Sir Jon Cunliffe to be replaced by Sarah Breeden as Bank of England deputy governor August 1, 2023 Sir Jon Cunliffe will step down as one of the Bank of England’s chief market watchers later this year, Chancellor Jeremy Hunt has announced on Tuesday. Cunliffe, who was appointed Threadneedle Street’s deputy governor for financial stability a decade ago, will be succeeded by Sarah Breeden, also a long servant at the central bank. Breeden [...]
Gold demand propped up by record central bank buying August 1, 2023 Gold demand has been bolstered record buying from central banks over the first six months of trading this year.
The new London hotel that’s perfect for a west London staycation August 1, 2023 81% of UK holidaymakers are expected to book a UK hotel getaway this year, as the cost of living crisis keeps Brits from booking international trips. If you’re thinking about a London staycation, The Adria in South Kensington has a few things that others don’t. As the pandemic pointed out, holidaying at home – especially [...]
The Global Ecosystem of Insurance August 1, 2023 “Insurance is a three hundred, four hundred, year old industry,” Richard Wheeler, Aon’s co-leader of Global Re Specialty reflects. “But the opportunities ahead still significantly outweigh the journey that the market has been on. Because everything requires insurance.” Wheeler would know. In his role he ranges across global challenges, in the world’s richest and poorest [...]
Green investor Andrew Forrest threatens to quit UK after Sunak pledges new oil and gas August 1, 2023 A major green technology investor has threatened to take his money out of the UK, after the government announced fresh oil and gas licensing.
Crash warning: House prices slump in July as market hits 2009 lows August 1, 2023 House prices have slumped by 3.8 per cent year on year, the latest closely watched figures from Nationwide show, as a season of high interest rates and weak consumer confidence continues to batter the market. The figure is the weakest since July 2009, although it is only slightly lower than the -3.5 per cent recorded [...]
Metro Bank swings back to profit in first half as boss Frumkin claims ‘strategy is working’ August 1, 2023 Metro Bank achieved profitability in the first half of 2023 as the bank’s recovery from an accounting scandal continues. In the first half of the year the retail bank reported a pretax profit of £15.4m, swinging from a loss of £10.5m the year before when the bank faced significant restructuring and write-off costs. The second [...]
Can the Tories reclaim Britain’s towns again? The Red Wall vote is riding on it August 1, 2023 If the Conservatives want to win the Red Wall, they need to fall back in love with towns.
Trade bodies back government’s embrace of North Sea oil and gas industry August 1, 2023 Trade bodies across the energy industry has welcomed the government's decision to support the North Sea's oil and gas sector.
Are central banks to blame for the inflation crisis? August 1, 2023 As we enter what looks like the final leg of central banks’ interest rate rising journeys, it’s as good a time as ever to trace why they have been jolted into action after over a decade of ultra loose policy and whether their response to the inflation crisis has been effective. Coming out of the [...]