International Women’s Day: 12 of the most awesome women in the City March 8, 2017 With International Women's Day upon us, what better time to celebrate some of the City's brightest and best, from business bosses to economists? Here's a run-down of 12 of the most awesome women in the City… 1. Jayne-Anne Gadhia – chief executive of Virgin Money Jane-Anne Gadhia has been chief executive of Virgin Money since 2007 [...]
Why we now expect three US interest rate rises in 2017 March 8, 2017 How fast will US interest rates rise? Keith Wade, chief economist at Schroders, explains why the outlook has changed. With markets seemingly relaxed in the face of a March US rate hike, the Federal Reserve may be emboldened into more rate rises later this year. Following a speech by Fed chairman Janet Yellen last [...]
Spring Budget 2017 at-a-glance guide: All of chancellor Philip Hammond’s big announcements you need to know March 8, 2017 Chancellor Philip Hammond has delivered his first (and last, thanks to a shift around in dates) spring Budget speech. But, as not everybody has the time to go back and listen to his words of wisdom in full, here's an at-a-glance breakdown of the biggest announcements you need to know: Economics, public spending and politics [...]
Budget 2017: UK growth prospects upgraded by government’s forecaster March 8, 2017 The UK economy is set to grow much quicker than previously thought, according to the government's official forecaster, boosting chancellor Philip Hammond's efforts to cut public sector borrowing. The Office for Budget Responsibility (OBR) now forecasts growth of two per cent in 2017, chancellor Philip Hammond announced in his Spring Budget statement, while inflation is [...]
How safe are dividends? March 8, 2017 The income paid by stock market companies to investors could be about to come under pressure. The twice yearly payments made to investors can be a vital income supplement for those in retirement. Others reinvest the dividends to boost long-term returns. But research compiled by Schroders shows European and US companies are diverting a high [...]
Business teaches you how to negotiate: Here’s the Brexit advice I would give Theresa if I was at Number 10 March 8, 2017 As an entrepreneur, I’m naturally optimistic. I’ve always seen the upside in the UK becoming an independent nation, which is why I supported Vote Leave during the referendum campaign. My business career has also taught me some valuable lessons on how to negotiate successfully. If the government is given space to negotiate our exit from [...]
“Inherent conflict of interest” existed in overseeing of Libor, court told in case against two ex-Barclays traders March 7, 2017 A witness from the so-called "voice of banking" told a court today there was an "inherent conflict of interest" in Libor's governance, as trial of two ex-Barclays traders rumbles on. The Serious Fraud Office has claimed Stylianos Contogoulas, 45, and Ryan Reich, 35, played roles in a conspiracy to fix the benchmark rate between 1 June [...]
Charlotte Hogg has apologised for not disclosing her brother’s position at Barclays March 7, 2017 The Bank of England's (BoE) new deputy governor, Charlotte Hogg, has apologised for failing to disclose that her brother worked for Barclays, a potential conflict of interest, before she joined the central bank. Hogg worked as the BoE's chief operating officer from July 2013. Last week, as she started her new role as deputy governor, the Treasury Select Committee questioned her on why she [...]
Big upward revision for UK growth this year from the OECD March 7, 2017 The UK economy will grow much faster this year than previously expected, according to an influential economics organisation, as it revised up forecasts it slashed after the Brexit vote. The Organisation for Economic Cooperation and Development (OECD) raised its projections for 2017 GDP growth to 1.6 per cent, a change of 0.6 percentage points since [...]
Sterling falls to lowest since before Theresa May’s Brexit speech as Lords vote looms March 7, 2017 Sterling fell to its lowest value since mid-January ahead of the resumption of voting in the House of Lords on the government’s bill on Article 50. The pound fell below $1.22 against the US dollar on Tuesday morning for the first time since 17 January, when Prime Minister Theresa May announced the UK would leave [...]