Sterling falls as Bailey suggests Bank could become ‘ more activist’ on rate cuts October 3, 2024 The Governor's comments were seen as slightly more dovish than his previous guidance had implied, prompting markets to anticipate further rate cuts in the months ahead.
Millions set for mortgage payment shock this year October 2, 2024 Mortgagors refinancing over the next year will continue to see a big jump in their monthly repayments.
Moody’s upgrades UK banking outlook as lenders weather falling interest rates October 2, 2024 Credit rating agency Moody's has upgraded its outlook for the UK banking system to "stable" from "negative", expecting lenders' balance sheets to stay resilient to falling interest rates.
Bank of England: Markets need to be prepared for ‘severe but plausible stresses’ October 2, 2024 Officials at the Bank said that the “significant but short-lived spike in volatility and falls in equity indices” seen in early August demonstrated the risks facing global markets.
Smiths News: Distributor’s revenue ticks up after Euros boost October 2, 2024 Leading UK newspaper distributor Smiths News has reported a “resilient” trading performance despite the long-term decline of demand for newspapers. Revenue at the company grew by 1.1 per cent in the 53 weeks to 31 August. The full-year result was despite a revenue drop of two per cent in the first half of the year. Its [...]
Canary Wharf unveils ‘urban oasis’ in historic partnership with the Eden Project October 2, 2024 Canary Wharf has unveiled a groundbreaking biodiversity scheme with the Eden Project, as the banking district goes green to improve workers’ experiences. The first-of-its-kind Eden Dock was unveiled on Wednesday, with the Canary Wharf Group (CWG) describing it as an “urban oasis”. The partnership will improve biodiversity in the area and offer more touch points [...]
The big unknown which will determine the short-term future of the economy October 1, 2024 Consumption has taken a much bigger hit in the UK since the pandemic than in either the eurozone or the US.
Libor: After more than 50 years, tainted benchmark is officially no more October 1, 2024 Libor, the more than 50-year-old benchmark borrowing rate, has officially been phased out after an arduous process kickstarted by a rigging scandal in the early 2010s.
Shop prices fall further into deflation as battle to ‘entice’ consumers continues October 1, 2024 According to the British Retail Consortium (BRC), shop prices fell 0.6 per cent in the year-to-September, down from 0.3 per cent the previous month.
Business confidence takes ‘large dive’ in September as budget fears intensify October 1, 2024 Optimism in the economic outlook fell to its lowest level since 2022.