House prices jump to record £282,753 amid highest inflation since mid-2007 April 7, 2022 The average price of a home has jumped 11 per cent over the past year to a new record figure, according to the Halifax House Price Index. The average price of a house is now £282,753, a steep increase of £43,577 in just two years after the UK’s first Covid-19 lockdown. Prices have increased 1.4 [...]
The City View: Innovate Finance summit roundup, and two Lidl adverts banned April 6, 2022 Today Andy Silvester chats to City A.M. reporter Charlie Conchie, and whistles through the main headlines you need to know. Andy and Charlie go through this week’s fintech Innovate Finance summit — they discuss the London Stock Exchange CEO’s comments yesterday on bosses needing a pay boost; Ron Kalifa’s views on the mindset shift needed [...]
Bank of England spent £50,000 on logo and website re-design April 6, 2022 The Bank of England’s (BoE) recent logo and website re-design cost £50,000, a freedom of information request has revealed. The nearly 330-year-old institution, which is funded by banks – not the taxpayer – made a bid to change its image last month, to better reflect the makeup of the country, but it came at a [...]
UK inflation to scale to twin peaks in April and October April 6, 2022 Inflation in the UK will have twin peaks this year in a sign that households will absorb a double hit to their living standards. At the start of the year, the cost of living was originally forecast to peak in April, driven by the energy watchdog hiking the cap on energy bills 54 per cent. [...]
Bank of England to launch 1980s style rate hike cycle as it scrambles to douse down rampant inflation April 6, 2022 The Bank of England will hike interest rates at the quickest pace since 1988 this year as it scrambles to douse down rampant inflation. 0Threadneedle Street will lift borrowing costs four more times this year, taking the calendar year total number of hikes to six, according to forecasts by investment banking giant JP Morgan. The [...]
Explainer: Why the Treasury is sold on the promise of stablecoins April 6, 2022 The UK was left reeling this week by the revelation that Rishi Sunak intends to turn the UK into a "global hub" for crypto assets.
City Moves: Who’s switching jobs in the Square Mile today? April 6, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Guinness Global Investors Guinness Global Investors has appointed two leads to its London office. Patrick Healey, who joins as head of operations, from Kepler Partners, and has held a handful of roles at Deutsche Bank, RBC, Nomura [...]
Inflation heats up as UK firms launch record price rises April 5, 2022 The cost of living squeeze that is already threatening to cool growth is tightening, driven by UK businesses lifting prices at the fastest pace on record to cope with a cost storm, a closely watched survey released today reveals. A combination of soaring staff costs, swelling energy bills and higher raw material prices has coaxed [...]
What does the current volatility mean for energy transition investing? April 5, 2022 The driving forces behind the energy transition remain as strong as ever and the current market volatility has only enhanced these trends. There is a lot going on in the financial markets right now. Meaningful inflation has returned for the first time in decades. Supply chains everywhere continue to be disrupted. Geopolitical and social tensions [...]
Giving crypto the ministerial seal of approval comes with responsibilities April 4, 2022 As Rishi Sunak is finding out, value can be volatile. Last year he was the odds-on favourite to replace Boris Johnson in Number Ten, popular with Tory party members and (for a Cabinet minister, at least) the public at large. Alas this year, though Sunak has done very little differently, his stock isn’t quite flying [...]