Interview: Former rate setter Andrew Sentance on Governor Bailey’s ‘off the cuff’ remarks and where the BoE went wrong March 16, 2022 It is often a mark of how dire an economy’s situation is when incremental rises in interest rates hit the front pages. The worst cost of living crunch in a generation has, however, sent the Bank of England to the front of many households’ minds. Those outside of the City care less about the vagaries [...]
Turn around for Natwest as bank returns to profitability February 18, 2022 Natwest has returned to profitability after suffering heavy losses in 2020, with results boosted by strong savings and lending growth.
Exclusive: The challenges and hurdles City finance chiefs will face in 2023 January 4, 2022 Firms across practically every industry in the UK are facing a bleak economic winter ahead, but where is that playing out and what hurdles do the incoming storm clouds bring in 2023? City firms will be turning to one senior figure to understand these issue and look to keep the ship afloat – the Chief [...]
UK firms slash borrowing to reduce swelling debt burden December 13, 2021 British businesses are set to slash borrowing this year as firms repay debt to repair the damage inflicted on them by the Covid-19 crisis, according to a new report released today. A return to normal patterns of economic activity after the disruption caused by the pandemic will drive a sharp pull back in business borrowing, [...]
First-time buyer price inflation nears 10 per cent as London house prices shoot past £500k November 6, 2021 First-time buyer annual house price inflation is now at a five-month high, at 9.2 per cent, and has pushed ahead of the equivalent measure for home movers, at 8.1 per cent, according to property experts. In London, the average house prices have shot passed £500k. The average UK house price hit a record high of [...]
UK banks’ earnings season is tough one to call October 20, 2021 Wall Street’s biggest banks have reaped the rewards of a booming deal environment, the release of loan loss reserves and swelling deposits. Goldman Sachs, Bank of America and JPMorgan all flexed their muscles as they kicked off US earnings season last week. Now, it is the turn of their British pretenders, starting tomorrow with the [...]
NatWest to launch first eco-friendly loans as part of new £100bn green funding pot October 13, 2021 NatWest said this morning it plans to bring £100bn to green funding to the market by the end of 2025 and the City bank will also roll out its first eco-friendly business loans. The bank stressed its strategy is to help small firms capitalise on the drive to tackle climate change. The pledge sees the [...]
Tory conference: Boris Johnson’s speech in full October 6, 2021 Prime Minister Boris Johnson delivered his second leader’s speech at Conservative conference today. Here is his speech in full. Isn’t it amazing to be here in person the first time we have met since you defied the sceptics by winning councils and communities that Conservatives have never won in before – such as Hartlepool in [...]
With S&P 500 down 4.8 per cent, September counted the worst losses since March 2020 October 1, 2021 September counted the worst monthly losses since the beginning of the pandemic, with stocks on Wall Street falling broadly yesterday. The S&P 500 ended the month 4.8 per cent lower, its first monthly drop since January and the biggest since March 2020, when the viral outbreak rattled markets as it wreaked havoc with the global [...]
UK housing market still steaming despite looming stamp duty break cut off September 29, 2021 The looming end of a watered down tax break on house purchases has not cooled the UK’s rampant housing market, according to official figures released today. Brits took on £21.5bn in mortgage debt last month, up sharply from July’s figure of £16.6bn, shows Bank of England data. A record low interest rate environment has propped [...]