US Federal Reserve to back up monster rate hike with another 75 basis point move July 25, 2022 The US Federal Reserve will back up its monster rate rise last month with another big 75 basis point hike this week as it chases down scorching inflation across the pond. That’s according to Wall Street analysts, who think Fed chair Jerome Powell and the rest of the federal open market committee (FOMC) will need [...]
Number 10 says Dover border chaos ‘not necessitated’ by Brexit July 25, 2022 Downing Street has said travel chaos at the Dover port over the past few days has not been “necessitated by leaving the European Union”. Boris Johnson’s official spokesman said “there are changes following leaving the European Union which we recognised and which we have planned for”, but that the long queues at Dover were not [...]
Crypto AM Daily in association with Luno July 25, 2022 Bitcoin steady at $22k ahead of US interest rate decision
HS2 is a ‘killer whale’ for next PM, says cabinet minister July 24, 2022 The HS2 rail project will be a “killer whale” for the next UK Prime Minister and “could “rip the arm” off their administration, according to Cabinet Office minister Kit Malthouse. Malthouse urged Rishi Sunak and Liz Truss to ensure “we’ve got the risk assessed properly” on the near £100bn high speed rail line that will [...]
Centrica granted licence to reopen UK’s largest gas storage site as winter crisis looms July 21, 2022 Centrica has been awarded a licence to reopen the UK's largest gas storage site, boosting plans to shore up domestic energy supplies ahead of winter.
Government’s plans for Solvency II shakeup will force insurers to hold more capital on their books, sector warns July 21, 2022 Insurers have called on the UK government to reconsider their plans to shake up the Solvency II rules that govern the country’s insurance sector, after warning the current plans could backfire. The government’s current plans to reform the European Union’s Solvency II regulations could see life insurers forced to hold more capital than they are [...]
Franco Manca owner’s revenue soars over 100 per cent with post-lockdown demand July 21, 2022 Revenue at Fulham Shore, which owns Franco Manca and The Real Greek, has soared more than 100 per cent in the post-lockdown march back to restaurant dining. The London-listed hospitality giant mas made an operating profit of £6.7m in the year to 27 March, swinging from a £4.8m loss in 2021. Fulham Shore has unveiled [...]
Hasta la vista! Boris waves goodbye but casts a shadow for his successor July 21, 2022 THERE’S always an awkward moment when you start a new job, and someone comes round asking you to contribute to a collection for someone you barely know. That moment came unusually quickly for the dirty double dozen that Boris Johnson shuffled into the Cabinet room, with ministers who had been serving him for less than [...]
FTSE 100 loses Wall Street bounce as banks falter July 20, 2022 A boost from a bumper day on Wall Street yesterday was not enough to help London’s FTSE 100 finish higher today. The capital’s premier FTSE 100 index shed 0.44 per cent to close at 7,264.31 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added [...]
Boris Johnson urges next PM ‘not to always listen to Treasury’ in parting shot at Rishi Sunak July 20, 2022 Outgoing Prime Minister Boris Johnson said big infrastructure projects would not have been built “if we’d always listened to the Treasury” in an apparent parting shot at his former chancellor Rishi Sunak. The Prime Minister gave some “words of advice” to his successor during his final Commons appearance, which included: “Cut taxes and deregulate wherever [...]