British firms set for M&A buying spree despite uncertain outlook November 6, 2017 British businesses are poised to launch a buying spree on a scale not seen for almost a decade, buoyed by forecasts of rising profits – despite political and economic uncertainty. Some 60 per cent of British companies surveyed by accountants EY are planning acquisitions in the course of 2018, a nine percentage point rise since [...]
Brexit and the City: Unpicking 10 myths that refuse to die as the City grapples with the vote to leave November 6, 2017 More than a year after the vote to leave the European Union, the debate is still raging over the potential impact of Brexit on the City of London – although it is often dominated more by heat than light. This is a short attempt to put some of the zombie myths from both sides of [...]
Rivals PwC Deloitte and EY circle KPMG’s position as Bank of England auditor November 4, 2017 The Bank of England is reportedly seeking a new auditor, in a move which could see it part company with KPMG. Rivals are gearing up to take the role from KPMG according to Sky News. The firm has been the auditor for the central bank for a decade, having been brought in just before the [...]
The FTSE 100 just closed at a record high as the pound bounced November 3, 2017 Despite a decidedly slow day of trading, the FTSE 100 closed at a record high today, finishing at 7,560.35 points. The index was pushed higher by NMC Health, which rose 4.2 per cent, and the Coca-Cola Hellenic Bottling Company, which rose three per cent. However, the index itself only mustered a 0.07 per cent rise. [...]
Services PMI: Pound sterling rises against the dollar and the euro as services sector beats expectations in October November 3, 2017 The pound edged slightly higher this morning after new figures showed the UK’s dominant services sector smashed expectations in October. IHS Markit’s purchasing managers’ index (PMI) for services rose to 55.6 in October, two full points above the previous month’s reading and well above expectations of a fall to 53.3. Any figure above 50 denotes [...]
Deputy governor of the Bank of England Ben Broadbent says more rate rises are on the way November 3, 2017 Deputy governor of the Bank of England said that more rate rises are on the cards. The bank increased its base rate for the first time in 10 years yesterday and upgraded its forecast for UK GDP in 2017. Read more: The pound is still wobbly after yesterday’s interest rate hike Broadbent has said this [...]
Pound sterling edges even lower against the dollar and the euro after yesterday’s interest rate hike (GBP USD EUR) November 3, 2017 The pound weakened against the dollar again in early trading, after it plummeted in the aftermath of yesterday’s Bank of England interest rate hike. Sterling edged 0.1 per cent lower against the dollar, to $1.3049, although it was flat against the euro, at €1.1206. The currency fell by two cents against the dollar yesterday, after [...]
UK investors expect returns of 8.7% over the next five years November 2, 2017 UK Investors expect an average annual return of 8.7 percent on their investments over the next five years, according to a major study. The Schroders Global Investor Study (GIS) 2017 found 58 percent of UK investors expected to make an average return of up to 10% over the next five years. Just under a third [...]
Bank of England raises interest rates – are there more hikes to come? November 2, 2017 The Bank of England’s (BoE) monetary policy committee (MPC) has raised interest rates for the first time since November 2007, in a move that has been well-flagged in recent months. The policy interest rate has been raised from a record low of 0.25 percent back to 0.50 percent, where it sat for most of the [...]
Pound sterling (GBP) plunges against the dollar (USD) and euro (EUR) as Bank hikes interest rates November 2, 2017 The pound dropped dramatically by almost one per cent against the dollar in the moments after the Bank of England raised the base rate for the first time in 10 years. Sterling fell 0.91 per cent against the dollar, and 1.32 per cent against the euro after the central bank’s decision was announced. Seven members [...]