Bank of England can cut rates below zero, Saunders says December 4, 2020 By William James and William Schomberg LONDON (Reuters) – The Bank of England can probably cut interest rates slightly below zero, and it should be ready to pump more stimulus into the economy quickly if needed to recover from the coronavirus crisis or a Brexit hit, BoE policymaker Michael Saunders said. “In my view, there [...]
Italy’s Eni joins North Sea wind power grab with Dogger deal December 4, 2020 By Nerijus Adomaitis and Stephen Jewkes OSLO/MILAN (Reuters) – Italy’s Eni is buying a 20% stake in the Dogger Bank Wind Farm project from Norway’s Equinor and Britain’s SSE as it seeks to gain expertise in the sector and cut its greenhouse gas emissions 80% by 2050. The project off the northeast coast of England [...]
Hush money: Bank of England pressured to find ‘missing’ £50bn in cash December 4, 2020 The Bank of England must launch an investigation to find £50bn of “missing” banknotes that have been “stashed” around the country, the government’s spending committee has warned. In a rare exchange with Threadneedle Street, the Public Accounts Committee (PAC) today called on the Bank to “get a better handle on the national currency it controls”. [...]
Exclusive: Investors prioritise security as they flock to low risk assets December 3, 2020 UK investors are shifting their attention to low risk assets as they prioritise security over returns in their investment strategies for the next year. A survey of almost 900 UK investors by Butterfield Mortgages reveals that nearly half have lost money due to the volatility caused by the pandemic. In times of uncertainty, investors will [...]
Exclusive: Andy Bell warns ‘we’ll all feel the pain of negative interest rates’ December 3, 2020 As the Bank of England mulls the introduction of negative interest rates AJ Bell’s chief executive has told City A.M. customers will suffer as a result. The central bank has already slashed interest rates to a record low of 0.1 per cent to support lending through the pandemic. “We’ve discussed how we’d deal and cope [...]
Pfizer vaccine to be rolled out across 50 hospital hubs from next week December 2, 2020 Around 50 hospital hubs around England will start offering the Pfizer vaccine to patients and staff in care homes from next week, the chief executive of the NHS has announced. Speaking at this evening’s Downing Street press conference, Simon Stephens said the NHS would also start sending letters out next week inviting vulnerable members of [...]
It’s coming home: Former City banker bids to bring England’s 1966 World Cup glory back to life December 1, 2020 A former City banker hopes to bring England’s finest footballing hour back to life by showing the 1966 World Cup final in colour for the first time. Neil Canetty-Clarke is one of the leading figures behind #FullColour66, which aims to raise £700,000 via a unique crowdfunding campaign that launches today. Investors can pledge as little [...]
Mortgage approvals jump to 13-year high as pandemic prompts house moves November 30, 2020 Mortgage approvals jumped last month as the coronavirus pandemic, and support measures such as the stamp duty holiday, prompted more people to move home. The number of mortgage approvals for house purchase reached 97,500 in October, compared to 92,100 the previous month, reaching the highest level since September 2007. Approvals were 33 per cent higher [...]
Playing FTSE: How a global index was born in London November 30, 2020 It is now more than two decades since FTSE was founded – becoming common parlance not just in the City but across the business world. FTSE’s founder Mark Makepeace has teamed up with respected business journalist James Ashton to tell the story of the FTSE – and how it grew from nine people in an [...]
Easyjet working with restructuring heavyweights Alix Partners to reduce debt pile November 30, 2020 Low-cost carrier Easyjet is working with restructuring heavyweights Alix Partners in an attempt to refinance its hefty debt pile. The Telegraph first reported that the FTSE 250 carrier had asked the US firm for help as it is faced with paying back £1.4bn in debt to various lenders. The airline must repay a £600m loan [...]