Goldman Sachs to make another round of job cuts as dealmaking slump continues – reports May 31, 2023 Goldman Sachs is considering another round of job cuts over the next few weeks as the drought in dealmaking continues to weigh on performance. According to Reuters, the layoffs – which would total not more than 250 – could include senior figures like partners and managing directors. The news was first reported by the Wall [...]
Will nobody rid me of these troublesome ordering screens? May 31, 2023 It used to be so simple. But now ordering lunch in the City has become an exercise in technological frustration and irrational anger.
Home REIT investigation: investment manager passed over ‘innacurate’ ESG info and had ‘undisclosed’ conflicts of interest May 30, 2023 The former investment manager of scandal-hit property firm Home REIT passed over “inaccurate” information to an ESG inspector and certain top figures had “undisclosed potential business interests” with third parties, a damning internal report has revealed today.
Biden and McCarthy hope to sell Congress on vital debt ceiling deal May 30, 2023 US President Joe Biden and senior Republican Kevin McCarthy will spend this week attempting to convince Capitol Hill legislators to pass a deal to raise the US debt ceiling, which was agreed by the two men over the weekend. One investor hailed the deal as “great news,” minimising the chance of the US government defaulting, but Congress [...]
Analysis: Why US debt ceiling deal might not be good news for global markets May 28, 2023 Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Saturday reached a tentative deal to raise the federal government’s $31.4 trillion debt ceiling, two sources familiar with the negotiations said, potentially averting [...]
UBS number-crunchers predict pound to hit recent high against the dollar May 27, 2023 UBS wonks believe the pound could be trading as high as 1.30 against the US dollar by the end of the year, as the currency continues to recover from Liz Truss and Kwasi Kwarteng’s mini-budget last year. The pound currently trades at 1.23 against the dollar, a far cry from the 2:1 days of yore. [...]
How Wall Street is preparing for worst-case scenario debt default May 26, 2023 Anxiety is increasing in parts of Wall Street that rely on Treasury securities to function, with some traders starting to avoid U.S. government debt that comes due in June and others preparing to deal with securities at risk of default. U.S. President Joe Biden and top congressional Republican Kevin McCarthy are closing in on a deal that would raise [...]
Inflation falls out of double digits to lowest level in a year but tops forecasts May 24, 2023 UK inflation has fallen into single digits but the price of food continues to spiral at the fastest rate in four decades.
The Notebook: Victoria Scholar on the Fed’s new move, Adidas’s Yeezy problem and Shell’s AGM showdown May 23, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Interactive Investor’s Victoria Scholar. After 10 straight hikes, is it now time for a ‘Fed skip’? Forget the hike, pause and cut, the new word to enter the lexicon of central bank watchers is the ‘Fed skip’. US monetary policymakers [...]
Yes, inflation will fall – but back to Bank of England target? Well, that’s anyone’s guess May 23, 2023 Inflation is definitely on its way down, but no thanks to the Bank of England – well, yet. Most of the drop will be driven by energy price rises falling out of the ONS’s numbers. Tomorrow’s figures are poised to start that descent, with the rate of inflation probably falling to around eight per cent [...]