UK borrowed record £16.7bn for February but Jeremy Hunt handed interest bill boost March 21, 2023 The UK borrowed a higher than expected £16.7bn in February, a record for that specific month due to the government spending billions on helping families with the cost of energy bills, official figures out today reveal. Office for National Statistics (ONS) numbers indicate Chancellor Jeremy Hunt’s decision to cap typical household energy bills at £2,500 [...]
European markets to open higher after Credit Suisse drama as investors split on central bank rate hikes March 21, 2023 European markets are set to open higher on Tuesday as investors bet that banking turmoil will put a halt to central banks’ battle to contain inflation The FTSE and Frankfurt’s DAX were called up 0.59 per cent while the CAC in Paris was called up 0.47 per cent. After the drama of the past few [...]
FTSE 100 closes up as investors hope Credit Suisse deal will contain banking crisis March 20, 2023 Markets managed to shrug off turmoil in the banking sector to finish the day higher despite huge turmoil in the financial sector. The FTSE 100 closed 0.93 per cent higher at 7,403.85 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.13 per cent [...]
UBS and Credit Suisse face legal threats after bond wipeout and shareholder bypass March 20, 2023 UBS and Credit Suisse are facing potential legal action from investors after the controversial tie-up between the two banks bypassed a vote by shareholders and wiped out $17bn of Credit Suisse bonds.
Will Bitcoin break $35,000 this month? March 20, 2023 Nigel Green highlights key pillars that could bolster Bitcoin's efforts to continue its upward pattern and potentially hit $35k this month.
Bank of England confirms AT1 bondholders priority over shareholders as it proclaims UK banks ‘safe and sound’ March 20, 2023 The Bank of England confirmed the pecking order in which investors would be paid out if a bank went bust as it sought to reassure markets about the stability of the UK’s financial system. In a statement released today, the UK central bank confirmed that alternative tier 1 (AT1) bondholders would be prioritised over shareholders [...]
Exclusive: Renters face being pushed out of London as landlords struggle to cope with ‘huge’ mortgage hikes, adviser warns March 20, 2023 Landlords in London and the south east are facing a 125 per cent increase in monthly mortgage payments, or £574 on average, according to research exclusively shared with City A.M. The Bank of England’s decision to raise interest rates 11 times over the last 15 months has seen mortgage costs spiral for mortgage borrowers. Earlier [...]
Job Hunting? Three In-Demand Jobs In London This Week March 20, 2023 The London labour market is starting to cool, although we’re not quite facing the big freeze that many analysts had predicted––at least not yet. According to the latest Office for National Statistics (ONS) figures, vacancies across the UK dropped in the three months to December 2022 (the sixth consecutive fall), but remained elevated at 1.16 [...]
What The Best Companies in The City of London are Doing to Save Money March 20, 2023 In the competitive business market of London, companies are looking for any advantage they can find to save money and stay ahead. One of the most popular options for companies wanting an office in London is to utilise non-traditional commercial real estate, such as serviced offices. Traditional office space is a huge investment Traditional office [...]
Analyst: Why Chancellor Jeremy Hunt has less headroom than he thinks on the public finances March 20, 2023 THE OFFICIAL Treasury watchdog may be repeating its mistake of over-estimating UK growth, Deutsche Bank analysts have warned, with the forecasting miss potentially wiping out Chancellor Jeremy Hunt’s spending power in years to come. In forecasts published by the Office for Budget Responsibility last week, the watchdog said it expected UK GDP groth to settle around 1.75 [...]