Fintechs back digital pound arguing it will boost innovation and competition October 1, 2023 Fintechs are excited by the potential of a so-called digital pound arguing it will help spur innovation in the UK and create a more competitive payments environment.
Rising interest rates weigh on business confidence but glimmers of hope remain October 1, 2023 Business confidence remained subdued in September as the impact of rising interest rates weighed heavily on economic activity.
House sales fall by 16 per cent amid increase in mortgage rates – as industry looks at shoots of recovery September 29, 2023 The number of house sales fell by 16 per cent in August compared with the same month a year earlier, according to provisional HM Revenue and Customs (HMRC) figures. An estimated 87,010 home sales took place across the UK last month, which was 16 per cent lower than in August 2022 but 1% higher than [...]
Mortgage and remortgage approvals fall as higher interest rates hits property market September 29, 2023 New mortgage approvals fell to the lowest level in six months while approvals for remortgaging plummeted as rising interest rates dented the mortgage market.
Calls made to reinstate minister for pubs as sector faces closure fears September 29, 2023 Fresh calls have been made for the reinstatement of minister for pubs role in the UK, amid a challenging period for the sector as it continues to face inflationary headwinds and rising closures. It comes as part of a new report by think tank Localise – commissioned by the British Beer and Hospitality Association (BPPA) [...]
Business confidence takes a dip in September – but analysts say not to worry September 29, 2023 Business confidence has fallen to 36 per cent this month, nearly five per cent below what was recorded in August.
Bank of England seeks more ammunition to deal with financial instability after LDI crisis September 28, 2023 The Bank of England is in the process of designing lending tools that allow it to lend directly to insurance firms and pension funds after the near-death experience of the LDI crisis in 2022.
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.