Exclusive: Seraphim Space posts UK Finance chairman to board March 22, 2022 Seraphim Space has lured in a new City veteran, City A.M. can reveal today, as the chairman of UK Finance steps onto the space capital firm’s board as a senior advisor. Bob Wigley, formerly chairman of Merrill Lynch – now Bank of America – for Europe, the Middle East and Africa, will maintain his role [...]
Business secretary to unveil neurodiversity business forum for greater support March 21, 2022 Business and banking heavyweights including Unilever and the Bank of England have launched a new forum for neurodivergent people in business. The Neurodiversity in Business (NiB) forum is set to support the neurodivergent community in the workplace, taking into account the strengths and differences of “brain-wiring”. Business secretary Kwasi Kwarteng will unveil the new body [...]
Financial regulators shine spotlight on crypto amid Ukraine conflict March 21, 2022 Global financial regulators have confirmed they are closely monitoring the role of crypto assets amid the conflict between Russia and Ukraine.
Letters: Weaning off Covid-19 cash March 21, 2022 [Re: Small business lending tumbles amid strong economic rebound, March 14] UK Finance data shows strong economic recovery from the pandemic led to borrowing among small businesses falling off a cliff last year. However, we observed a 58 per cent year-on-year increase in SMEs seeking finance in January 2022, demonstrating a rebound in activity and [...]
Extra 125,000 workers will pay National Insurance in ‘stealth tax’ hike March 20, 2022 An extra 125,000 people will have to pay National Insurance under Rishi Sunak’s current tax plans, new research has revealed. Research compiled by the Liberal Democrats, using figures from the House of Commons library, suggest that employees face an extra £1.1bn hit through a “stealth tax” if Sunak does not increase the current threshold by [...]
Soaring inflation is UK’s main financial concern March 20, 2022 Soaring inflation is the top financial concern for UK adults, in both the long and short term, according to new research from M&G Wealth. A quarter (25 per cent) of UK adults cited soaring inflation as their main financial concern over the coming year, according to a survey of 2,000 people. A further 18 per [...]
Bitcoin shows signs of maturing as world economies look likely to worsen further March 18, 2022 Jason Deane digs through an avalanche of news narratives to decipher what's affecting the price of Bitcoin this week.
Europe set to open higher as Bank of Japan keeps policy unchanged March 18, 2022 European and US stocks have continued to recover lost ground this week, despite there being little prospect of a ceasefire, or imminent cessation of hostilities, between Russia and Ukraine. “We did falter a little bit during the European trading session after the Kremlin poured cold water on reports of major progress on peace talks, calling [...]
London’s top indexes jump as Bank of England hikes rates again March 17, 2022 London’s top indexes jumped yesterday after the Bank of England lifted interest rates for the third meeting in a row. The capital’s premier FTSE 100 index climbed 1.28 per cent higher to 7,385.34 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.34 per cent [...]
The City View: P&O Ferries in hot water, and the Fed and BoE hike rates March 17, 2022 Today Andy Silvester returns to host The City View — he chats to City A.M.’s Economics and Markets reporter Jack Barnett about the Fed and Bank of England’s rate hikes, and the Monetary Policy Committee statement that further tightening of monetary policy may be needed in the next few months. Andy also takes us through [...]