Christmas strikes: Government sends in 1,200 troops to replace workers December 18, 2022 Around 1,200 members of the military and 1,000 civil servants are being sent in by the government to cover striking ambulance drivers and Border Force staff. The staff will be deployed to minimise disruption throughout the rest of the month as more key sector workers go on strike. Up to 10,000 ambulance staff will go [...]
City eyes final economic data before Christmas shut down December 18, 2022 Although investors will be readying to get away over the Christmas break, there are a few economic data sets to get through before the City shuts down. Last week, London’s FTSE 100 index slumped nearly two per cent to close at 7,332.12 points as traders were bombarded by a barrage of global economic news. FTSE [...]
What a year it’s been in crypto December 16, 2022 Jason Deane takes a look back over the year in crypto.
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.
Big tech’s year of rough seas has taught us a lesson in naming winners and losers December 16, 2022 IF 2022 has taught us anything, it has shown us how there are no clear business winners or losers from the pandemic. The rough year for big tech is a case in point. Although many of the Faang (Meta neé Facebook, Apple, Amazon, Netflix and Alphabet) cashed in on the various lockdowns, this year has [...]
Letters: A whole new world of forex December 16, 2022 [Re: UK banks face wave of ‘exotic’ forex derivatives claims after collapse of Pound, yesterday] Businesses, which were scrambling to protect their bottom lines against the dollar’s record highs and the euro, pound and yen’s record lows, have been let down by traditional banks. This “wave” of “exotic” forex derivatives highlights that despite fierce fintech [...]
City chamber of commerce launched to help Square Mile firms navigate challenges December 15, 2022 The City’s chamber of commerce has launched a new body dedicated to supporting business within the Square Mile. London Chamber of Commerce and Industry announced the creation of the City of London Chamber this week. It will be a forum for firms of all sectors to convene and and discuss ideas, from the biggest banks [...]
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, [...]
OEUK hires industry veteran David Whitehouse as new chief executive December 15, 2022 Industry body Offshore Energies UK (OEUK) has named industry veteran David Whitehouse as its new chief executive.
London is triumphing over its reputation as the weird cousin of US tech successes December 15, 2022 Next year will mark twenty-five years since the dot.com boom that took place between 1998 and 2001. It was a time of huge creativity. Capital, talent and enthusiasm flowed into new ideas and young start-ups. What can London in 2023 learn from those heady days? We were there in 1998 with the lofty ambition of [...]