The UK is a financial world leader, so why are our numeracy levels so poor? May 21, 2025 Poor numeracy skills have real financial consequences. If the City is to remain a financial powerhouse, we must address the nation’s deteriorating maths, writes Andy Haldane on National Numeracy Day Financial services is a numbers game. Success in finance requires mastery of a wide range of skills, professional and interpersonal. But without a command of [...]
Government debt sale delayed over ‘Bloomberg system issues’ May 21, 2025 An auction of UK government debt was delayed on Wednesday after a Bloomberg system outage prevented traders from participating. In a statement the UK’s Debt Management Office (DMO) said: “Due to the ongoing market-wide Bloomberg system issues, the bidding window for this morning’s auction of 4 per cent Treasury Gilt 2031 is being extended.” A [...]
London house price growth cools as rents continue to climb May 21, 2025 Annual house price growth in London was just under one per cent in April, although rents continued to climb above the national average. Average house prices in the UK as a whole increased by 6.7 per cent £296,000 in England in the 12 months to April 2025, according to new data from the ONS. Prices [...]
UBS creates AI tool to monitor interest rate cuts May 21, 2025 UBS has created an AI model that takes a view on central bank’s hawks and doves when interest rates are set in a bid to cut through the noise of hard-to-read press conferences. In a new policy paper spanning 38 pages, the Swiss bank revealed that its new tool is adept at “measuring the tone [...]
Reeves’ taxes push inflation to 3.5 per cent in ‘Awful April’ May 21, 2025 Inflation bounced back up to 3.5 per cent in April, official data has revealed, underlining the cost burden firms are taking on after Chancellor Reeves’ tax hikes on employers and rise to the national living wage came into effect. Consumer price inflation rose by 1.2 per cent on a month-on-month basis, higher than the last [...]
Firms must be at heart of red tape overhaul, CBI boss says May 21, 2025 The government’s efforts to slash red tape and regulation in a bid to boost growth are doomed to fail if they do not consult the very firms that “live and breathe” the UK’s regulatory barriers, according to the boss of Britain’s largest lobby group. In a speech at Singer Capital Markets, Rupert Soames, president of [...]
Fairway Capital and Investec shine at Alfred Dunhill Padel Classic May 20, 2025 Hurlingham Club in west London enjoyed large crowds this month as the Alfred Dunhill Padel Classic saw Fairway Capital win the Team Championship and investment bank Investec win the Plate competition. The Fulham competition raised funds for Laureus Sport for Good, and saw the likes of Peter Crouch take part alongside Champions Cup rugby sponsors [...]
Reeves’ risky borrowing policies prompt fresh tax hike fears May 20, 2025 Tax hike fears are gathering pace as rising borrowing costs are set to wipe out around half of Chancellor Rachel Reeves’ small £9.9bn headroom, a leading economics consultancy has warned. Reeves made around £14bn in spending cuts at her Spring Statement two months ago but left herself with one of the slimmest fiscal buffers on [...]
Interest rate cuts need to slow down to curb inflation, says Huw Pill May 20, 2025 Interest rate cuts are fuelling inflation and need to slow down, the Bank of England’s chief economist Huw Pill has warned ahead of the release of fresh data set to show a jump in price growth in April. The Bank‘s Monetary Policy Committee (MPC) voted by a slim majority to cut interest rates to 4.25 [...]
OBR ridiculed for ‘joke of a salary’ in analyst job offer May 20, 2025 The UK’s fiscal watchdog has been ridiculed for offering a “joke of a salary” after advertising for new roles. The Office for Budget Responsibility is hiring for three new “fiscal analysts” based in London with a salary range of just £38,430-52,000, despite the jobs being graded a “higher executive officer” function within the organisation. The [...]