Tony Matharu: Meet the hotelier on a mission to get London back in full force October 14, 2022 From the floor-to-ceiling glass of suite 725 at Tony Matharu’s Tower Suites hotel on a sunny October morning, one can see flocks of tourists heading towards the Tower of London and Tower Bridge. It looks for all the world like London is back on its feet, and for Matharu, that’s no surprise. “Where we sit [...]
Pound slumps against US dollar after Fitch sounds alarm on UK finances October 6, 2022 The pound slumped against the US dollar today while UK debt sold off after one of the world’s top credit rating agencies issued a sombre warning to investors about the country’s finances. Sterling weakened 1.55 per cent against the greenback to buy 1.115. It fell by a slightly smaller amount against the euro too. The [...]
Credit Suisse shares rise as crisis fears settle October 4, 2022 Shares in scandal-sticken lender Credit Suisse rose nearly five per cent this morning as fears of an impending crisis began to settle after a turbulent day of trading yesterday.
From Poll Tax to tampons and 10p rates: Historic U-turns that left governments red faced October 4, 2022 Kwasi Kwarteng was forced into a U-turn on plans to scrap the 45p tax rate yesterday, just ten days after announcing the proposal in his ‘mini-budget’. While undoubtedly embarrassing for the new Chancellor, he is by no means alone in having to rapidly rethink big Budget announcements. City A.M. caught up with AJ Bell head [...]
Letters: Mind your credit score October 4, 2022 [Re: Don’t penalise cash-strapped Brits, FCA warns insurers, 29 September] As interest rates soar, the FCA’s call to lenders to offer borrowers solutions is a stark reminder that consumers’ needs must remain front and centre. Against skyrocketing living costs and a mortgage industry in turmoil, our research shows half of lenders are still using outdated [...]
Credit Suisse shares tumble as investor concerns grow October 3, 2022 Shares in Credit Suisse have tumbled beyond seven per per cent today as a charm offensive by bosses over the weekend failed to reassure investors over the bank’s financial stability.
The Financial Services and Markets Bill – second reading September 29, 2022 Lord Chris Holmes of Richmond explains the government's 335-page Financial Services Bill and what it means for crypto assets.
Pubs and restaurants face ‘widespread business failure’ in absence of energy bill support August 30, 2022 Pubs and restaurants are facing “widespread business failure” in the absence of government support as energy bills swell, hospitality chiefs have said. In a letter to ministers, UKHospitality has warned that tens of thousands of jobs could be lost as the UK enters the colder months, as businesses are hit with increasing headwinds. Writing to [...]
HSBC is overstating Asia demerger cost, Ping An claims August 11, 2022 Britain’s largest bank HSBC is blowing up the financial hit from carving out its Asia business to water down pressure from its biggest shareholder to demerge, sources close to the matter said. Chinese insurer Ping An claimed selling off the high street lender’s highly profitable Asia arm would unlock $35bn (£29bn) in value for shareholders [...]
Aviva hikes dividend and assures £400m takeover nearly over August 10, 2022 Insurance giant Aviva has sought to soothe investor concerns today, confirming that the nearly £400m takeover of Succession Wealth will be completed later this year. The deal is expected to be wrap up in the second half. While its interim dividend for this year has jumped 40 per cent to 10.3p per share – up [...]