Nine-in-ten Brits don’t want financial services regulations to promote ‘global competitiveness’ February 4, 2022 Nine-in-ten Brits do not think the government should change financial services regulations to promote “international competitiveness” post-Brexit, according to a new survey. An Opinium survey – commissioned by an alliance of 37 charities and public interest groups – found 91 per cent of Brits would prefer the government to “focus on the future stability of [...]
Cost of living crunch to derail UK economy in bruising day for living standards February 3, 2022 A double whammy of bad news today laid bare the scale of the blow the cost of living crisis will deal the British economic recovery, with the energy price cap set to spike by 54 per cent and GDP forecasts slashed by the Bank of England. Ratesetters at Threadneedle Street hiked the interest rate to [...]
Brits should brace for further rate hikes from Bank of England, City economists warn February 3, 2022 Households should brace for further rate hikes from the Bank of England this year as it steps “up its fight against inflation”. The Bank will rapidly pivot policy toward getting on top of Britain’s cost of living crunch, City economists are betting after today’s decision to raise rates at back-to-back meetings for the first time [...]
Pubs face inflationary costs of over 10 per cent as bosses call for tax relief February 3, 2022 Pubs are facing inflationary business costs of more than 10 per cent as publicans battle spiralling energy and labour costs. More than two in three pubs told an industry survey they were facing such substantial cost increases. Venues are facing skyrocketing energy bills while a labour crunch has seen wages of bartenders and chefs leap [...]
Brits brace for worst cost of living squeeze since 1990 February 3, 2022 Brits are set for the worst cost of living squeeze in recent history in just a few months’ time, reveals fresh forecasts released by the Bank of England today. A combination of swelling energy bills and soaring food prices will erode real incomes at the fastest pace since in over 30 years. Rampant price rises [...]
Europe racks up over £430bn in climate-related losses since 1980 February 3, 2022 Europe has racked up climate-related losses of between £375bn and £433.5bn since 1980, according to the European Environment Agency (EEA). In a new report on the economic impacts of extreme weather and climate across the EEA’s 32 member states, Germany, which suffered catastrophic floods last July, was found to have swallowed the highest losses between [...]
City Moves: Who’s switching jobs in the Square Mile this week? February 3, 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. Just FTSE 250 retirement group Just has appointed a new managing director to its high growth defined benefit de-risking business after it secured record results last year. Joining in mid-April, Pretty Sagoo brings a “wealth” of experience in bulk annuities and the pensions risk transfer market to [...]
As Johnson and Starmer dance to the same tune, politics will look for an outsider February 3, 2022 THIS week, the Labour leader Sir Keir Starmer has invoked Margaret Thatcher in an effort to skewer Boris Johnson for ignoring Covid rules and attacked the Prime Minister for presiding over a policy of “low growth and high taxes”. It’s a strong position for Starmer to be in, as support for Johnson groans under the [...]
Scottish Widows lays out plans for net zero pension investments February 3, 2022 Pensions giant Scottish Widows has rolled out plans to decarbonise its investment portfolio and halve emissions by 2030.
Is the future of our financial system DeFi? February 3, 2022 If Bitcoin is the Book of Genesis in crypto’s historical record, then DeFi (decentralised finance) might as well be the New Testament. Not a big religion buff? That’s ok – we’ve put together a way more detailed explanation about DeFi and its key components. While having knowledge of the broader cryptoasset market is key, DeFi [...]