Pound Sterling crashes to jaw-dropping 37-year low as City awaits name of new Prime Minister September 5, 2022 Pound Sterling dropped this morning below its pandemic lows against the dollar after weeks of weakening, sending it to the lowest point in decades. It means that it has been 37 years since British holidaymakers in the US, and importers bringing products into the UK, got so little bang for their pound. It briefly fell [...]
This week: Housebuilding space to come under spotlight with key players revealing results September 5, 2022 Investors will get a good idea of how the housing market is faring with a trio of leading housebuilders unveiling financial results this week. Barratt Developments, Berkeley Group and Vistry are all set to update shareholders on their performance amid reports the housing sector is losing steam. London-listed housebuilding giants Barratt, Berkeley, Persimmon and Taylor [...]
Letters: Failure at the high street bank September 5, 2022 [Re: Fintech lenders have failed to educate FCA on financial crime, August 23] The knowledge gap between financial regulators and digital banks is no surprise. Traditional financial institutions’ largely ineffective financial crime protections make mutual understandings between regulators and providers a rare occurrence. So, when digital banks are called out for their lack of transparency, [...]
Truss appears to soften Bank of England independence stance September 4, 2022 Liz Truss appeared to soften her stance on the Bank of England’s level of independence today as the Tory party prepares to crown a new leader and Prime Minister. Truss, the presumptive next Prime Minister, said she was a “great believer” in the Bank of England’s independence and that she would not “countermand to the [...]
Liz Truss as PM will need a sharp focus on delivery September 4, 2022 In the Square Mile and Westminster alike, the secret to good leadership is two-fold: say hello to everybody, and don’t sweat the small stuff. The vast majority of CEOs in the City know that the best way to run a large business is to set a clear strategy and focus on a small, but important, [...]
Weekend Read: As the Pound crashes to record low, what can be done to halt Sterling’s freefall? September 4, 2022 City A.M. reported yesterday that the pound is on course to plunge to a record low against the US dollar, largely driven by the UK tumbling into a tough recession. Sterling is expected to drop to $1.05 by the middle of next year, but could fall close to parity with the greenback, according to consultancy [...]
The crypto autumn brings storms to the eternal fiat winter September 2, 2022 Crypto AM's Monty Munford is basking in the crypto glow from the sun of York as he predicts a dark winter for fiat.
Now is the season of crypto discontent September 1, 2022 There are plenty of legs for a positive case for crypto to stand on, yet the narrative remains that crypto is unsound, says Charlie Kerrigan.
Pound on crash course to record low against US dollar September 1, 2022 The pound is on course to plunge to a record low against the US dollar driven by the UK tumbling into a tough recession, City economists warned today. Sterling will drop to $1.05 by the middle of next year, but could fall close to parity with the greenback, according to consultancy Capital Economics. The downbeat [...]
UK house price growth slows to 10 per cent as energy crisis batters Brits September 1, 2022 Annual UK house price growth slowed to 10 per cent in August, from 11 per cent in July.