Manx Financial Group shares jump after subsidiary secures UK banking licence October 16, 2023 Manx Financial Group shares rose on Monday after the financial services company announced that its banking subsidiary Conister Bank received a licence to take deposits in the UK. The decision marks the first time an Isle of Man-based bank has been granted a UK branch deposit-taking licence. Manx said the bank can now accept deposits [...]
Bank of England’s Huw Pill: Interest rates must remain high to tackle ‘persistent’ inflation October 16, 2023 Markets doubt whether a further rate hike will be necessary, but Pill reiterated that the Bank "still has some work to do in order to get back to two per cent".
UK to avoid recession despite Bank of England interest rate rises, EY predicts October 16, 2023 The UK will avoid a recession despite the impact of the Bank of England's interest rate hikes, new forecasts from the EY Item Club say.
Why a new Edinburgh fund is putting £100m into firms outside of London October 16, 2023 A new venture fund backed by the state-owned British Business Bank has launched in Scotland today with the aim of rebalancing start-up investment away from London towards the north of the UK.
Inflation to continue falling despite rising energy prices, experts predict October 15, 2023 Falling food prices are expected to help bring down the annual rate of inflation in September.
Insolvencies will keep rising for ‘foreseeable future’ under burden of Bank’s high interest rates October 13, 2023 Insolvencies climbed 17 per cent on last year in September as companies struggled under the burden of the Bank of England's interest rate hikes.
FTSE 100 close: London markets fall deeply into the red after Bailey’s hawkish comments on interest rates October 13, 2023 The FTSE 100 managed to eke out some gains thanks to its oil giants, who benefited from rising oil prices.
Interest rates: Higher borrowing costs to dent mortgage lending further, banks report October 12, 2023 The rate of defaults is expected to increase as customers struggle under the weight of higher borrowing costs.
Recession, rates and growth: Three things today’s GDP figures tell us about the health of the UK economy October 12, 2023 Although the UK economy returned to growth in August, a recession may still be on the cards.
GDP: Strong services sector sees UK economy return to growth in August October 12, 2023 The UK economy matched expectations in August, with GDP edging up 0.2 per cent