Four things to watch as the Bank of England sets interest rates November 4, 2020 The Bank of England’s group of interest rate-setters will announce their latest monetary policy decision tomorrow, albeit virtually. Since the last meeting in September, the government has announced a new month-long lockdown for England amid soaring coronavirus cases. Most analysts expect the Bank to launch more stimulus to support the economy during the winter. Here [...]
FTSE 100 and US stocks jump ahead of presidential election November 3, 2020 The FTSE 100 jumped and US stocks rose sharply, as investors hoped that today’s US election would lead to a big stimulus package. Traders and investors around the world are preparing themselves for the culmination of a chaotic US election campaign. Polls have Democrat challenger Joe Biden well ahead, but memories of President Donald Trump’s [...]
Deliveroo taps JP Morgan as it steps up London float preparations November 3, 2020 Deliveroo is said to have appointed bankers at JP Morgan as it steps up preparations for an initial public offering in London next year. The food delivery app has added the Wall Street bank to its line-up of advisers alongside Goldman Sachs, Sky News reported. Deliveroo, which was founded in 2013 by Will Shu, is [...]
Frankfurt boosts euro clearing incentives for banks, escalating battle with London November 3, 2020 Deutsche Boerse is increasing the incentives for banks to shift clearing of euro-denominated derivatives from London to Frankfurt, escalating a battle between the financial hubs sparked by Brexit. The exchange will strengthen Eurex Clearing’s incentive programme, designed to encourage banks to move swaps from The London Stock Exchange’s LCH unit to Frankfurt, and extend the [...]
Government extends coronavirus business loans ahead of Thursday’s England lockdown November 3, 2020 The government has extended applications for its coronavirus business support loan schemes ahead of England entering a second lockdown on Thursday.
The view from outside the echo chamber: Working from home isn’t working November 3, 2020 After much speculation, a second national lockdown is here. For many, this is an extension of effectively nine months already spent working from home. However, some businesses are taking this a step further, by asking people to stay at home until the end of 2021, moving jobs to secondary cities, and even advertising for new remote-only [...]
Boris Johnson doubles support for self-employed during new lockdown November 2, 2020 Prime Minister Boris Johnson has announced a doubling of support for the self-employed during England’s new coronavirus lockdown and an extension of the deadline for government-backed business loans. Johnson addressed the House of Commons this afternoon after announcing a month-long lockdown on Saturday. MPs will vote on the new measures on Wednesday, with both Labour [...]
FTSE 100 closes higher and US stocks rise despite fresh coronavirus lockdowns November 2, 2020 The FTSE 100 rebounded strongly from a terrible last week and US stocks jumped as investors rediscovered some optimism ahead of the US election and key central bank meetings. London’s main stock index was 1.4 per cent higher at 5,654 points by the close of trade, despite the imposition of a new national lockdown. The [...]
A Scottish expedition: Falling in love with the Hebrides November 2, 2020 “Do you want to head for the shark or the dolphins?” As questions go, it’s not a bad one. In the distance to the right of us, the two fins of an 8-metre basking shark wobble gently from side to side as the extraordinary creature gorges on krill. To the left, coming closer, the tell-tale [...]
Goldman Sachs and Deutsche Bank return London staff to home working November 2, 2020 Goldman Sachs and Deutsche Bank are to return non-essential staff in their London offices to home working ahead of the introduction of a new coronavirus lockdown in England on Thursday. Several major banks had been encouraging staff to return to their London offices in recent months following the relaxation of initial lockdown measures, but news [...]