Federal Reserve strikes dovish tone to calm inflation fears May 26, 2021 The Federal Reserve last night reaffirmed its dovish approach to monetary policy, reassuring investors concerned about rising inflation. Fed vice chair Richard Clarida said the US central bank would be able to curb an outbreak of inflation and ensure a “soft landing” without hampering the country’s economic recovery. Fears have been mounting among investors about [...]
St James’s Place enjoys strong inflows as client confidence improves May 26, 2021 Money manager St James’s Place said inflows this year had surged as government spending and the vaccine rollout drove positive investor sentiment. The FTSE firm said gross inflows for the five months to the end of May 2021 are likely to be around 23 per cent higher than the same period last year. It comes [...]
The Gym Group beats expectations on strong reopening demand May 26, 2021 The Gym Group today said trading had outperformed expectations since the easing of lockdown measures as Brits flocked back to its venues to get in shape. The fitness firm reopened its gyms in England on 12 April, followed by reopenings in Scotland on 26 April and Wales on 3 May. Its entire estate of 187 [...]
Financial services industry is one of the UK’s biggest contributors to climate change May 25, 2021 Financial institutions are under fire for not doing enough to tackle climate change in the UK, despite the recent focus on green financing. UK banks and asset managers were responsible for financing 805m tonnes of carbon in 2019, equivalent to 1.8 times the annual net emissions of the UK as a whole. The research by [...]
EY staff to work two days a week from home post pandemic May 24, 2021 EY has today confirmed that the majority of its staff will work from home for two days a week for good, the latest big business to eschew a return to the traditional office life. The Big Four firm’s 17,500 staff will spend three days a week in the office or at client sites, with the [...]
Andrew Bailey says there are some ‘hot spots for prices’ but plays down inflation fears May 24, 2021 Bank of England governor Andrew Bailey has warned there are some “very hot spots in terms of prices”, but that he is confident inflation won’t run well above the UK’s two per cent target in the long-term. Annual CPI increased from 0.7 per cent to 1.5 per cent in April, creating fears among some that [...]
Bank of England felt no Treasury pressure to give Greensill preferential treatment, says Bailey May 24, 2021 The Bank of England did not face pressure from the Treasury or David Cameron to give Greensill Capital preferential treatment in evaluating the firm for a large-scale loan, according to bank governor Andrew Bailey. Bailey told MPs today that lobbying efforts from Cameron did not mean the failed supply chain finance firm had better treatment [...]
Can companies really balance the needs of all stakeholders? May 24, 2021 The question of whether companies can combine profits with purpose continues to be a thorny one. In March, management change at French food producer Danone underlined the difficulties some companies face in trying to become more sustainable businesses. The CEO-chairman, who had made a powerful statement of intent by formally turning Danone into a “purpose-driven [...]
Beyond Pret sandwich sales, how do we measure the recovery of London? May 23, 2021 After more than a year of lockdown restrictions, words like “recovery” are thick in the air. Indeed, the Bank of England is forecasting annual growth of 7.25 per cent, the fastest rate since 1941; positive news, but it is not the most digestible statistic for much of Britain’s population. The most important benchmarks are ones [...]
TGI Fridays to float its 87 restaurants on London Stock Exchange this year May 21, 2021 The owner of TGI Fridays has revealed plans to float the restaurant chain on the London stock market. Electra Private Equity, which has owned the casual dining brand since 2014, said it plans to float it on the FTSE main market in the third quarter of this year. The owner told investors today that it [...]