Are we heading for a global recession? June 29, 2022 Keith Wade, Chief Economist, discusses what central bankers’ next move might be, what markets are pricing in and what the probability of a recession is. People are worrying about a global recession and with good reason. But what if the factors driving rising prices are beyond the limits of policymakers’ control? The squeeze on living [...]
London markets follow Wall Street lower as rate hike jitters ramp up June 29, 2022 London markets followed their Wall Street counterparts lower today as investors fretted over the pace of rate hikes by central banks to tame inflation. The capital’s premier FTSE 100 index dropped 0.44 per cent to 7,291.48 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Central banks have fooled themselves into thinking they have power over inflation June 29, 2022 If we look under the bonnet of central banks, we find a debate which is almost theological in its nature.
Sunak: UK has ‘tools at our disposal’ to tackle 40-year high inflation June 28, 2022 The UK has “the tools at our disposal” to tackle the worst inflation spike in four decades, the chancellor urged today. Responding to a grilling by MPs in the house of commons, chancellor Rishi Sunak said Britain is “not immune” to the inflationary “shocks” that are sweeping through the world’s richest economies. Prices have climbed [...]
Lagarde: European Central Bank will go ‘as far as necessary’ to tame inflation June 28, 2022 The European Central Bank (ECB) will go “as far as necessary” to tame the worst bout of inflation on the Continent since records began, its chief said today. President Christine Lagarde said at the ECB’s monetary policy summit that the central bank’s commitment to getting the rate of price rises back to its two per [...]
Newly minted: Challenger bank Kroo is just second to be granted BoE licence since August 2016 June 27, 2022 There’s a new bank on the block with digital company Kroo receiving the first licence issued by the Bank of England since early 2021. The FinTech firm becomes just the second to get a green light since 2016, after completing a number of tasks to prove its robustness, compliance, risk management and leadership. Kroo was [...]
Lethal mix of inflation and interest rates cause value of IPOs to nosedive by staggering 90 per cent June 27, 2022 Businesses have endured challenging times recently, largely caused by external world events. Because of this, investor appetite has decreased for IPOs. In fact, rising inflation and interest rates have caused the value of initial public offerings in the US and Europe to fall by a staggering 90 per cent this year. Despite these obstacles 157 [...]
Exclusive: Brits’ patience with Bank of England and Bailey wears thin amid historic inflation crunch June 27, 2022 Brits’ patience with the Bank of England is wearing thin amid the worst inflation crunch in recent history, exclusive figures obtained by City A.M. reveal. Some 44 per cent of households are unhappy with Threadneedle Street’s performance over the last year which has seen inflation soar from 2.1 per cent in May 2021 to a [...]
UK to tip into ‘mild recession’ as cost of living crunch cools spending June 27, 2022 Brits responding to the cost of living crisis by reining in spending may tip the UK into a “mild recession” next year, reveals fresh forecasts released today. The Bank of England embarking on a rapid interest rate hike cycle may also send the economy into reverse, according to a new report by consultants KPMG. Yael [...]
As Sajid Javid outlines a digital NHS, tech needs to learn the health service’s values June 27, 2022 When Sajid Javid set out his reforms for the health sector back in March, he outlined his vision for a tech revolution. Healthcare, the health secretary argued, needed to follow the banking and shopping sectors, by using tech innovation to empower patients, leading to greater choice and convenience, and lower costs and health disparities. This [...]