Why the Bank of England stayed hawkish on interest rates while the Fed was optimistic December 14, 2023 The Bank of England has taken a more hawkish stance than its US counterpart on future interest rate cuts, after opting to leave them at a 15-year high of 5.25 per cent for the third time in a row. The central bank’s Monetary Policy Committee (MPC) said “key indicators” of inflation were still elevated, despite [...]
Worst corporate jargon of the week: Run it up the flagpole December 14, 2023 Running it up the flagpole: what does it mean? Who uses it? Should we be worried? City A.M. gives their verdict on a retro piece of jargon.
Musicmagpie share price soars after strong results on Black Friday tech sales December 14, 2023 Musicmagpie shares soared as much as 24 per cent on Thursday after the second-hand smartphone seller said it saw a record Black Friday.
Battery firm Gore Street feels bite of investment cooldown as profits plunge December 14, 2023 The battery energy storage firm has struggled with NAV and profit slumps since March
Capita appears to be turning a corner after a year of debt, cyber attacks, job cuts and sell-offs December 14, 2023 It said there revenue growth of 2.1 per cent this year, and a boost in its total contract value to £2.89bn, an increase of 47 per cent on last year. It attributed this to a “significant improvement in win rate”.
TfL savings target upped to £650m amid concerns over ‘managed decline’ December 14, 2023 Transport for London must find £650m in savings by 2025/26, according to its draft business plan and amid calls for a funding arrangement.
Federal Reserve hold rates for third time but hints at future cuts December 13, 2023 The US Federal Reserve has kept interest rates on hold for a third time in a row, as “inflation has eased over the past year but remains elevated”. The announcement from the Federal Open Market Committee (FOMC) today sees the federal funds rate remain between 5.25 per cent and 5.50 per cent, its highest level [...]
Fear within UK small businesses peaks as economy shrinks December 13, 2023 Fear within UK small businesses has peaked today as the 0.3 per cent fall in October's GDP reignites a surge in economic concerns.
Lending to SMEs drops for fifth straight quarter as MPs probe access to funding December 13, 2023 Lending to small and medium-sized businesses (SMEs) has fallen by 20 per cent in its fifth consecutive quarterly drop, according to new figures from the banking trade body, as major lenders face scrutiny from MPs.
Regulator to clamp down on post-Brexit credit and debit card fees December 13, 2023 An “unduly high” surge in credit and debit card interchange fees has cost UK businesses an extra £150m to £200m in the past year, the Payment System Regulator (PSR) has found. As a result, the regulator has proposed a price cap to protect UK businesses from overpaying, as it believes a significant raise in fees [...]