Mark Carney misses the cut for IMF top job shortlist July 30, 2019 Bank of England governor Mark Carney has failed to make it on to the shortlist of candidates to lead the International Monetary Fund (IMF), according to reports. Read more: IMF chief Christine Lagarde among surprise picks for EU top jobs Negotiations to find a European Union candidate are being led by France, which has narrowed [...]
Neil Woodford’s flagship fund to stay frozen until December July 29, 2019 Beleaguered fund manager Neil Woodford has apologised to investors after the announcement that his flagship Equity Income Fund will remain suspended until at least December. “I understand the frustration, inconvenience and anxiety the continued suspension of the fund will be causing you and I am extremely sorry for putting you in this situation,” Woodford said [...]
UK mortgage approvals rise but consumer lending slows July 29, 2019 Britain’s housing market received a modest lift in June as mortgage approvals increased by more than analysts had expected, Bank of England figures showed today. Read more: UK mortgage approvals hit two-year high following Brexit extension Annual lending growth to UK consumers slowed from 5.7 per cent in May to 5.5 per cent in June, [...]
What are the banks doing to help survivors of financial abuse? July 29, 2019 Money ultimately brings us freedom, so what if your partner were to restrict access to your income or bank account? It’s not uncommon for perpetrators of domestic abuse to manipulate their partners through money in this way – in fact, according to Women’s Aid, a third of survivors say that their access to cash during [...]
Championship favourites Fulham ‘cautiously optimistic’ of bouncing back to Premier League July 28, 2019 A year ago Fulham were about to embark on a keenly anticipated return to the Premier League with the full weight of billionaire owner Shahid Khan behind them. They had been promoted via the play-offs, but a 23-match unbeaten run, football that Pep Guardiola would have been proud of and an injection of cash for [...]
Shares in publisher Relx drop as growth falls short of expectations July 25, 2019 Shares in academic analytics firm Relx dropped as much as five per cent in early trading after it missed expectations for half-year revenue growth. Relx, which also runs exhibitions such as Comic Con, posted a three per cent rise in revenue to £3.9bn in the six months to the end of June, while profit before [...]
Former banker Sajid Javid’s first job as chancellor? To stand up to Boris Johnson July 25, 2019 Analysts at Deutsche Bank triggered sighs across the City yesterday with an attempt to coin the term “Borisnomics”. The portmanteau, as clunky as the new Prime Minister’s debut speech on the steps of Downing Street, is unlikely to catch on – but whatever we call it (Bojonomics, Johnsonomics…) how should we judge Boris Johnson’s likely approach [...]
Eurozone relapses as manufacturing downturn deepens July 24, 2019 Economic woes have deepened in the Eurozone as the manufacturing downturn hit a three-month low for July, according to a closely-followed measure of the industry’s health. Manufacturing output relapsed to fall to a score of 51.5 this month after two months of growth, IHS Markit’s Flash Eurozone Purchasing Managers’ Index (PMI) found today. Read more: [...]
BoE chief economist cautions against interest rate cut with employment strong July 23, 2019 Bank of England chief economist Andy Haldane has said he would be “very cautious” about cutting interest rates in the near future as the economy is stronger than it appears. Read more: Banks can cope with no-deal Brexit but risks remain, says BoE Speaking in Scunthorpe today he said low unemployment and relatively high consumer [...]
City law firm Simmons & Simmons buys legal engineering startup to turbocharge Libor replacement July 23, 2019 City law firm Simmons & Simmons today said it had acquired legal engineering firm Wavelength to help its clients on large projects such as the replacement of Libor. Wavelength describes itself as the first regulated legal engineering business in the world. Its chief executive Peter Lee said Wavelength applies data science, technology and design to [...]