Buckle up: Wild ride on Wall Street as rate rise talk spooks investors January 10, 2022 An explosive Goldman Sachs note triggered a day of drama on Wall Street today after the investment bank warned of as many as four US Fed rate rises in 2022 alone. The tech-heavy Nasdaq crashed by as much as 2.7 per cent in early trading, tipping it briefly into correction territory. A late rally saw [...]
UK inflation to remain more than double BoE’s target for entire year January 10, 2022 UK inflation will run at more than double the Bank of England’s two per cent target for a whole year, reveals fresh forecasts published today. The rate of price increases will peak at 6.7 per cent this April, lifted higher by the energy bill cap being hoisted around 50 per cent, according to investment bank [...]
Santander lures Barclays veteran Jane Galvin away from HSBC in banking war for top talent January 10, 2022 Santander UK announced this morning the appointment of Jane Galvin as Head of Corporate Clients within its Corporate and Commercial Banking (CCB) division. Galvin, a City heavyweight who made a name for herself during three decades at Barclays, will start at the beginning of February and will report directly to CCB head Tim Hinton. She [...]
Three in four small business owners worried about rising inflation this year January 10, 2022 71 per cent of UK small business owners are concerned about rising inflation, according to new analysis from Iwoca.
Cost of living crisis: Millions of savers miss out as UK banks pocket profits from higher interest rates January 10, 2022 The UK’s major banks have failed to pass on last month’s interest rate rise to millions of savers, according to Moneyfacts.
Why the energy crisis is set to derail the UK economy in 2022 January 7, 2022 A wave of concern over the swelling cost of living is sweeping across Britain. While households are bracing for higher tax bills and are already being stung by food prices leaping, it is swelling energy costs that will hit hardest in 2022. The UK’s benchmark gas prices have quintupled since January 2021, leaping from £54 [...]
DeFi can surpass traditional finance, institutions need to embrace it now January 7, 2022 We imagine partnerships will emerge, and interoperability between traditional and decentralised financial companies will become the norm, says Rob Gaskell.
Better regulations, not more, are the answer to greenwashing controversies January 7, 2022 Last year, we talked a lot about climate action and what the financial industry could do to make a difference. At Cop26, the former governor of the Bank of England Mark Carney unveiled his brainchild for combating climate change: the Glasgow Financial Alliance for Net Zero. At the time, Carney boasted $130tn mobilised in pursuit [...]
CBDCs: China leads global race as e-yuan payments arrive on WeChat January 6, 2022 China has emerged as a front runner in the race to develop state backed electronic money, with e-yuan payments now available on WeChat.
Plan B blows UK economic recovery off course January 6, 2022 The imposition of Plan B in a bid to flush out a wave of Omicron cases whacked the British economy last month, reveals a closely watched survey released today. Brits were encouraged to work from home and limit socialising in December, igniting a mass exodus from city centres and high streets, dealing a heavy blow [...]