Exclusive: Investors prioritise security as they flock to low risk assets December 3, 2020 UK investors are shifting their attention to low risk assets as they prioritise security over returns in their investment strategies for the next year. A survey of almost 900 UK investors by Butterfield Mortgages reveals that nearly half have lost money due to the volatility caused by the pandemic. In times of uncertainty, investors will [...]
UK house prices grew at fastest rate since 2015 in November December 1, 2020 UK house prices grew at an annual rate of 6.5 per cent in November, the fastest rate since January 2015, as the sector batted off the second national lockdown. According to Nationwide’s house price index, prices also increased on a month-on-month basis to be up 0.9 per cent compared to last November. As a result, [...]
Economists lambast BBC over ‘misleading’ UK debt coverage November 30, 2020 A group of the country’s leading economists have written to the director-general of the BBC to complain about the broadcaster’s “misleading” financial coverage. Two-dozen finance wonks told Tim Davie that the BBC’s reporting on UK borrowing “misrepresented” the constraints facing the government and the economy due to the Covid-19 crisis. The complaint related to the [...]
S&P Global agrees $44bn mega-deal for IHS Markit November 30, 2020 S&P Global has agreed a $44bn (£33bn) deal to buy data firm IHS Markit in a move that will create a new financial services giant.
Before the bell: Equity sentiment slips while all eyes are on OPEC November 30, 2020 Equity markets had a positive run last week on the back of more progress being made with respect to developing a Covid-10 vaccine. In addition to that traders are more optimistic that President Trump will leave office quietly in January. The main story of the week was that the drug being developed by AstraZeneca and [...]
Saving the nation from a crisis November 26, 2020 In the late 1970s when I was taught economics as an undergraduate, we were told that savings equalled investment (S = I). Of course, there were caveats, mainly that we were dealing with a closed economic system without international trade and finance — in other words, not an economy which actually exists in the real [...]
DEBATE: Should Rishi Sunak scrap the RPI inflation measure in today’s Spending Review? November 25, 2020 Should Rishi Sunak scrap the Retail Prices Index (RPI) inflation measure in today’s Spending Review? Angus Hanton, co-founder of the Intergenerational Foundation, says YES. We need to say RIP to RPI. Why? Because the use of the Retail Prices Index (RPI) is based on a flawed methodology — one which disproportionately impacts younger generations. From [...]
ICE Benchmark to consult on scrapping most Libor denominations November 18, 2020 By Huw Jones LONDON (Reuters) – Libor compiler ICE Benchmark Administration said on Wednesday it will consult on its plan to stop publishing the interest rate denominated in sterling, euro, Swiss franc and Japanese yen. Britain’s Financial Conduct Authority and other regulators have said they want banks, companies and other market participants to end the [...]
From ‘haves’ to ‘have-nots’: how COVID-19 is swelling UK’s subprime ranks November 18, 2020 By Sinead Cruise and Iain Withers LONDON (Reuters) – One morning, after years of financial prudence and solid creditworthiness, you wake up and it’s all gone. You’re no longer worthy. You’re a risk. In fact, you’re sub-prime. That is the fate facing thousands of Britons who, often for no fault of their own, could begin [...]
Gap between rich and poor grows despite jump in savings ratio November 16, 2020 The wealth gap between rich and poor people in the UK is widening as a result of the ongoing coronavirus pandemic and the ensuing lockdowns, according to an Oxford-based think tank. Research from the Centre for Enterprise, Markets and Ethics has found that a third of British people now have less than £1,500 in the bank, [...]