FTSE 100 Live: BP’s $5bn hit; Prudential taps ex-HSBC chair Markets Good morning and welcome back to the City AM liveblog. Investors were taking a back seat to risk on Tuesday after President Donald Trump’s latest salvo on the Federal Reserve rocked global markets. The US Department of Justice opened a criminal investigation into the Fed’s chair, Jerome Powell, as Trump escalated his crusade against the central bank’s [...]
Central banks throw weight behind Fed after Trump assault Economics Some of the world’s most prominent central banks have issued a full-throated support of the Federal Reserve and its chair Jay Powell, after Donald Trump’s campaign against its independence escalated with a Department of Justice legal action. In an unusual joint intervention, 11 central banking chiefs declared they stood in “full solidarity” with the Fed’s [...]
FTSE 100 Live: UBS to get new boss; Premier Inn leaseback deal Markets Good morning from the City AM liveblog team. What’s an easy way to tell apart a developed country from a less developed one? One straightforward yardstick is the behaviour of state institutions and their relationship to government. If they are well run, they are operated by professionals independently from the executive. Or – the executive [...]
Trump’s reckless assault on central bank independence January 13, 2026 Donald Trump once said he values loyalty “above everything else…more than brains, more than drive and more than energy.” If you’re wondering how he responds to perceived disloyalty, he’s also previously said “I love getting even with people.” With these two statements in mind, the Trump administration’s dramatic escalation of its war against the Chairman [...]
Former Federal Reserve chiefs round on Trump’s ‘vindictive’ Powell salvo January 12, 2026 Donald Trump’s unprecedented decision to open a criminal indictment against Federal Reserve chair Jay Powell has been rounded on by all of his living predecessor, who accused the President of running the United States like a developing economy. In a highly unusual joint intervention, Janet Yellen, Ben Bernanke and Alan Greenspan rebuked the President’s most [...]
FTSE 100 Live: Barclays slumps on credit card cap, Fed’s Jerome Powell faces probe January 12, 2026 Good morning from the City AM liveblog team. The FTSE 100 broke through the five-figure mark last week in a welcome start to the year for the London markets. The index saw its best annual performance in 2025 since the recovery from the financial crash in 2009. That was helped along in no small part [...]
Gold notches new high as Trump escalates Venezuela threats December 23, 2025 Gold has returned to its record-breaking routine this week as escalating geopolitical tensions and falling interest rates sent the metal to new highs. The yellow metal was closing in on $4,500 on Tuesday morning, reaching highs of $4,497 in early trading. On Monday, the price of an ounce of gold crossed the $4,400 mark for [...]
FTSE 100 Live: BoE rate decision in focus after Fed cut December 11, 2025 Good morning from the City AM liveblog team. Last night the US Federal Reserve met and agreed to lower interest rates by a quarter-point to between 3.5 and 3.75 per cent. But it was far from a tranquil meeting, with policymakers battling it out over whether to prioritise high inflation or a poor labour market. [...]
FTSE 100 Live: Fed interest rates, retail sales, GDP December 9, 2025 Good morning and welcome back to the City AM liveblog covering the FTSE 100 and other big market moves. Investors are bracing for a crunch decision at the Federal Reserve this Wednesday, with markets pricing in a 25 basis point cut to bring interest rates down to 3.5-3.75 per cent. Forecasters will be taking a [...]
Why are asset managers turning away from the US? October 28, 2025 Asset managers are increasingly choosing to diversify their portfolios away from US stocks, despite Wall Street’s pronounced rally, as fears over being overexposed to secular markets grows. US markets saw a significant bounce back in recent months, shaking off the lows that followed Trump’s tariff announcement in April, with investors not yet losing their appetite [...]