Man Group bucks investor exodus trend with £2.57bn inflows February 28, 2023 Man Group said investors pumped £2.57bn ($3.1bn) into its funds last year as it bucked an industry-wide investor exodus that has rocked many of its peers. In its full year results today, the London-listed asset manager said flows into its funds had sailed past analysts estimate and topped the industry average by 5.3 per cent, [...]
‘One of the hardest investing years in living memory’: Abrdn swings to pre-tax loss as investors pull £10.3bn from funds February 28, 2023 Abrdn swung to a pre-tax loss last year as investors pulled £10.3bn from its funds in what its chief called “one of the hardest investing years in living memory”. In its full year results today, the FTSE 100 asset manager posted a pre-tax loss of £615m, down from a profit of £1.1bn a year prior, [...]
End of Bank of England £800bn bond buying scheme poses headaches for Treasury and taxpayers February 28, 2023 The magic money tree is shedding its leaves. Over a decade of cheap cash propping up the global economy has been toppled by a once in a generation inflation problem. QE was a necessary response to the batch of shocks ricocheting around the global economy since 2008. Now it’s shifted into reverse. But how did [...]
Shapps looks to win US support for green energy projects in net zero race February 28, 2023 Grant Shapps is hoping to sustain the UK’s role as a major player in the net zero race, and woo his US counterpart with joint projects.
IFS: No room for tax cuts or spending rises at March budget despite Jeremy Hunt pocketing £60bn windfall February 28, 2023 There is no room for tax cuts or spending increases at the 15 March budget despite Jeremy Hunt being handed an around £60bn windfall from lower energy prices and interest rates, a top economic think tank has forecast today. The Chancellor will be held back from handing households and businesses a tax giveaway due to [...]
Brits forced to cut £14,000 off house prices to achieve sale, new data reveals February 28, 2023 Brits are being forced to accept an average cut of £14,000 on the price of their homes to achieve a sale, according to new Zoopla HPI figures.
London businesses sweat over UK recession risk as experts warn on cost of living pressures February 28, 2023 Uncertainty over whether the UK economy will tip into recession this year has led London businesses to sweat over their finances this year, a closely watched survey out today reveals. Optimism among the capital’s companies slid 19 points in February to 18 per cent, arresting a steady upward rise in confidence, according to Lloyds Bank’s [...]
FTSE 100 close: Bunzl and Rolls Royce help London index shrug off interest rate and inflation woes February 27, 2023 London’s FTSE 100 opened the week in positive territory today as investors appeared to shrug off concerns about inflation and how forcefully central banks would respond to it. The capital’s premier index jumped 0.72 per cent to 7,935.12 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Price cap: Government will ‘continue to help’ with high energy bills but falls short of fresh support packages February 27, 2023 The government has stopped short of pledging fresh support - even with customers facing higher bills after today's price cap announcement.
Should we welcome the prospect of the ‘Britcoin’ CBDC? February 27, 2023 Temple Melville believes a 'Britcoin' CBDC has potential as an opportunity for alternative monetary policy and stimulation in the future.