London markets shake off Fed tightening concerns October 14, 2021 London markets this morning shook off fears that the Bank of England could follow the US Federal Reserve and begin tightening monetary policy next month. The capital’s premier FTSE 100 index climbed 0.69 per cent to 7,191.41 points during the opening session today. More to follow.
Londoners’ petrol and energy costs up by record 20 per cent in last two weeks alone October 14, 2021 Analysis of Brits’ debit card data shows this morning that September 24 saw the highest amount spent on fuel in a single day since Lloyds Bank records began. The peak fell the day after BP and Tesco closed some filling stations due to problems with fuel delivery. Across the UK, people spent a fifth (20 [...]
Tax hikes to derail UK economy at the final hurdle October 14, 2021 Imposing punitive tax hikes on businesses will blow the UK economic recovery off course just as it is in touching distance of reaching pre-pandemic strength. That’s the warning to Chancellor Rishi Sunak from economists and industry leaders after data from the Office for National Statistics (ONS) revealed Britain is inches away from full repair. “Our [...]
Bank bigwig warns of potential for “massive” crypto crash October 14, 2021 A BANK of England grandee has called for cryptocurrencies to be regulated as a “matter of urgency,” warning that a “massive” market crash is a realistic scenario. Sir Jon Cunliffe, the Bank’s deputy governor for financial stability, said that crypto volatility poses a rapidly growing threat to the world economy. A crash would have the [...]
Bank of England scraps closed-door briefings with banks October 13, 2021 The Bank of England has scrapped holding private meetings with banks and financial institutions in a bid to raise transparency at the central bank. The shift in position comes after pressure on the world’s leading central banks to stop hosting off the record briefings with banks mounted following European Central Bank chief economist Philip Lane [...]
Bank of England: Crypto regulation must be pursued as ‘matter of urgency’ October 13, 2021 The Bank of England has called for crypto currencies to be regulated as a “matter of urgency” warning that a market crash is “plausible.” Speaking at the SIBOS conference yesterday, Jon Cunliffe, deputy financial stability officer for the UK’s central bank said that crypto poses a rapidly growing threat to the global economy. A crypto [...]
UK economy returns to growth in August amid staycation boom October 13, 2021 The UK economy returned to growth amid a boom in staycation spending and Brits making the most of an easing in self-isolation rules by rushing to pubs, bars and restaurants. The economy expanded 0.4 per cent in August, a resumption to growth after the Office for National Statistics (ONS) marked down July’s figure to minus [...]
Return to growth fails to lift FTSE 100 as investors brace for BoE rate hike October 13, 2021 A return to economic growth in the UK was not enough to lift the FTSE 100 this morning as investors mulled whether the upbeat data would push the Bank of England to hike rates this year. The capital’s premier index dipped 0.45 per cent to 7,098.19 points. The UK economy grew 0.4 per cent in [...]
Billionaire hedge fund tycoon Chris Hohn ramps up climate campaign against central banks October 12, 2021 Multi-billionaire hedge fund manager Sir Chris Hohn has ramped up his latest campaign against the banking industry with a set of reforms aimed at quelling its financing of fossil fuel producers, and called on regulators to “immediately reduce” climate-related risk in the financial system. Hohn, who paid himself £343m last year in what is believed [...]
Carney backs government support for energy users during gas price crisis October 12, 2021 Mark Carney believes the UK government should support energy users hit by rapidly rising energy costs. With gas prices soaring to record levels, the former governor of the Bank of England appeared to lend his support to the Prime Minister’s upcoming bail-out plans for businesses. The government is set to provide state loans to struggling [...]