Stability Board will propose global crypto regulations in October following the recent crypto crash. The global watchdog said it is working towards ensuring that crypto is subject to tight oversight and will “submit a public consultation report that proposes recommendations for promoting international consistency of regulatory and supervisory approaches to crypto-assets and crypto-asset [...]
BoE lays down crypto regulation plans following crash July 12, 2022 The Bank of England laid down its plans for crypto regulation in the UK following the drastic instability from the “crypto winter.” Deputy Governor Jon Cunliffe said the Bank would apply identical regulation to different financial services in the UK, regardless of how they are provided, if the risks presented by them are the same. [...]
New Chancellor Nadhim Zahawi in spat with Bank of England’s Andrew Bailey: ‘I’m just setting out my stall as prime minister!’ July 12, 2022 Chancellor Nadhim Zahawi insisted this morning it was appropriate for him to set out tax proposals during his Tory leadership race after criticism from Bank of England Governor Andrew Bailey. He told BBC Breakfast this a.m.: “I’m just setting out my stall as prime minister! And I have fully costed these pledges, and I’ll be [...]
Markets have bigger things to worry about than a change in Number 10 July 12, 2022 Markets tend to be one step ahead of everyone else. Investors are always trying to identify new risks and limit their exposure to events that hurt stock markets. That forward-looking ethos probably explains why they ignored the upheaval in Number 10 last week. Boris Johnson’s position has looked wobbly for a while. Investors priced in [...]
Rail union bosses who called for biggest train strike in 25 years take home £280,000 in pay and perks July 12, 2022 With the transport unions having voted on the ‘biggest rail strike in 25 years’, it has been revealed that two Aslef trade union bosses had a combined total remuneration of £281,601 in 2021. Aslef’s general secretary, Mick Whelan, took home £151,371 in total remuneration in 2021. While Aslef’s Assistant General Secretary, Simon Weller, received £130,230 in the same year, the TaxPayers’ Alliance said [...]
Doceo’s Weekly 360 – the week’s news and views in the words of the companies and the professionals July 11, 2022 A unique mandate Fourth Annual Report from fintech investor Augmentum Fintech (AUGM). Chairman Neil England wrote: “The Company’s portfolio of investments has again performed very well with an increase in Net Asset Value (NAV) per share after performance fee of 19.0%. However, the share price and total shareholder return do not reflect the strong performance [...]
Week ahead: City eyes new economy figures and Bank governor Bailey comments July 10, 2022 The City will turn its gaze to fresh GDP figures published this week for signs that the UK is already in the teeth of a recession in a busy week of data announcements. London’s premier FTSE 100 index shook off the turmoil in Downing Street to climb 0.38 per cent and finish the week at [...]