Bank of England and Fed to ignore Credit Suisse chaos and hike interest rates this week March 21, 2023 The Bank of England and US Federal Reserve are this week expected to ignore the on-going financial market chaos which resulted in Credit Suisse being pawned off in a shotgun sale and hike interest rates. City analysts have tipped Fed Chair Jerome Powell and Bank Governor Andrew Bailey to prioritise fighting inflation instead of shielding [...]
UK borrowed record £16.7bn for February but Jeremy Hunt handed interest bill boost March 21, 2023 The UK borrowed a higher than expected £16.7bn in February, a record for that specific month due to the government spending billions on helping families with the cost of energy bills, official figures out today reveal. Office for National Statistics (ONS) numbers indicate Chancellor Jeremy Hunt’s decision to cap typical household energy bills at £2,500 [...]
Have Brits fallen out of love with DIY? B&Q and rival Wickes eye lower profits after costs soar and demand dwindles March 20, 2023 B&Q owner Kingfisher and rival Wickes are set to reveal falls in profits over the past year as surging costs dampen the outlook for the home improvements market. Kingfisher, which runs B&Q and Screwfix, has previously indicated its sales and profits have weakened over the past year, as it also saw DIY demand from locked-down [...]
Fed set to hike rates by 25 basis points despite turmoil in US banking sector March 20, 2023 The Federal Reserve is expected to raise interest rates for the ninth time in a row later this week despite widespread instability in the US banking sector. According to Fedwatch there is a 62 per cent chance that the Fed will opt for a 25 basis point hike and 38 per cent chance that it [...]
Investec profits set for £100m hike with bank latest to enjoy a boost from rising interest rates March 16, 2023 Banking and wealth management group Investec said it would report a significant increase in profit compared to last year, with rising interest rates boosting the firm’s bottom line. Releasing a statement ahead of the bank’s year-end on 31 March, Investec expects to report an adjusted operating pretax profit of between £782.8m and £833.6m. Last year’s [...]
OPEC forecasts boost in China oil demand after SVB collapse sparks crude price tumble March 14, 2023 Chinese demand should bolster the oil market, even as crude prices tumble following the collapse of Silicon Valley Bank, says OPEC.
Aramco ramps up fossil fuel spending as oil and gas firms ease off green agenda March 14, 2023 Saudi Aramco shows no signs of pivoting to a greener future, and is targeting a further ramp up in oil and gas prices.
Oil prices: Why black gold could spike on flagging OPEC supply levels March 13, 2023 Oil prices will be supported by the combination of strong demand this year and flagging OPEC production levels, Investec predicts.
Celebrating the Square Mile: Full list of winners at City A.M. Awards 2023 March 2, 2023 The great and the good of the Square Mile gathered for the annual City A.M. awards in the Guildhall on Thursday evening. The winners – drawn from right across the City – were rightly feted, having gone through a rigorous shortlisting and judging process to stand on the stage with host Julia Streets and City [...]
The City A.M. Awards: A glittering night in the Square Mile March 2, 2023 The great and the good of the Square Mile gathered at the Guildhall on Thursday night for the annual City A.M. awards – with Aviva boss Amanda Blanc walking away with the coveted ‘personality of the year’ award. Blanc’s award came at the end of an evening of celebrations and speeches – with the afterparty [...]