Bank of England reprimands Euroclear over malfunction June 25, 2021 The Bank of England has taken supervisory action against Euroclear UK and Ireland after its CREST financial markets system crashed, it announced on Friday. The malfunction resulted in the Bank of England delaying purchases of government bonds through its bond buying programme. “The outage was caused by an issue with messaging software which resulted in [...]
Euro 2020 fails to trigger surge in spending on pints June 25, 2021 Euro 2020 has failed to trigger a burst in spending at pubs and restaurants, reveals new research. Spending in pubs and restaurants in the first 13 days since Europe’s flagship international football tournament kicked off was eight per cent lower than the 13 days before, according to debit card spending data from Lloyds Bank. The [...]
Exclusive: Report ranks England among the worst teams left at Euro 2020 – but last-16 opponents Germany have been one of the best June 25, 2021 England are one of the worst performing teams left in Euro 2020, according to data analysis shared with City A.M. Gareth Southgate’s side, who face Germany in the second round on Tuesday, rank 16th out of 24 teams based on performance in the group stage. England have a lower rating than Turkey, Poland and Slovakia, [...]
Consumer confidence resilient in June despite freedom day delay June 25, 2021 Consumer confidence remained resilient despite a delay to a lifting of the remaining lockdown restrictions in the UK, a closely watched survey has revealed. Data from GfK shows overall consumer confidence remained unchanged over the last month at minus nine in June 2021. But, this is up significantly from minus 30 in June last year. [...]
Bank expects inflation to breach target and shoot above three per cent June 24, 2021 Bank of England expects inflation to breach target and shoot above three per cent
Rishi Sunak vows to change UK’s ‘economic geography’ June 24, 2021 Rishi Sunak has vowed to alter the UK’s “economic geography” by ensuring the post-Covid recovery is “more evenly felt across the country”. Sunak also highlighted the need for Britain to invest in high-growth sectors, such as fintech, which the chancellor says will fundamentally alter the economy. Sunak highlighted the government’s Help to Grow scheme, which [...]
FTSE 100 jumps as investors digest Bank of England rate decision June 24, 2021 The FTSE 100 climbed this afternoon as investors digested the Bank of England’s decision to hold rates at a record low. The capital’s premier index gained 0.56 per cent in afternoon trading to reach 7,113. A weaker pound helped to the lift the export-heavy blue chip index. Food delivery company Just Eat gained 2.19 per [...]
City looks to Bank of England for clues on inflation battle plan June 24, 2021 City looks to Bank of England for clues on inflation battle plan
Former chancellor George Osborne named British Museum chair June 24, 2021 George Osborne has been named as the new chair of the British Museum, marking the latest high-profile role for the former chancellor. Osborne will join the board in September and take up the role of chair from 4 October. He takes over from former Financial Times editor and CBI director general Sir Richard Lambert, who [...]
FCA boss vows transformation after MPs slam historic ‘culture’ failings over mini-bond collapse June 24, 2021 The Financial Conduct Authority said it was embarking on a “wide-ranging transformation programme” after MPs lambasted it for historic failings relating to the collapse of London Capital & Finance (LCF). A report from the influential Treasury Select Committee of MPs said that a change in the FCA’s “culture” was required to protect consumers from a [...]