Doubts grow over the UK’s preferred post-Brexit model for financial services June 4, 2018 The government’s preferred post-Brexit trading model for the City remains uncertain amid growing concerns that Brussels is not prepared to compromise. Mutual recognition, the post-Brexit system heavily promoted by the financial services sector as well as Whitehall, has failed to win the support of EU chief negotiator Michel Barnier. One Square Mile source familiar with [...]
The top and bottom performing investment funds in May June 4, 2018 “Sell in May and go away” advises the well-known City adage, which also suggests returning to the market after “St Leger Day”. This is the date in September when the horse race of that name is run and, traditionally, when the summer lull in trading is over. It bears little relevance in the modern era [...]
DEBATE: Will mid-market firms struggle to access finance if banks like Barclays tighten lending criteria? June 4, 2018 Will mid-market firms struggle to access finance if banks like Barclays tighten lending criteria? Jake Wombwell-Povey, chief executive and co-founder of Goji Investments, says YES. Many firms still rely on high street banks for their banking services. Although awareness of alternative providers is growing, traditional lenders are still most companies’ first option, and many rely [...]
Exclusive: Doubts grow over UK’s preferred post-Brexit model for City June 3, 2018 Uncertainty is growing over the City's preferred post-Brexit trading model for financial services, amid growing concerns that Brussels is not prepared to compromise. Mutual recognition, the post-Brexit system heavily promoted by the financial services sector as well as Whitehall, has failed to win the support of EU chief negotiator Michel Barnier. One Square Mile source familiar with [...]
Government denies no deal Brexit plans by civil servants predict “armageddon” June 3, 2018 The government today denied reports that its civil servants have predicted chaos at ports and food, medicine and fuel shortages within a fortnight of a “no deal” Brexit. The massive port at Dover would collapse “on day one”, the leaked government plans from the Department for Exiting the EU reportedly reveal. The three scenarios include [...]
UK Q2 outlook more positive June 1, 2018 Last week European markets posted their first weekly loss since March, breaking a run of eight consecutive weekly gains, raising the prospect that we could be on the cusp of a period of consolidation after a run that has seen the FTSE100 run up from lows of 6,840 in March to a new record high [...]
UK economy looks more positive for the second quarter May 31, 2018 Last week European markets posted their first weekly loss since March, breaking a run of eight consecutive weekly gains, raising the prospect that we could be on the cusp of a period of consolidation after a run that has seen the FTSE100 run up from lows of 6,840 in March to a new record high [...]
Bank of England bitcoin rival would “strengthen” effects of monetary policy changes May 30, 2018 A central bank-run digital currency to rival cryptocurrencies such bitcoin and ethereum could make monetary policy changes a more effective tool, according to Bank of England research. The Bank has recently released a flurry of research weighing the potential risks and benefits of central bank digital currency (CBDC), with the potential to revolutionise monetary policy. [...]
OECD upgrades UK economic growth forecast but warns of global reliance on cheap money May 30, 2018 The influential Organisation for Economic Cooperation and Development (OECD) today upgraded its forecast for UK economic growth but warned that strong global growth is reliant on economic policy rather than sought-after productivity improvements. The British economy will expand by 1.4 per cent this year before slowing to 1.3 per cent in 2019, according to forecasts [...]
Mark Carney has bigger things to worry about than meaningless Brexit forecasts May 30, 2018 The governor of the Bank of England, Mark Carney, is up to his usual tricks. Last week, he claimed in front of the Treasury Committee of the House of Commons that British households are now more than £900 worse off after the vote to leave the EU. The figure was obtained by comparing a forecast [...]