Will the BoE inject more stimulus into the UK economy? September 16, 2020 The Bank of England is preparing to announce its latest interest rate decision tomorrow, as it closely monitors the UK economy’s rebound from the record 20.4 per cent contraction in the second quarter. Since then, there have been many positive signs. The economy grew by a huge 8.7 per cent in June and another 6.6 [...]
LGIM set to reopen property fund in October September 16, 2020 LGIM will reopen its property fund in October, seven months after the coronavirus crisis forced it to suspend dealing. In an update today, LGIM said its authorised fund manager, L&G Unit Trust Managers, intends to reopen the property fund and its feeder fund on 13 October. The board is now “confident” in lifting the suspension [...]
Break international law ‘at our peril’, says City of London policy chief September 16, 2020 The City of London’s policy chair has warned the government that it must assure investors that the UK will not break international law over the current Brexit negotiations. Catherine McGuinness said that the alarm around the Internal Market Bill could prove problematic for future investment. Speaking to the PA news agency, she said that Northern [...]
FTSE 100 falls but US stocks rise ahead of Fed decision September 16, 2020 The FTSE 100 fell but US stocks opened higher as investors awaited the latest decision from the US Federal Reserve and digested more economic data. London’s main stock index dropped 0.6 per cent to stand at 6,067 points just before 3pm. The FTSE 250 of mid-cap companies fell 0.1 per cent. Read more: UK inflation [...]
Brexit: Chances of Brexit trade deal ‘fading’, says EU chief September 16, 2020 The UK’s chances of securing a post-Brexit trade deal with the EU are beginning to fade, according to EU chief Ursula von der Leyen. The European Commission President said during a major set piece speech that “with every day that passes, the chances of a timely agreement do start to fade”. Von der Leyen also [...]
EU plans two-year extension of London clearing access September 15, 2020 The European Union is set to tell banks they can continue accessing London’s vital financial infrastructure for 18 more months in an effort to avoid instability when the Brexit transition period finishes at the end of this year. The bloc’s Commission has proposed that lenders’ access to London clearing houses should stay as it is [...]
FTSE 100 and US stocks jump after strong Chinese industrial data September 15, 2020 The FTSE 100 rose sharply and US stocks opened higher as investors reacted well to stronger-than-expected economic data from China. Britain’s main stock index was up nearly one per cent during the afternoon session at 6,085 points. The FTSE 250 index – which is made up of slightly smaller firms – climbed 0.6 per cent. [...]
Coronavirus: Keir Starmer to call for furlough scheme replacement September 15, 2020 Labour leader Sir Keir Starmer will today urge the government to replace the furlough scheme to avoid the “scarring effect” of mass unemployment. The government’s job retention scheme has been used by more than 10m workers since its launch in March, but is set to end on 31 October. Speaking to the Trades Union Congress [...]
Commercial rewilding: How businesses can make Britain beautiful again September 15, 2020 We were all shocked by the weekend’s exploration of the crisis of biodiversity by David Attenborough. Everybody wants to do something, and we know that rewilding is one of the best ways to reverse biodiversity decline. But when people hear the term rewilding they usually have an idea of golden eagles and wildcats being reintroduced [...]
Tax-free shopping: Give the high street the shot in the arm it so urgently needs September 15, 2020 As the Brexit debate rages on, and with the end of the transition period looming, the pressure is on to draw a line under deal talks by the end of October. Much has been made of the potential benefits for UK consumers in the event of no-deal – a Brexit Bonus, if you will. But [...]