Economic green shoots to coax Bank of England into steepest rate rise since independence July 13, 2022 Signs of green shoots in the UK economy will encourage the Bank of England to launch the steepest interest rate hike since it was made independent 25 years ago. Stronger than expected growth in May suggests the economy can absorb higher interest rates without falling into recession, known as a “soft-landing,” according to City analysts. [...]
Brexit opportunities minister Jacob Rees-Mogg: I would refuse to serve in ‘socialist’ Rishi Sunak’s cabinet July 13, 2022 Boris Johnson ally Jacob Rees-Mogg has branded Rishi Sunak a ‘socialist’ and refused to serve in his cabinet should he become PM. The Brexit-backing Conservative MP hit out at the former chancellor’s “disloyalty” to the Prime Minister after he resigned last Tuesday. This comes after Rees-Mogg appeared to brand Sunak a socialist for high taxes [...]
Ex-Nationwide chairman emerges as leading contender for Bank of England watchdog role July 13, 2022 Former Nationwide chairman David Roberts has emerged as the frontrunner to lead the Bank of England's oversight board, reports Sky News.
City Moves: Who’s switching jobs in the Square Mile? July 13, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Actis Sustainable infrastructure investor Actis has poached its new head of central and eastern Europe from Allianz Capital Partners (ACP). Jaroslava Korpanec, who was a founding partner at ACP, also joins the firm as a partner, leading [...]
Tax cuts won’t cut it; the new Tory leader must bring about innovation July 13, 2022 As I write, every candidate vying to be the next Conservative Party leader – with the exception of Rishi Sunak – has promised major tax cuts. In many ways this is welcome, as taxes can deter investment and increase the cost of living. During a time where families are struggling to make ends meet and [...]
AerCap sues AIG for $3.5bn over aircraft lost in Russia July 12, 2022 AerCap, the world’s largest aircraft lessor, has recently sued AIG and other insurers following a $3.5bn all-risk claim filed in March over aircraft lost in Russia. The company argued in the UK’s High Court that insurers owed AerCap the amount as part of the “all risk” insurance policy it adopted. According to the Dublin-based company, [...]
Tory leadership: Shapps and Raab back Rishi Sunak to be next PM July 12, 2022 Transport secretary Grant Shapps and deputy Prime Minister Dominic Raab have backed Rishi Sunak to be the next Tory party leader, with the former chancellor today vowing “a return to traditional conservative economic values” if he becomes Prime Minister. Shapps’ endorsement comes after he decided to call off his faltering campaign and throw his lot [...]
‘Greed is good’: Radwood retro car show to celebrate the 1980s July 12, 2022 Taking place at Bicester Heritage on 20 August 2022, the Radwood show encourages drivers to dress in retro clothes to match their cars.
Rishi, Penny, Kemi or Jeremy: Meet the Tory leadership runners and riders fighting to replace Boris Johnson July 12, 2022 The Tory leadership race gained momentum over the weekend, with opening gambits coming thick and fast from candidates across almost every wing of the party. Rishi Sunak, who wasted no time on Friday in publicly stating an intention to stand, remains an early favourite. But a host of hopefuls, including Nadhim Zahawi, Grant Shapps and [...]
London businesses crimped by cost of living spending slowdown July 12, 2022 London’s businesses are being crimped by Brits cutting spending in response to the cost of living squeeze, reveals a survey released today. Some one in four of the capital’s firms have suffered income hits over the last three months, up from a fifth in the first quarter of this year, according to the London Chamber [...]