City boss pays staff in gold to beat inflation: ‘Makes no sense to pay them in pounds’ May 15, 2022 Staff at a financial services firm in the City of London have been offered the possibility to get paid in gold rather than pounds and pence — to help them keep ahead of inflation. TallyMoney CEO Cameron Parry is understood to be the first employer in the country to trial a gold payroll, though other [...]
Royal Mail set to post this week after job cuts May 15, 2022 The City will be looking out for signs that Royal Mail has made significant cost savings following substantial job cuts when it updates the market this week. Earlier this year, the company announced plans to axe 700 management jobs in a bid to reduce costs by about £40 million a year after experiencing a dip [...]
Bank of England chief Bailey set for toughest spell since taking reins from Carney May 15, 2022 Bank of England chief Andrew Bailey is this week set for one of his toughest spells since taking over from Canadian Mark Carney two years ago as head of the UK’s monetary authority. Bailey, 63, will tomorrow have to defend the Bank’s performance in taming a cost of living squeeze that risks plunging the UK [...]
Millions of Brits’ tax bills set to soar as fiscal drag bites May 15, 2022 Millions of Brits’ tax bills are set to soar due to chancellor Rishi Sunak freezing the thresholds at which people start paying the taxman, revealed research published yesterday. Around 6.7m people will be hit by higher rates by 2024, the year the next general election is scheduled, according to consultancy Lane Clark and Peacock (LCP). [...]
Week ahead: City eyes potentially ‘staggering’ inflation figures May 15, 2022 The City will turn its gaze to what is likely to be another tranche of “staggering” inflation data in a week bulging with economic and corporate updates. London’s premier FTSE 100 index whipsawed last week, dropping sharply on Monday before finishing the week up 0.41 per cent at 7,418.15 points. The mid-cap domestically-focused FTSE 250 [...]
Oil prices rebound heading into next week’s trading with China to ease pandemic restrictions May 15, 2022 Oil prices are up heading into next week, with China set to ease some of its pandemic restrictions while the EU weighs up a Russian oil ban.
Spain and Portugal target price cap for natural gas to combat skyrocketing inflation May 15, 2022 Spiralling inflation has triggered a fresh round of state intervention in Europe, with both Spain and Portugal setting up price caps for gas trading.
Andrew Bailey faces House of Commons grilling amid cost of living crunch May 14, 2022 Bank of England Governor Andrew Bailey will face questions over his leadership on Monday following his policy towards the cost of living crunch.
Millions of Brits face £100 per month budget shortfall as merciless cost-of-living crisis deepens May 14, 2022 Millions of households could be left around £100 per month short of what they need to cover their spending in just two years’ time on average, as costs rise faster than incomes, a new report suggests. By 2024, average weekly incomes could increase to £680 by 2024 – while average weekly UK household spending may [...]
Tech Weekly: Crypto plummets, and analysing tech stock rout in 2022 May 13, 2022 This week City A.M.’s Charlie Conchie talks to Lorne Daniel, Technology Research Analyst at financial services company finnCap. They unpick a very rough quarter for tech companies and tech stocks, and go through what’s to come. Charlie also takes us through the main headlines this week — multiple cryptocurrencies have plummeted in value, pressure is [...]