Spectre of ‘stagflation’ looms over UK economy September 23, 2021 The UK economy is in real danger of undergoing a period of “stagflation” as prices soar and growth slows to a snail’s pace, according to a closely watched survey released today. The latest IHS Markit / CIPS UK composite output index dropped to 54.1 in September, down from August’s reading of 54.8. Chris Williamson, chief [...]
Markets today: Fed tilts towards a taper, Bank of England up next September 23, 2021 European markets underwent another strong session yesterday, as concerns about Evergrande diminished further, while markets in the US shook off their early week malaise by finishing close to the highs of the day in the wake of last night’s Fed meeting, which despite what looked like a fairly neutral statement, saw the central bank outline [...]
Cloudy outlook to prompt MPC to hold fire on rates and QE September 23, 2021 A slowing economic recovery from the Covid-19 crisis, sharp energy price rises and tax hikes squeezing Brits’ household incomes are likely to prompt the Bank of England’s committee of rate setters to err on the side of caution today. The Bank’s monetary policy committee (MPC) will announce its latest decision on rates and the fate [...]
Bank of England’s reputation is at stake in the interest rate tragicomedy September 22, 2021 Misplaced expectations often lead to wasted time. Pip, Vladimir and Estragon waiting for Godot, and even England fans crying out for the arrival of Jack Grealish during Euro 2020. These stories teach us that banking on something to happen can lead to opportunities going amiss. The Bank of England could be lumped into that group [...]
Lord Mayor calls on financial regulators to focus on innovation and sustainability September 22, 2021 Lord Mayor of the City of London, William Russell, will tonight (22 September) deliver a speech at the City Dinner at The Mansion House to an audience of senior regulators and representatives from across the financial and professional services industry. Lord Mayor William Russell will speak alongside Sam Woods, Deputy Governor of the Bank of England [...]
Lend your support to City A.M.’s London Marathon runner and help charity Give Them A Sporting Chance September 22, 2021 City A.M. hit the streets again this week and thousands of runners are preparing to do the same at the London Marathon next month. Among them will be City A.M.’s own representative George Reed, who is raising money for Give Them A Sporting Chance, a charity that helps carers and those with disabilities of all [...]
Ten Entertainment bowled over by most successful summer ever September 22, 2021 Family entertainment provider Ten Entertainment has marked record sales since it reopened after England’s third lockdown. The firm – which operates 46 bowling and family entertainment centres in the UK – said it had seen 22.5 per cent sales growth in the six weeks from May 17. Like-for-like sales in the 11 weeks since June [...]
Easing Evergrande fears lift FTSE 100 as investors brace for Fed rate decision September 21, 2021 The FTSE 100 rallied today to cancel out sharp losses registered yesterday, driven by easing fears over the fallout if heavily indebted Chinese property Evergrande collapses. The capital’s premier index finished up 1.12 per cent at 6,980.98 points, up from this week’s starting position of 6,963.64 points. Global markets sold off sharply on Monday, triggered [...]
British businesses return £300m in furlough cash as spectre of Covid recedes September 21, 2021 UK businesses returned £300m in furlough cash, triggered by the spectre of Covid-19 over the British economy receding, according to official figures released today. The repayment now takes the total amount of money returned to the public coffers to £1.3bn since July last year, the Treasury said. Rishi Sunak, chancellor, said: “This Government stepped in [...]
Premier League NFTs: Sorare aiming to launch digital fantasy football trading cards collection following similar deal with Spain’s LaLiga September 21, 2021 French technology start-up Sorare is hoping to launch a range of NFTs comprising digital fantasy football trading cards with the Premier League. The company, which has raised £500m from investors including SoftBank, has emerged as a major player in sport’s growing blockchain economy and recently struck a deal with Spain’s LaLiga. “We have had conversations, [...]