London businesses increasingly confident they can power UK economy out of recession January 30, 2023 London businesses are increasingly confident they can power the UK out of any recession it gets itself into, a closely watched survey published today reveals. Optimism among the capital’s firms rose at the fastest pace out of any region in the UK this month, jumping 29 points to 37 per cent, according to research by [...]
London £4 trillion stock market sees profit warnings hit financial crisis levels January 30, 2023 Profit warnings issued by companies on London’s £4 trillion stock market surged over the last year, propelled by swelling costs squeezing margins, a new report out today reveals. Against a backdrop of skyrocketing energy prices and slowing demand amid cost of living crisis, businesses have had to tell shareholders to brace for profits to come [...]
The Bank of England is set to raise rates again and we could still face a 2008 crunch January 30, 2023 As the Bank of England prepares to raise interest rates again, Asrif Husain looks at what this volatility does to the financial markets and consumer credit - and the opportunities for investors.
Week ahead: FTSE traders eye Shell and BT results as Bank of England prepares for another rate hike January 29, 2023 London traders are gearing up for a big week of corporate results, with UK giants Shell, BT Group, Glencore, GSK and Vodafone Group updating markets. Shell is due to announce their final results for 2022 on Thursday and are expected to post record profits as oil giants continue to benefit from the global energy boom. [...]
Bank of England, Fed and ECB to heap more pain on global economy – but could peak rates be in sight? January 29, 2023 City traders are gearing up for a week in which the world’s top central banks will heap even more pain on households and businesses by hiking interest rates to tame inflation – but they could send the first signal indicating they will stop doing so soon. The UK, US and eurozone economies are beginning to [...]
Fleet Street site amongst a host of Barclays bank branch closures January 28, 2023 Barclays has announced the closure of 15 branches across the country, meaning over 100 banks are slated to shut down so far this year. The bank is set to close 14 branches across England and one in Wales from late April to the first few days on May. Sites in London, Gosport, Bridgwater and St [...]
The mortgage ‘moron premium’ and why home loans may get (slightly) cheaper despite an expected hike in interest rates January 28, 2023 The Bank of England is expected to increase interest rates next month, making borrowing more expensive for both businesses and individuals. Although the rate decides how much businesses and individuals pay to borrow money, mortgage experts believe that the cost of home loans may actually come down, because the derivatives used by mortgage lenders have [...]
The best cut is inflation: Hunt hits back at recession ‘declinism’ but appears to rule out tax cuts in March budget January 27, 2023 Jeremy Hunt today hit back at gloomy assessments about the UK’s economic prospects but told voters not to expect tax cuts at the March budget. In a speech at Bloomberg, the chancellor said “declinism about Britain is just wrong” adding that the economy has actually grown faster than fellow G7 nations France, Italy and Japan. [...]
Bank dealmaking slumped to a five year low in 2022 – will it rebound this year? January 26, 2023 Mergers and acquisitions involving Europe’s top lenders slumped to their lowest level in five years last year as aggressive moves by central banks spooked dealmakers, new research has revealed.
A CBDC ‘digital pound’ looks on the cards, despite concerns from Bank of England chief January 26, 2023 The winds of fortune appear to be turning in a favourable direction for the prospect of creating a digital pound, despite the best efforts of the Bank of England’s Governor to nip the idea in the bud. Andrew Bailey (pictured), who has held the position of Governor since 2020, recently put the boot in on [...]