Morgan Stanley: UK bank shares could fall 20 per cent in no-deal Brexit December 11, 2020 Morgan Stanley has said UK bank shares could tumble 10 to 20 per cent in a no-deal Brexit, with the FTSE 250 dropping as much as 10 per cent. It comes as the UK and EU struggle to sign a free-trade agreement. Prime Minister Boris Johnson yesterday said a no-deal Brexit outcome was now a [...]
BoE gives lenders all-clear and extends zero capital buffer December 11, 2020 The Bank of England has said the UK’s lenders are strong enough to withstand an economic shock much worse than the one currently predicted, but extended the period in which banks can hold reduced capital buffers to try to encourage lending. Despite the all-clear, the Bank’s Financial Policy Committee (FPC) said that Brexit could cause [...]
Before the Bell: Preparations start for a no deal Brexit December 11, 2020 It was another mixed session for European stocks yesterday, with the FTSE100 outperforming on the back of a slightly weaker pound, but it was notable that we saw heavy falls in UK banks and other stocks with a domestic focus on no deal Brexit concerns. Brexit talks With UK/EU trade talks extended to the weekend, [...]
UK Banks OK to restart dividend payments, PRA says December 10, 2020 The banking regulator has given lenders the go-ahead to restart dividend payments, saying it believes they are in a strong enough position to withstand a hit to the economy more severe than the current expectations. The Prudential Regulation Authority (PRA) lent on banks to stop paying out dividends in the spring. It said they should [...]
One in 10 British businesses think they will go bust in the next three months December 10, 2020 Twelve per cent of all businesses in the UK think they will buckle in the next three months, as tough coronavirus restrictions continue to weigh on the British economy. Around eight per cent of businesses currently trading have none or little confidence of surviving over the next three months, according to the latest figures from [...]
City regulator confirms mini-bond marketing ban December 10, 2020 The Financial Conduct Authority has today confirmed its permanent ban on the marketing of mini-bonds to retail investors amid concerns over losses. It comes after a series of scandals involving unregulated bonds, including the collapse of London Capital & Finance (LCF) last year. The confirmation follows a temporary ban introduced in January after the regulator [...]
Bitcoin sets a new all-time high and Ethereum starts its journey to ETH 2.0 December 8, 2020 Last week was one of the most exciting weeks in 2020 for the crypto community, with an abundance of bullish news for Bitcoin and the achievement of a huge milestone for the Ethereum Foundation. Bitcoin’s new all-time high is $19,911, and this price was reached at 11:00 UTC on December 1, according to data by [...]
Could Goldman Sachs teach the UK how to level up organically? December 8, 2020 Almost exactly one year ago, a freshly elected Conservative government made “levelling up” one of its core priorities. Facing a new parliament with a healthy majority and a dynamic Prime Minister (remember that?), the government promised to bring individual prosperity to regions of the UK which had been “left behind”: not just the big cities [...]
UK hiring outlook weakest in Europe as Covid hits London jobs market December 8, 2020 UK companies are the most pessimistic in Europe about hiring in the first quarter of next year, according to a major survey, with London’s jobs outlook hitting its lowest level on record as the hospitality industry is battered by coronavirus. However, the overall jobs outlook for the UK for the first three months of next [...]
UK house prices grow at strongest pace in four years December 7, 2020 UK house prices soared by 7.6 per cent in the year to November, according to the latest figures from Halifax, as buyers sought more space and tried to beat the end of the stamp duty holiday. House prices rose 1.2 per cent month on month and 7.6 per cent year on year to hit an [...]