London house prices: Property prices in Hackney are 17 times the average wage May 12, 2017 How do your local house prices compare with your salary? Unpleasantly? The residents of one London borough are particularly badly affected, new research has shown – and it’s not one of the obvious ones. Yes, it is the trendy borough of Hackney which has the dubious accolade of being the part of the UK with [...]
This is the ‘inconvenient truth’ about investing May 11, 2017 No matter how much some investors might wish it was not so, the biggest driver of whether or not you make money as an investor is the price you pay for an asset, says value blogger Andrew Evans. On The Value Perspective blog, we appreciate not everyone shares our conviction that the biggest driver of [...]
Charlotte Hogg’s resignation as Bank of England’s deputy governor was “disproportionate” to her offence, say Bank directors May 10, 2017 Charlotte Hogg’s departure from her role as the Bank of England’s deputy governor was “disproportionate” to her offence, according to directors of the Bank. Hogg resigned from her role in March following a report by the Treasury select committee questioning her competence for failing to disclose that her brother works for Barclays. Hogg joined the [...]
Bank of England opens way to blockchain for payments but says it is not yet “mature” enough May 9, 2017 The Bank of England has rejected blockchain as the basis for a new payments system, but said it wants to leave the door open for other banks to use the technology to settle transactions. The new payments system will be designed to interface with separate payment platforms underpinned by the distributed ledger technology that underpins [...]
Two-thirds of workers feel unsupported by managers over mental health issues as the City ramps up its efforts to improve | City A.M. May 8, 2017 More than 150 City firms spanning banks, professional services companies and law firms, are teaming up to try and change how mental health in the workplace is dealt with. Thousands of staff in the City of London, and across the UK, will wear green ribbons as part of a campaign, inspired by PwC’s Green Light [...]
With PMI surveys showing a rebound in the services sector, is it too early to call time on UK post-Brexit strength? May 5, 2017 Simon French, chief economist at Panmure Gordon, says Yes. Since last June’s referendum, the UK economy has seen a 12 per cent depreciation in the value of the pound, a loosening of monetary policy from the Bank of England, and a slowdown in the pace of government austerity. The impact of these three changes has [...]
How shares with low yields can pay the most income April 28, 2017 Investors are often tempted to buy shares which promise bumper dividends today, largely because they need the income immediately, perhaps to support early retirement. Those who can wait longer may want to consider an alternative – investing in companies that offer the potential of fast dividend growth. Companies which can grow their dividends rapidly can [...]
Bank of England launches new (voluntary, not legally binding) code of conduct for money market traders April 26, 2017 The Bank of England has launched a new code of integrity for all British participants in the money markets. The code’s guidelines will only be voluntary for traders in markets for deposits, repos and securities lending, so will not be legally binding. The UK Money Markets Code aims to “promote integrity and effective functioning” by [...]
Global banking watchdog will pause for thought before introducing more regulations April 25, 2017 Global banking regulators will pause for two years and take stock of their post-crisis reforms, allowing the sector a chance to catch its breath before any new initiatives are pursued. The Basel Committee on Banking Supervision (BCBS) this evening outlined its strategic priorities for 2017-18. They fell into sections: finalising existing plans and “assessing whether [...]
Andrew Tyrie, chair of parliament’s powerful Treasury watchdog, is standing down as an MP April 25, 2017 Tory MP Andrew Tyrie, who has led cross-party scrutiny of the Treasury since 2010, has decided to stand down at the General Election. Tyrie has led the Treasury Select Committee in a raft of high-profile inquiries into government work, becoming a respected critic of both chancellor Philip Hammond and his predecessor George Osborne. In his [...]