UK banks’ shares slide on fears of recession and bad debt January 19, 2023 UK banks’ share prices dipped on Thursday as increasing fears of recession, bad debt and a fairly poor set of US bank earnings this week spooked investors. Barclays shed 2.8 per cent, HSBC 0.6 per cent and Standard Chartered 0.8 per cent. Domestic-focused lenders Lloyds and Natwest also traded lower, finishing down 1.0 per cent [...]
FTSE 100 close: Persimmon and Taylor Wimpey pull index away from record high January 19, 2023 London’s FTSE 100 index registered one of its worst days since the turn of the year, pulling it away from its record high. The capital’s premier index shed 1.07 per cent to drop to 7,747.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell [...]
Fintech Pensionbee buzzes towards profits after reporting boost in savers January 19, 2023 London-listed fintech PensionBee has doubled down on its prediction of profits this year after reporting a boost in customers and revenues in 2022.
Andrew Bailey hints Bank of England is close to ending interest rate hike cycle January 19, 2023 Andrew Bailey has hinted that the Bank of England will stop hiking interest rates soon in an interview today. Speaking to Business Live, the governor of the Bank suggested market expectations of rates peaking at around 4.5 per cent is more in line with the central bank’s own thinking. Though Bailey, 63, said he is [...]
Bitcoin and wider crypto markets take a breather January 19, 2023 Bitcoin is trading for $20,789 this morning, down by 2.25% over 24 hours, while Ethereum is in the red by 3.32%, changing hands for $1,527.
DCG may be forced to offload assets to maintain liquidity January 18, 2023 Shareholders of troubled venture capital outfit DCG have been warned the company may be forced to sell off portfolio assets.
Gateley chief says truce in legal sector pay war will boost firm’s expansion plans January 18, 2023 An easing of the pay war between law firms has already begun to benefit Gateley’s balance sheet as the listed law firm’s chief executive outlined his expansion plans to City A.M. Gateley boss Rod Waldie said the “whole sector is benefiting” from the calming of the legal sector pay war that has seen lawyers’ salaries [...]
City analysts betting on Bank of England interest rate cuts by early 2024 – as long as inflation falls quickly January 18, 2023 The Bank of England could cut interest rates as soon as early next year if inflation continues to tumble in 2023, top City analysts have predicted. The rate of price increases is forecast to more than halve which would bring inflation to below five per cent by the end of 2023, according to forecasts from [...]
Corporate insolvencies surge as firms struggle to survive harsh economic climate January 17, 2023 The number of company insolvencies in December 2022 was 76 per cent higher than before the Covid-19 pandemic, new data from the ONS revealed on Tuesday. There were 1,964 company insolvencies in December 2022, 32 per cent higher than the previous year and 76 per cent higher than the 1,119 registered in December 2019. Fladgate’s [...]
FTSE 100 close: Ocado drags London index away from record high January 17, 2023 London’s FTSE 100 edged away from its record high today, driven lower by traders ditching middle-class favourite and online supermarket Ocado after it said income has tanked. The capital’s premier index closed 0.12 per cent lower at 7,851.02 points, while the domestically-focused and mid-cap FTSE 250 index, which is more aligned with the health of [...]