FTSE roundup: Easyjet soars while housebuilders (Berkeley) temper blue chip index gains March 16, 2018 The FTSE 100 index has ended the day up 0.34 per cent, as Easyjet continued to climb after directors scooped up shares earlier this week. However the FTSE 100’s close, at 7,164 points, was substantially lower than last Friday’s close of 7224 points. BP helped to nudge the blue chip index up during the day, [...]
Bank of England says Brexit talks are moving in the right direction – but “material risks remain” March 16, 2018 The Bank of England today said “progress” in mitigating the impact of Brexit on the City has been made over the last few months. However, its Financial Policy Committee (FPC) warned “material risks remain” and called for officials in Westminster and Brussels to their game. Last November the Bank of England said Brexit risks did [...]
No country for rugby men? How tiki-taka philosophy put Spain on the cusp of Rugby World Cup glory March 15, 2018 Former flanker turned Hollywood star Javier Bardem once described playing rugby in Spain as “like being a bullfighter in Japan”. Despite its proximity to the relative European rugby powerhouses of France and Italy, the sight of a cauliflower-eared back rower in the land of Real Madrid and Barcelona would be as incongruous as a traditionally-clothed [...]
Will the number of listed law firms double over the next 12 months? March 15, 2018 When previously unfashionable Birmingham law firm Gateley listed on London’s AIM market on 8 June 2015, hundreds of years of legal tradition were undone, as members of the public were able to buy shares in a law firm for the first time. While this was undoubtedly a seminal moment for the English legal market, Gateley’s [...]
Investment banking worst for your health says giant survey of British bank employees March 15, 2018 Investment bankers think their jobs are the more damaging to their health than their counterparts in business or retail lending, according to a massive survey of British bank employees. Some 29 per cent of investment bank employees said their job is having a negative impact on their wellbeing, a poll of more than 36,000 bankers [...]
What does recent market volatility mean for bonds? March 14, 2018 Markets were hit by the highest levels of volatility recorded in nearly a decade last month, fuelled by better than expected inflation data and a subsequent spike in global bond yields in January. After the spike in bond yields in January, February’s price action was a bit more measured. Total returns in the core government [...]
Google follows Facebook clamping down on cryptocurrency ads March 14, 2018 Google is to follow Facebook and take action against cryptocurrency ads in a crackdown on “unregulated or speculative financial products”. The move follows an earlier decision by Facebook which banned such ads in January after finding that too many of its customers were being misled by cryptocurrencies such as bitcoin. In a blog post published [...]
Spring Statement: Spring is finally in the air, but the chancellor is right to play it safe March 14, 2018 The Spring Budget may have been downgraded to a mere Statement – with all fiscal announcements reserved for the November Budget – but yesterday’s speech by the chancellor still gave some useful insights into what to expect during 2018. So too did the revised forecasts from the Office for Budget Responsibility (OBR) that accompanied the [...]
Why we don’t expect a UK interest rate rise until November March 13, 2018 Forecasts for UK interest rates have moved significantly. The Bank of England, which ordered an increase from 0.25 per cent to 0.50 per cent in November, has signalled that it is ready to raise rates faster than previously thought. The Bank’s closely watched quarterly Inflation Report, published last month, pointed to the prospect of excessive [...]
Spring Statement: Here’s how economists reacted to Philip Hammond’s economic update March 13, 2018 Chancellor Philip Hammond today gave Parliament an update on the British economy based on new forecasts which show slightly lower government borrowing this year. The Office for Budget Responsibility said borrowing will hit £45.2bn in the 2017-18 fiscal year, falling steadily to £21.4bn by 2022-23, the end of the forecast period, although the cyclically adjusted [...]