Paragon Bank attracts billions of pounds in new deposits as savers seek better rates July 25, 2023 FTSE 250 challenger Paragon Bank has attracted billions in new deposits over the past year, as customers seek better rates on their savings. Paragon said its retail savings balance stood at over £12.3bn by the end of June, up 21.6 per cent on the same period last year. It noted these deposits were “predominantly fixed [...]
Better Business: Impact Governance July 25, 2023 7 essentials for governing a purpose-driven business Your corporate purpose is your compass, guiding your profitability and your business’ wider impact on the world. In defining what corporate purpose should be, there’s clear momentum towards stakeholder capitalism in the UK, with initiatives like the B Corp movement and the Better Business Act bringing corporate purpose [...]
Bridgepoint hopes for deals rebound later this year as sluggish exit market hits income July 25, 2023 Private equity giant Bridgepoint said it was betting on a rebound in dealmaking in the second half of the year today after its investment income slumped in the first six months amid lingering volatility and a sluggish exit market.
UK recession risk just got a whole lot lower after inflation undershoot July 25, 2023 From the Bank of England to recession warnings, Jack Barnett gets under the skin of Britain’s economy in his weekly column Bank of England Governor Andrew Bailey would not have been the only person in the City last week breathing a sigh of relief after the better than expected inflation numbers. It was the first [...]
Utilita boss: We’ve got ‘no faith’ in Ofgem’s ability to manage the market July 25, 2023 The price cap is still "the biggest single risk to supplier profitability," warned Utilita boss Bill Bullen, as he called for more household support.
FTSE 100 close: Barclays, HSBC and Lloyds retrace losses as Ocado soars July 24, 2023 London’s FTSE 100 retraced early losses today to close in the black, driven higher by online supermarket Ocado surging after it settled a dispute over its warehouse technology. The capital’s premier index climbed 0.19 per cent to 7,678.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Moneysupermarket expects no ‘significant’ energy switching this year July 24, 2023 Moneysupermarket has said that it does not expect customers to start switching energy suppliers in any “significant” numbers this year.
Eurozone edges nearer to recession while UK economy ‘stalls’ July 24, 2023 The European economy has edged closer to recession, while the UK is on the brink of slipping into negative growth, closely watched surveys out today reveal. A snapshot of the eurozone’s respective economies showed high inflation and the European Central Bank’s (ECB) efforts to tame it with interest rate rises is cooling activity. Hamburg Commercial [...]
Thames Water owner Kemble hit with downgrade in debt ratings July 24, 2023 Thames Water owner Kemble has suffered a downgrade in the credit rating of its debts from influential agency Moody’s.
Bitcoin picks up where it left off with eyes on $30,000 July 24, 2023 Bitcoin and other cryptocurrencies continue to idle as investors wait for significant signals for their next move