Diaries of a fund manager: Jack Hsiao on running a multi-billion pound investment giant January 13, 2023 As 2023 gets under way, the spotlight is firmly on the City and on its fund managers. What will be their next move? How and where do they find inflation-busting assets? Are they opting for more risk or playing it safe? City A.M. checked in with fund manager Jack Hsiao, he is a managing director [...]
UK economy shockingly grows in November on back of World Cup pub boost, raising hopes of shallow recession January 13, 2023 The UK economy expanded in November, smashing downbeat market expectations and signalling the coming recession could be short lived, official figures out today reveal. Gross domestic product (GDP) climbed 0.1 per cent in November, defying analysts’ bets on a 0.2 per cent contraction, the Office for National Statistics (ONS) said today. The expansion was driven [...]
Banning plastic forks will be a headache for hospitality firms January 13, 2023 Banning plastic cutlery is a win for environmental campaigners, but for restaurants battling inflation and rising energy bills, it could create more problems, writes Mark Stefanini
Is a new crypto bull run about to kick off? January 12, 2023 Nigel Green believes confidence is creeping back into crypto, but is there enough evidence to show we're near a bull market?
How We’re Trading US CPI This Week January 12, 2023 Not much action to kick off the week unfortunately, but US CPI on Thursday is probably the reason for that. With markets lying in wait, hopefully that means there are some opportunities to be taken advantage of as we head into it tomorrow. Bigger Picture In the lead up to the release we need to [...]
As US inflation eases off 40-year high, Fed likely to ease off on back-to-back jumbo rate hikes January 12, 2023 US inflation is at its lowest level in 15 months, fuelling speculation the Federal Reserve will step back from further jumbo interest rate hikes in 2023, Official figures out today show the rate of price increases in the world’s largest economy fell to 6.5 per cent in December, down from 7.1 per cent in November, [...]
Premier Inn-owner Whitbread shares rise after robust third quarter January 12, 2023 Premier Inn owner Whitbread saw sales grow 22.9 per cent in the third quarter as Brits turn to budget accommodation options amid looming recession and cost-of-living concerns. The hotel operator reported an increase in demand for sales with accommodation 37 per cent above pre-pandemic levels in the UK and 770 per cent in Germany. Total [...]
Bank of England to hike interest rates to lower peak but still to financial crisis high January 12, 2023 The Bank of England will lift interest rates to a much lower peak than expected just a matter of months ago, but is still set to send them to their steepest level since the financial crisis, City traders suspect. Markets reckon borrowing costs will peak at below 4.5 per cent, meaning investors think the Bank [...]
Persimmon warns of sales slide as interest rate rises push up the cost of mortgages January 12, 2023 Persimmon achieved sales at the top end of its 2022 guidance, despite the mortgage crisis and the wider economic downturn in the second half of the year. The York headquartered company, one of the UK’s largest housebuilders, sold 14,868 new homes last year a rise of two per cent compared to 14,551 in 2021. The [...]
Exclusive: City asset finance chief on how to stay calm amid eye-watering inflation January 12, 2023 Inflation numbers hit record levels in 2022, while the cost of living crisis raged and interest rates went through the roof. Without a doubt, it was – and continues to be – a turbulent and uncertain time for many players in the City and beyond. Time for City A.M. to catch up with Mike Randall, [...]