Philip Hammond starts search for successor to Mark Carney as Bank of England governor April 24, 2019 Chancellor Philip Hammond has started the process of finding a new governor of the Bank of England. Whoever he chooses will replace current governor Mark Carney when he steps down at the start of 2020. Read more: Mark Carney warns of "alarmingly high" no-deal Brexit risk The Canadian economist, the first overseas governor of the [...]
A year of two halves? April 23, 2019 Alex Crooke, Fund Manager of the Bankers Investment Trust, explains how the team is preparing for a different investment landscape in the second half of 2019. It’s in our nature as fund managers to continually contemplate about the future, but the level and scope of uncertainty facing investors today is almost unprecedented. What’s disappointing is [...]
UK household earnings rise at sharpest rate in a decade as spending ticks up April 23, 2019 UK household earnings have risen at their fastest rate in a decade and consumers increased their spending in April. The IHS Markit survey also suggested that the current downbeat consumer sentiment could turnaround in the next few months. Read more: Retail and casual dining bounce back in March amid sunny spring weather While spending rose, [...]
No Brexit is now more likely than no-deal Brexit, economists predict April 18, 2019 Britain remaining in the EU is now more likely than a disorderly Brexit, according to a Reuters survey of economists. The poll found that Britain leaving with a free trade deal of some description was still the most likely outcome but Brexit being cancelled jumped above a no-deal scenario into third place in the latest [...]
Radical climate protestors are beginning to resemble a cult April 17, 2019 Climate change is not a fringe issue, nor is it suffering as a topic from a lack of attention. It is taught in schools and debated extensively in the media. It occupies a central position in policy-making and increasingly commands the attention of businesses and the investment community. The governor of the Bank of England, [...]
UK inflation rate holds steady at 1.9 per cent sending Britons’ real wages higher April 17, 2019 The UK’s headline annual inflation rate remained unchanged in March, staying at 1.9 per cent, meaning Britons’ real wages are increasing as pay growth outstrips price rises. Read more: London house price plunge drags down UK-wide growth rate Meanwhile the inflation rate including housing costs and council tax stayed at 1.8 per cent, where it [...]
Businesses must tackle climate change or ‘fail to exist, Bank of England governor Mark Carney warns April 17, 2019 Businesses must tackle climate change or “fail to exist”, Bank of England governor Mark Carney warned this morning. The financial sector has to act on climate-related risks, Carney said in a joint article with French central bank governor Francois Villeroy de Galhau and Network for Greening the Financial System (NGFS) chair Frank Elderson in The [...]
City Moves for 17 April 2019 – Who’s switching jobs at DX Group, Hogan Lovells and Highland Natural Resources? April 17, 2019 Today's City Moves includes DX Group, Hogan Lovells and Highland Natural Resources. DX Group Four decades after founding DX Exchange as a reaction to the postal strikes of the 1970s, Pauline Lyle-Smith has returned to the business as brand ambassador. The move is one of a series of initiatives by DX as it invests in [...]
Monetary policy is too crucial to leave in Labour’s meddling hands April 16, 2019 Even by Donald Trump’s standards, it was an extremely Donald Trump thing to do. Last week, the President nominated Herman Cain for a seat on the board of the Federal Reserve, attempting to hand oversight of the world’s largest economy to a maverick gold-standard enthusiast. The nomination appears to be doomed, largely because of the [...]
Corbyn is as much a threat to the City as a no-deal Brexit April 16, 2019 The Prime Minister is currently on a walking holiday in Wales, while parliament is on Easter recess. This would be a moment for calm, except that Theresa May’s infamous walking holiday in April 2017 ending in her calling an unexpected General Election. Avid Westminster watchers are nervously wondering whether another snap poll is imminent. While [...]