Scotland set for Westminster-led unionist push – as Sunak vows to keep country together January 14, 2023 Rishi Sunak has said he wants to “tangibly and visibly” demonstrate the UK Government’s presence in Scotland. The Prime Minister has been in Inverness this week as part of a two-day trip north of the border, during which he announced two new green freeports in Scotland. On Thursday night, he met with First Minister Nicola [...]
FTSE 100: London edges ever closer to a new record high January 14, 2023 The FTSE 100 fell short of hitting some all-time highs on Friday after a strong start to the year. Pushing up to fresh five-year highs, the FTSE hit its highest score since the record points it had tallied in May 2018. It closed at 7,844.07 on Friday after briefly peaking at 7,864.95 a little earlier [...]
Blackrock’s profit and AUM down but world’s largest fund manager reports net inflows of $146bn January 13, 2023 Blackrock reported an 18 per cent drop in its fourth-quarter profit blaming an ‘operating environment unlike anything we’ve seen in decades’. The world’s largest fund manager still managed to net increase inflows, which totalled $146bn during the three months ending 31 December. Blackrock’s net income income fell 23 per cent to $1.3bn (£1.1bn) from $1.6bn [...]
Looking at both sides of the coin: a technical view of CBDCs January 13, 2023 Dr Carlos Leon - a director at crypto platform FNA - puts forward the case for central bank digital currencies (CBDCs).
Diaries of a fund manager: Jack Hsiao on running a multi-billion pound investment giant January 13, 2023 As 2023 gets under way, the spotlight is firmly on the City and on its fund managers. What will be their next move? How and where do they find inflation-busting assets? Are they opting for more risk or playing it safe? City A.M. checked in with fund manager Jack Hsiao, he is a managing director [...]
UK economy shockingly grows in November on back of World Cup pub boost, raising hopes of shallow recession January 13, 2023 The UK economy expanded in November, smashing downbeat market expectations and signalling the coming recession could be short lived, official figures out today reveal. Gross domestic product (GDP) climbed 0.1 per cent in November, defying analysts’ bets on a 0.2 per cent contraction, the Office for National Statistics (ONS) said today. The expansion was driven [...]
Banning plastic forks will be a headache for hospitality firms January 13, 2023 Banning plastic cutlery is a win for environmental campaigners, but for restaurants battling inflation and rising energy bills, it could create more problems, writes Mark Stefanini
Is a new crypto bull run about to kick off? January 12, 2023 Nigel Green believes confidence is creeping back into crypto, but is there enough evidence to show we're near a bull market?
How We’re Trading US CPI This Week January 12, 2023 Not much action to kick off the week unfortunately, but US CPI on Thursday is probably the reason for that. With markets lying in wait, hopefully that means there are some opportunities to be taken advantage of as we head into it tomorrow. Bigger Picture In the lead up to the release we need to [...]
As US inflation eases off 40-year high, Fed likely to ease off on back-to-back jumbo rate hikes January 12, 2023 US inflation is at its lowest level in 15 months, fuelling speculation the Federal Reserve will step back from further jumbo interest rate hikes in 2023, Official figures out today show the rate of price increases in the world’s largest economy fell to 6.5 per cent in December, down from 7.1 per cent in November, [...]