426,000 first-time buyers could vanish from property ladder by 2027 September 28, 2023 As many as 426,000 fewer first-time buyers in England could get on the property ladder between this year and 2027 compared with the long-term average, a building society predicts. Leeds Building Society, in partnership with specialist advisers WPI Strategy, analysed first-time buyer affordability between 1982 and 2022, and how the challenges of buying a first [...]
Bank of England lays out another round of changes to Solvency II to free up capital September 28, 2023 The Prudential Regulation Authority (PRA) has set out another round of reforms to the Solvency II regime in an attempt to unlock a wave of investment in the UK economy. The UK government set out its plans for a post-Brexit overhaul of the EU’s Solvency II rules in November last year, with a view to [...]
Mark Kleinman: Boardroom pay battle, the mentoring boon and the football funding row September 28, 2023 Mark Kleinman gets the Square Mile talking in his weekly City A.M. column: this week on boardroom pay, the mentoring boom and the football broadcasting row.
Average five-year fixed mortgage rate slides down towards six per cent mark September 27, 2023 The average five-year fixed-rate homeowner mortgage is edging closer to falling back below the six per cent mark, according to figures from a financial information website.
Bank of England delays final Basel bank capital rules to July 2025 September 27, 2023 The Bank of England on Wednesday said it would delay by six months to July 2025 its roll out of the final leg of international bank capital rules that began after the global financial crisis over a decade ago.
Pound on track for worst month since mini-budget as traders rein in bets on rate hikes September 26, 2023 The pound is on track for its worst month since Liz Truss' disastrous mini-budget as traders rein in bets on how high interest rates will go in the UK.
FTSE 100 close: London markets flat as investors digest higher for longer message September 26, 2023 Markets opened lower on Tuesday as markets digested the implications of interest rates having to remain higher for longer.
The Notebook: Victoria Scholar on the future of supermarkets September 26, 2023 Interactive Investor's Victoria Scholar on supermarkets, China's growth and a new podcast in the City A.M. notebook
Lib Dems chase ‘blue wall’ voters by scrapping plan to raise income tax by 1p September 25, 2023 The Liberal Democrats have dropped their plans to raise income tax by 1p in a bid to woo Conservative voters in so-called blue wall seats during the cost of living crisis. Leader Sir Ed Davey told the BBC he ruled out tax rises even on the wealthiest as his party seeks to target former Tories [...]
Interest rates: no rise will be ‘welcome pause’ for banks September 25, 2023 The Bank of England's decision to leave interest rates on hold last week will come as a "welcome pause" to the UK's high street banks, analysts said.