If we reform the City too fast, it will sow political angst against the financial recovery we need September 29, 2022 This long-term approach, with business and government cooperating to promote investment and productivity growth, has been dropped. Instead, we have “deregulation” with little strategic thought.
Rates on UK debt surge higher and pound slumps against US dollar September 28, 2022 Rates on UK debt surged higher today and the pound trailed the US dollar again driven by investors sweating over the government’s tax and borrowing splurge. The yield on the 30-year UK gilt jumped six basis points to 5.048 per cent, the highest since 1998. Investors were demanding a greater return ahead of the government [...]
Ex Bank of England deputy governor: Impact of cuts from mini-budget may spell end for NHS September 28, 2022 A former deputy governor of the Bank of England has warned the NHS faces an existential threat as a result of government tax cuts and fiscal plans. Sir Charlie Bean, who is also a member of the Office for Budget Responsibility, said the government has lost confidence of markets and “the thing about credulity is [...]
5m Brits have more than one job while double that number is looking for a side hustle September 27, 2022 More than 5m Brits are turning to a second or even third job to beat the cost of living crisis, while another 10m are considering it, according to new data out today from insurer Royal London. In fact, a separate study commissioned by GoDaddy shows that nearly one in three of firms that have under 10 employees are secondary [...]
Over-50s specialist Saga has 600 per cent increase in underlying profit in Covid revival September 27, 2022 The post-pandemic boom in travel and cruising helped over-50s specialists Saga post a 600 per cent increase in underlying profit for the first half of the year. Saga announced almost £260m in revenue up until July 2022, a 65 per cent increase on the previous year, while its £14m underlying profit brought it back in [...]
‘The Future of Money’: book review September 26, 2022 Are cryptocurrencies the next big investment, a fad or a currency that will transform the economic and financial landscape? What are some of the advantages and shortcomings of digital currencies? Who will benefit from them? Eswar S. Prasad attempts to address these questions in The Future of Money: How the Digital Revolution Is Transforming Currencies [...]
3 benefits-packed tech jobs of the week September 26, 2022 The demand for experts within tech companies is at an all-time high, and expected to rise even higher as we move towards 2023. Higher salaries and competitive non-financial benefits such as unlimited paid time off and travel allowances are just some of the reasons people are moving into roles with tech companies. Throw in the [...]
LV appoints former Bupa chief David Hynam to top job September 26, 2022 Insurance giant LV group announced this morning that former Bupa chief executive David Hynam would take over leadership of the firm after the departure of controversial chief Mark Hartigan at the end of this month.
Liz Truss wants winning to be as easy as quick cash in voters’ back pockets September 26, 2022 We often complain that politicians are unwilling to give straight and unambiguous answers. Last week we saw something different: the government was very clear that Friday’s statement to the House of Commons by the new chancellor, Kwasi Kwarteng, was not—repeat, not—a budget. The name of the so-called fiscal statement, “the Growth Plan”, had a faint [...]
George Osborne calls on government to fix ‘schizophrenic’ levels of borrowing September 25, 2022 Liz Truss must end the “schizophrenic” economic policy of slashing taxes and increasing government borrowing, according to former chancellor George Osborne. Osborne said he was pleased to see Truss acting like a “conviction politician”, but said the government must make spending cuts if it wants to also lower taxes. Chancellor Kwasi Kwarteng unveiled the largest [...]