Bank of England official warns UK reliant on ‘flighty’ capital June 18, 2019 A Bank of England (BoE) official has today warned that since the Brexit referendum in 2016 Britain’s economy has become vulnerable to foreign money being withdrawn at short notice. Read more: Bank of England chief economist says rate rise on horizon Anil Kashyap, a member of the Bank’s financial policy committee (FPC), also warned that [...]
Sterling falls to fresh 2019 low as Boris Johnson gathers support June 18, 2019 Sterling has fallen to a fresh 2019 low as Boris Johnson’s leadership bid goes from strength to strength – ramping up the chances of a no-deal Brexit. The pound slid to $1.2514 overnight – its lowest level since 11 December last year – before recovering slightly. Read more: Andrea Leadsom backs Boris Johnson in race [...]
Facebook launches cryptocurrency with backing of Uber, Visa and Spotify June 18, 2019 Facebook has today published the white paper for its widely anticipated cryptocurrency initiative, with the founding support of several major businesses across multiple sectors. Named libra after the Roman unit of measure once used to mint coins, the cryptocurrency will be managed by an independent eponymous association consisting of 28 initial founding companies. Alongside Facebook [...]
Cricket Betting Tips: Jonny B good against average Afghan seamers June 17, 2019 COACH Trevor Bayliss and captain Eoin Morgan must be relatively happy with where their side are after four games of the World Cup. Granted, they’ve played some of the weaker sides in the competition (four of the bottom five in the points table), with even South Africa proving a fairly simple nut to crack. Bar [...]
Stiglitz’s 2020 vision: Left-wing economist makes a pitch for the soul of the Democrats June 17, 2019 Who will take on Donald Trump in next year’s battle for the White House? At the time of writing, an absurdly long list of Democratic hopefuls is dominated by Joe Biden, the septuagenarian former vice president who currently enjoys a huge lead in the opinion polls. Read more: President Trump endorses Boris Johnson as next PM [...]
UK households positive about future finances for first time in eight months June 17, 2019 UK households have turned positive about their future finances for the first time since November last year as wages continue to grow. Financial health expectations for the next twelve months moved into the positive in June, according to the latest IHS Markit household finance index. Read more: UK households set to spend £63.4bn on international [...]
Football’s coming home to the City for the Square Mile’s unofficial club, the Honourable Artillery Company FC June 16, 2019 You could be forgiven for not realising it, but the City of London has its own football club which dates back to the 1800s and is among the leading lights of the amateur game. One reason you might have missed it is because red tape has seen them exiled from the Square Mile for two [...]
Facebook poaches Standard Chartered executive ahead of cryptocurrency launch June 14, 2019 Facebook has hired a senior Standard Chartered executive as it gears up to launch a cryptocurrency and financial services business, according to reports. Standard Chartered’s European head of corporate and public affairs Ed Bowles is set to join the social media giant in September as director of public policy, the Financial Times reported. The role [...]
Why the world economy is like a wobbly bike June 14, 2019 Three months ago we said “the easing in US-China trade tensions, more flexible central banks and the benefits of lower oil prices should stabilise activity later this year and support an upgrade in our global growth forecast for 2020”. However, two of those supports have now fallen away and we are more reliant on looser [...]
MPs brand watchdog’s RBS GRG report a ‘complete whitewash’ June 13, 2019 Furious MPs tore into the City watchdog today, branding its final report into RBS’ disgraced turnaround unit GRG a “complete whitewash”. The Financial Conduct Authority (FCA) had already come under fire for the amount of time it took to publish the report, in which it outlined the reasons for its lack of action against senior bankers within [...]