Lenders expect further rise in mortgage defaults in coming months July 11, 2024 UK lenders are expecting a further jump in default rates on home loans in the coming months, according to a Bank of England survey, as mortgage holders face higher refinancing costs.
Omega: Kitchen maker says slip into the red was ‘outside its control’ July 11, 2024 British kitchen maker Omega has slipped into the red following a year marred by challenges "outside the company's control", according to newly-filed documents.
Mark Kleinman: Water sector’s goodwill will evaporate under Labour July 11, 2024 Mark Kleinman is Sky News’ City Editor and is the man that gets the City talking in his fortnightly City A.M. column. This week he writes about the new government’s plans for water firms, housebuilders and Schroders The moment has arrived. By the time City AM readers set eyes on today’s newspaper, Ofwat, the water [...]
Who’s who in Labour’s new look Treasury and business teams? July 11, 2024 Post-election and cabinet appointments, we’ve rounded up who's who in the government's new-look Treasury and business top teams.
Bank of England’s top economist Huw Pill ‘uncomfortable’ with persistence of inflation July 10, 2024 In a speech delivered at Asia House in London, Pill said that recent pieces of economic data pointed towards some "upside risks to my assessment of inflation persistence".
HSBC to revamp investment bank to look more like Citi July 10, 2024 HSBC is reportedly reshaping segments of its investment banking arm, following in the footsteps of rivals like Citigroup.
JD Wetherspoon: Tim Martin on a ‘gradual recovery’ and Reeves’ plans for pubs July 10, 2024 Labour costs have increased by £164m in this financial year compared to 2019, while energy, repairs and interest costs have risen by £28m, £38m and £16m respectively.
Reeves under pressure to shift the dial on pension investment July 10, 2024 Rachel Reeves and Labour will be tasked with driving through the so-called Mansion House compact and unlocking pension cash.
Business confidence rises to highest level in two years but concerns over costs remain July 10, 2024 "These figures suggest that businesses shrugged off any distraction caused by the general election, as lower inflation and stronger expected sales growth drove an encouraging uptick in confidence in the second quarter," Suren Thiru, ICAEW economics director, said.
UK bank staff numbers see biggest jump in a decade as sector outperforms Europe July 10, 2024 The number of staff employed by UK banks saw its biggest increase in a decade last year, new data shows, as headcount returned to pre-pandemic levels and lenders enjoyed record profits.