Rishi Sunak to offer council tax rebates and cuts to protect households from rising energy bills February 3, 2022 The Treasury is preparing a council tax rebate scheme as part of Chancellor Rishi Sunak's plans to ease the pressure on UK households this spring.
FTSE-100 flat as investors await BoE rate decision February 3, 2022 London's premier index has opened flat today as investors await the Bank of England's decision on a rate hike.
Exclusive: Bank of England to launch quickest tightening cycle since 2004 February 3, 2022 The Bank of England will this year embark on the fastest rate hike cycle since 2004 in a bid to tame rampant inflation in the UK, starting at its meeting of rate setters today, reveals an exclusive City A.M. poll of top City economists. The first back-to-back rate hike in 18 years is a foregone [...]
Eurozone inflation hits record high piling pressure on ECB to act February 2, 2022 Inflation in Europe is running at its highest level ever, turning up the dial on the European Central Bank to rein in ultra-stimulative policy, reveals official figures released today. Prices are 5.1 per cent higher than they were a year ago in January, the hottest rate of inflation in the area of countries using the [...]
Staff at financial watchdog back action over pay February 1, 2022 Employees at the UK’s financial watchdog have voted to go on strike over proposed changes to pay and benefits at the agency. Unite the union said members who work at the Financial Conduct Authority (FCA) have voted overwhelmingly to take industrial action, with 87 per cent supporting the plans. This means that Unite can now [...]
Editorial: After months on the sidelines, it’s time for the Bank of England to enter the inflation fight February 1, 2022 After months on the sidelines, the Bank of England’s rate setting committee should finally enter the inflation fight at their meeting on Thursday. Arguably, governor Andrew Bailey has inherited not just Mark Carney’s role as Bank chief, but also his propensity to act like an “unreliable boyfriend” after keeping rates unchanged in November despite the [...]
Slowing US economy to throttle global growth February 1, 2022 A sharp slowdown in the stateside economy is set to throttle global growth this year, Wall Street analysts are forecasting. A wave of worker absences caused by the Omicron variant sweeping across the US has led to the American economy stumbling out of the blocks in 2022, according to Goldman Sachs. Americans will slash spending [...]
Exclusive: Ripple cosies up to UK regulators amid global payments push February 1, 2022 Ripple, the firm behind XRP, the world’s eighth largest crypto asset, aims to befriend UK regulators as it expands its cross-border payment capabilities.
National insurance hike to spike UK firms just as they recover from Plan B and Omicron February 1, 2022 The national insurance hike is set to spike UK businesses just as they have recovered from the Omicron and Plan B-induced economic hit, reveals a fresh survey released today. Firms are deeply concerned that a combination of the national insurance (NI) hike and swelling energy bills will limit their capacity to survive, according to research [...]
UK is lagging behind on crypto assets, says Philip Hammond January 31, 2022 The UK's former chancellor has warned Britain will lose its competitive advantage in financial services if it does not ramp up its crypto efforts.