Gloomy skies: London’s FTSE 100 set for a rocky start to 2023 January 1, 2023 FTSE 100 could benefit from China re-opening but global headwinds threaten The London market kicks off 2023 with a gloomy backdrop as the UK is forecasted to plunge into recession and economies globally wrestle with sky-high inflation amid the energy and cost crisis. After the extreme volatility of 2022, the FTSE 100 Index is expected [...]
NatWest chief Rose receives Damehood in King’s first new year’s honours list December 30, 2022 The head of high street and still partly taxpayer owned NatWest Alison Rose will receive a Damehood in King Charles’s first new year’s honours list since succeeding The Queen. Rose, 53, became the first woman to head a top UK lender when she was made chief executive in November 2019. She has been awarded a [...]
In memoriam: The Queen, Pele, Shane Warne, business leaders and celebs who died in 2022 December 30, 2022 The death of Her Majesty the Queen punctuated a year dominated by economic turmoil, the Russian invasion of Ukraine and political upheaval. As 2022 winds down, it’s time to reflect on those who passed on, from the world of politics, sport, entertainment and, business. Queen Elizabeth’s death aged 96 after more than 70 years on [...]
Sacked: Football clubs change chiefs at four times the rate of top UK firms December 29, 2022 Football clubs have proved they are a more ruthless group than Britain’s biggest firms this year as top clubs sacked their bosses at four times the rate of FTSE-100 firms.
Goldman Sachs poised to slash headcount next month December 29, 2022 The chief of Goldman Sachs has warned staff he will slash the bank’s headcount by around eight per cent next month in a bid to bolster profits in the face of recession next year.
Mining and retail stocks push FTSE 100 into the green after Christmas shopping boost December 29, 2022 The FTSE 100 has been given a boost by its top retail stocks as investors cashed in on the post-Christmas sales shopping, and as China is set to ease its Covid restrictions for inbound travellers from January 8. Among the top performers on London’s leading index on Wednesday were JD Sports Fashion, Next, Kingfisher and [...]
EXCL – Why Private Equity’s appetite for aggressive takeovers will only increase in 2023 December 29, 2022 It’s no surprise that economic turmoil often drives consolidation. Companies may be struggling to survive and looking to M&A as a way to drive value. Not to mention the current weak pound that makes UK-based businesses, especially those with a global footprint, more attractive to overseas buyers. City experts don’t expect that to change in [...]
Sign of the times: Bank branches shut doors in their thousands December 24, 2022 More than 5,000 bank and building society branches have closed over the past seven years, according to analysis from Which? The consumer group counted 5,162 bank and building society branches which have closed since January 2015. A further 206 branches are set to close by the end of 2023, according to the Which? findings, as [...]
Square Foot Mile: Corporate office space deals surged by 25 per cent in 2022 December 23, 2022 Big corporate deals for London HQs has caused office leasing volumes to surge by almost 25 per cent. The post-pandemic return to the office is in full swing, with central London take-up rising by 24 per cent this year. Of the increase, demand for high-quality space in the capital has skyrocketed with 60 per cent [...]
FinTech sector asks UK government for more clarity in 2023 December 22, 2022 A group of UK based FinTech companies have written an open letter to the Financial Conduct Authority (FCA) calling for greater clarity on how open banking will be regulated from 2023 onwards. The letter criticizes the Joint Regulatory Oversight Committee (JROC), a regulatory body established in March by the Competition and Markets Authority (CMA). The [...]