Credit Suisse readies £350m claim against Softbank over Katerra collapse May 8, 2022 Embattled lender Credit Suisse is reportedly readying a £350m claim against SoftBank over the bankruptcy of US construction firm Katerra, which imploded after supply chain finance firm Greensill Capital collapsed last year.
Week ahead: Fresh GDP figures to reinforce stagnation fears May 8, 2022 Further evidence that the UK economy is headed into reverse is likely to emerge this week when fresh GDP estimates are released on Thursday. A damning set of forecasts released by the Bank of England last week weighed heavily on London’s top companies. The capital’s premier FTSE 100 index fell 1.61 per cent over the [...]
Ex-chief economist calls out BoE for acting too slowly to curb inflation May 7, 2022 The former chief economist at the Bank of England has accused the central bank of mismanaging the UK economy amid soaring inflation.
Tech Weekly: Matt Hancock on crypto ambitions and lockdown decisions May 6, 2022 This week City A.M. reporters Lily Russell-Jones and Charlie Conchie sit down with Conservative MP and former Health Secretary Matt Hancock. They chat about his outspoken views on crypto, regulation, and the need for accessibiity when it comes to crypto investing; go through his post-Cabinet ambitions; and unpick his decision-making at the height of the [...]
Investment giants batten down the hatches as inflation soars May 6, 2022 Investment giants are braced for rampant inflation and an extended period of rate hikes after the Bank of England warned yesterday the economy is at risk of sliding into recession this year.
Forget a windfall tax, our pension funds need to give up their fossil fuel addiction May 6, 2022 Yesterday, Shell reported their highest ever quarterly profits after raking in $9.13bn. Only days before, BP had similar results, with the largest earnings in more than a decade. Even if you didn’t know much about the industry, with the surging price of oil and gas, you could have easily predicted this. Indeed, many politicians did, [...]
A textbook crypto capitulation, or is Bitcoin getting dragged down by market contagion? May 6, 2022 The sudden capitulation of the crypto markets has taken analysts by surprise, and it may be some time before we figure out the true cause.
What a difference a day makes: Markets go into full reversal mode as recession concerns grow May 6, 2022 What a difference a day makes? Having rallied strongly in the aftermath of the Federal Reserve’s decision to hike rates by 50bps on Wednesday evening, and not go harder, US stock markets went into full reversal mode yesterday, dragging European markets down with them. Bond yields also shot back up, with the US 10 year [...]
Thanks, Bank of England: Households will pay £858m more in interest after yesterday’s rate rise May 6, 2022 With the Bank of England Monetary Policy Committee confirming yesterday that its base rate will rise by 0.25 per cent to 1 per cent, UK households face an immediate increase in interest payments of around £858m. Analysis of Bank of England data shows UK households are currently paying £18.3bn annually in interest payments on floating rate [...]
Consumer watchdog urges energy users to boost energy efficiency to drive down household bills May 5, 2022 Uswitch.com has called on households to focus on energy efficiency and ramping up insulation to ease the pressure of rising energy bills.