Crypto narratives: Industry comes to Turkey’s aid, and SEC moves against staking February 13, 2023 CryptoCompare data has shown that there was a 2.7% drop in the combined market cap dominance of BTC, ETH, and stablecoins.
Brexit delivered £1,000 blow to every UK household, Bank of England rate setter Haskel claims February 13, 2023 The sharp reduction in business investment after Brexit has dealt a £1,000 blow to every UK household, a rate setter at the Bank of England has claimed. Speaking to The Overshoot, Jonathan Haskel, an external member of the monetary policy committee (MPC), said that the “productivity penalty” caused by a huge drop in capital spending [...]
Nat Sciver-Brunt banks biggest salary in English women’s cricket after being signed in Women’s Premier League auction February 13, 2023 All-rounder Nat Sciver-Brunt has landed what is thought to be the biggest contract in the history of English women’s cricket after being signed for the inaugural Women’s Premier League in India. Sciver-Brunt and spinner Sophie Ecclestone both secured six-figure deals at the Women’s Premier League auction today. Sciver-Brunt was sold to Mumbai Indians for 3.2 [...]
Sharp under pressure to quit BBC after report finds ‘significant errors’ over Johnson loan February 12, 2023 BBC chairman Richard Sharp has been told that his position is “increasingly untenable” today after a report found that “significant errors of judgement” were made in helping to arrange an £800,000 loan guarantee for Boris Johnson while Sharp was applying for the top job at the BBC. Ex-JP Morgan and Goldman Sachs banker Sharp, who [...]
Britcoin: Why a UK CBDC should be treated with caution February 10, 2023 Jai Bifulco, Chief Commercial Officer at Kinesis Money, believes the centralised nature of CBDCs comes with more sinister complications.
UK narrowly avoids recession as GDP remains unchanged but Jeremy Hunt warns country ‘not out the woods yet’ February 10, 2023 The UK very narrowly avoided a recession in the final months of last year but the economy contracted sharply over Christmas, official figures out today reveal. Gross domestic product (GDP) remained unchanged in the final three months of last year, meaning the country swerved the technical recession definition of two consecutive quarters of contraction, according [...]
Bank of England governor Andrew Bailey ‘very uncertain’ about inflation decline February 9, 2023 The Bank of England’s governor, Andrew Bailey, has today admitted he is “very uncertain” about whether inflation will decline, forcing him to back another steep interest rate increase last week. Responding to a grilling by MPs on the commons treasury select committee, Bailey, 63, said he wants to see “more evidence” of the rate of [...]
The digital pound is right on time to underpin the UK’s transition to a digital economy February 9, 2023 Jannah Patchay reflects on the government announcement that it would 'actively explore' the introduction of a UK CBDC.
The Square Mile and Me: Savvas Savouri on his first job, unfortunate typos and supporting the Gunners February 9, 2023 We dig into the memory bank of the City’s great and good: this week it’s Savvas Savouri, chief economist and partner at Toscafund Asset Management. What was your first job? I must mention a very entertaining Saturday job at my uncles’ shoe repairers, The Master Cobbler, in Highbury Barn, an area full of character and [...]
Exclusive: Brits turn to buy-now pay-later to fund spending amid cost of living crisis February 9, 2023 Brits are turning to buy-now pay-later products to fund online spending amid a cost of living squeeze that is eroding their disposable income rapidly, exclusive research shared with City A.M. reveals. Nearly £1 in every £8 spent online last month was sourced from buy-now pay-later providers, according to research by Adobe Analytics. The proportion is [...]