Tory leadership race descends into all out war in televised debate July 17, 2022 The Conservative leadership race descended further into vicious mudslinging today as the remaining five candidates tore shreds off each other for 60 minutes in a televised debate. Frontrunners Rishi Sunak and Liz Truss had a number of bruising encounters, with the ex-chancellor accusing the foreign secretary of peddling “something for nothing economics” that are closer [...]
Tory leadership: Raab hits out at Truss’ record as Treasury minister July 17, 2022 Dominic Raab has questioned the record of Tory leadership hopeful Liz Truss when she worked as a Treasury minister in response to her attacks on Rishi Sunak. The Deputy Prime Minister, a Sunak supporter, said “people can see whether spending and headcount in the civil service went up or down” when Truss worked as chief [...]
Week ahead: More inflation woe to pile pressure on Bank of England to act July 17, 2022 Inflation bumped higher last month, reinforcing pressure on the Bank of England to motor through rate hikes, according to City analysts. London’s premier FTSE 100 index notched a poor performance last week, losing a shade over 0.5 per cent to finish at 7,159.01 points. The domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
MPs launch crypto inquiry to shore up defence against market crash July 13, 2022 The influential Treasury select committee has launched an inquiry into the role of crypto-assets in the UK today as lawmakers look to shore up the UK's financial system against another crypto crash.
City frets over steeper Bank of England rate rise after GDP boost in May July 13, 2022 A better than expected assessment of the UK economy was not enough to push London’s top indexes higher today. The capital’s premier FTSE 100 index dropped 0.74 per cent to 7,156.37 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.76 per cent to [...]
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. [...]