Natwest and Lloyds signal willingness to bring back dividends September 27, 2020 Two of the UK’s largest banks have indicated that they are ready to restart paying dividends as the Bank of England prepares to review its ban on shareholder payouts. Executives at Natwest and Lloyds have hinted at the strength of their balance sheets, with Natwest chairman Howard Davies saying lenders would resume paying dividends if [...]
Evidence on negative rates ‘encouraging’, says Bank of England policymaker September 27, 2020 The Bank of England has seen “encouraging” evidence that negative interest rates could help the British economy during the downturn triggered by the coronavirus, a policymaker has said. Silvana Tenreyro, who sits on the Bank’s monetary policy committee (MPC), said the committee has been discussing what options it has in its toolkit, including “how effective [...]
London gains ground on New York in ranking of global financial centres September 25, 2020 London has held on to the second spot in a respected ranking of global financial centres, closing the gap on New York as investors sought out the relative safety of leading finance hubs amid the coronavirus pandemic. The British capital gained 24 points in the latest Global Financial Centres Index (GFCI), which measures the competitiveness [...]
BoE: Considering the climate would have held back stimulus September 24, 2020 The Bank of England has said it did not attach any climate-related conditions to its major loan scheme as this would have “frustrated” the effort to support companies quickly. However, Bank official Sarah Breeden said that the BoE is “considering” attaching green strings to its future corporate bond purchases. Threadneedle Street has been criticised for [...]
FCA drops BoE audio probe but Bank acknowledges lapses September 23, 2020 The Bank of England “could have identified sooner” the “misuse” of an audio feed of its press conferences after being warned of a potential problem, the BoE’s internal auditor has found. However, the UK’s financial watchdog said it had closed its investigation into Encoded Media, the company at the centre of the storm, saying it [...]
The “homebody economy” – investing in your digital back yard September 23, 2020 It is clear that UK shares are unloved. No likes, no shares, no new friend requests. The level of gloom surrounding this market is remarkable even amongst UK based investors, who, you might think, should feel more comfortable investing here. This is not just pandemic queasiness. Although the UK economy is service-led to some extent, [...]
Government cracks down on loot boxes in bid to curb child gambling September 23, 2020 The government is considering banning controversial loot boxes in video games as ministers seek to crack down on problem gambling among younger generations. The Department for Digital, Culture, Media and Sport (DCMS) is today launching a consultation on the video game features, which gamers can purchase for the chance of receiving randomised virtual items. Ministers [...]
City firms begin to send workers home after new government rules September 22, 2020 City firms have begun to send workers home after the government today told people to begin working from home again where they can. About 1,000 Barclays staff will revert to home working due to the new coronavirus advice, the bank said today. Although around 22,000 employees had remained working from the lender’s offices during the [...]
FTSE 100 climbs despite new coronavirus rules but US stocks mixed September 22, 2020 After plunging yesterday, the FTSE 100 rose despite the UK government imposing new coronavirus restrictions, while US stocks were mixed. The UK blue-chip index was up 0.9 per cent to 5,858 points in afternoon trading. That was down significantly from its opening figure of above 6,000 yesterday, however. The FTSE 250 had risen 0.2 per [...]
Venezuela heads back to court over £800m pot of gold in the Bank of England September 22, 2020 The Venezuelan central bank is heading to court in London today, as it appeals a ruling from over the summer that affirmed the UK’s recognition of Juan Guaido as the country’s interim leader. Banco Central de Venezuela (BCV) has brought a case at the Court of Appeal to decide ownership of a £800m horde of [...]