City A.M. Awards 2022: Analyst of the Year March 30, 2022 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
Investors should stop listening to Bank of England’s rate guidance, deputy governor says March 30, 2022 Investors should stop listening to the Bank of England’s guidance on the path of interest rates, a member of the central bank’s rate setting committee said today. Ben Broadbent, a deputy governor on the Bank’s Monetary Policy Committee, sent a signal to investors urging them to stop taking their signals so seriously. Central banks issue [...]
City Moves: Who’s switching jobs in the Square Mile? March 30, 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. Johnston Carmichael Accountancy and business advisory firm Johnston Carmichael has bolstered its London leadership team with a new internal audit and controls assurance partner. Si Mathavan, who joins from EY where he was director of the assurance team, brings 17 years’ worth of experience [...]
Retailers lead the way in London after industrials give up gains March 29, 2022 High street retailers lifted London’s top indexes today despite a sharp drop in oil prices prompting investors to ditch industrial giants. The capital’s premier FTSE 100 index climbed 0.86 per cent to reach 7,537.25 points, while the domestically-focused mid-cap FTSE 250 index surged two per cent to 21,491.97 points. Traders are seemingly upbeat about the [...]
Recessionary threads begin to weave through present economic landscape March 29, 2022 This week, Bank of England governor Andrew Bailey warned this year’s energy shock will be bigger than any seen during the 1970s. The ripple effects on consumers from soaring energy bills has sparked a wave of economists to slash this year’s growth forecasts on concerns spending will be knocked by a steep fall in living [...]
Average mortgage hits £235k as cost of living crunch threatens home ownership plans for many March 29, 2022 The total value of mortgages lent rocketed last month as buyers face more affordability roadblocks to home ownership. Some 70,933 mortgages were given the green light in February, compared to 73,841 in January, according to the Bank of England’s monthly money and credit figures. However, the total value lent rose (from £16.6bn to £16.7bn), meaning [...]
Brits splash on the plastic to uphold spending amid cost of living squeeze March 29, 2022 Brits are scrambling to take on debt to maintain spending amid one of the tightest cost of living crises in a generation, new figures released today reveal. Soaring prices and weak pay growth are making it tougher for households to maintain their existing lifestyles, strengthening incentives to use credit cards to plug budget gaps. Data [...]
Treasury prepares to unveil new UK rules for crypto industry March 29, 2022 The UK government is poised to reveal its regulatory plans for the crypto industry in the coming weeks with particular focus on stablecoins.
Fears crypto is used to avoid sanctions ‘misplaced,’ says Hancock March 28, 2022 Matt Hancock has swooped to the defence of crypto amid concerns digital assets are allowing Russians to circumvent sanctions.
Russia-Ukraine war has made it nearly impossible for BoE to forecast UK economy, warns governor Bailey March 28, 2022 Uncertainty about how the Russia-Ukraine war will develop has made it nearly impossible for the Bank of England to chart the trajectory of the UK economy, the Bank’s governor warned today. A lack of information on the Kremlin’s next moves in their assault on Ukraine has made it harder to forecast the direction of the [...]