FirstGroup nears completion of £122m greyhound property portfolio sale December 16, 2022 Transport service provider FirstGroup has finalised the sale of all but two of its US legacy greyhound property portfolio to Twenty Lake Holdings in a £122m deal.
UK consumer confidence rises but forecasts remain bleak  December 16, 2022 Consumer confidence in the UK improved by two points this month, but still remains near all-time low levels.
Bank of England sends interest rates to 14-year high but slows hike cycle to 50 points December 15, 2022 The Bank of England today sent interest rates to their highest level since October 2008, although it slowed the pace of increases to avoid unnecessarily intensifying a looming recession by squeezing households and businesses’ finances. Threadneedle Street’s monetary policy committee (MPC) voted 6-3 in favour of a 50 basis point rise to 3.5 per cent, [...]
Octopus signs deal with Shell to buy energy from world’s largest wind farm December 15, 2022 Octopus Energy Group has signed a long-term deal with Shell to buy green energy from Dogger Bank, the world's largest wind farm.
US Federal Reserve ushers in global rate hike slow down with 50 point rise December 14, 2022 The US Federal Reserve has tamed the pace of its aggressive interest rate hike campaign tonight, but signalled borrowing costs will eventually peak much higher than previously expected. Chair Jerome Powell and the rest of the federal open market committee (FOMC) backed a 50 basis point rise in the world’s most important interest rate, climbing [...]
FTSE 100 shrugs off rosy inflation numbers as house builders drop December 14, 2022 London’s FTSE 100 shrugged off upbeat figures today that indicated the UK’s inflation surge may have finally passed its peak. The capital’s premier index edged 0.09 per cent lower to 7,495.93 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.25 per cent to [...]
The Christmas Quiz: Twelve questions to test your grey matter December 14, 2022 Roll up, roll up, for the City A.M. quiz in association with Deloitte's economics team. Twelve questions, all (just about) related to business and economics
‘At last!’: City cheers signs of UK inflation passing its peak December 14, 2022 The City has cheered fresh figures out today that revealed this year’s historic inflation surge may have finally turned a corner. Prices accelerated 10.7 per cent over the year to November, down from a 41-year high rate of 11.1 per cent in the previous month, according to the Office for National Statistics (ONS). The fall [...]
Bailey warns against ripping up City rulebook in Edinburgh reforms December 13, 2022 BANK OF ENGLAND Governor Andrew Bailey poured cold water on ambitious Government plans to rewrite the financial services rulebook today, warning that the regulatory issues which led in part to the global financial crisis have not gone away. The government is set to tweak some 30 pieces of regulation which it believes will free the [...]
Bank of England calls for tighter rules on LDI market after mini-budget chaos December 13, 2022 Tighter oversight of the pensions industry is needed to ensure it can “withstand severe but plausible market moves” similar in size to those seen in the aftermath of Liz Truss’s disastrous mini-budget in September, the Bank of England said today. The recommendation from the Bank’s financial policy committee (FPC) has been sparked by concerns over [...]