UK set for ‘very rapid growth’ over next quarters, says BoE’s Broadbent April 25, 2021 Bank of England deputy governor Ben Broadbent said that the UK would see “very rapid growth” over the next couple of quarters as people rush to spend after lockdown. In an interview with the Telegraph, he said that the economy would see a boost simply from people saving less after the pandemic, let alone spending [...]
Public sector borrowing surges to record high April 23, 2021 Public sector borrowing surged to a record high in the past year after a huge rise in spending and tax cuts amid the pandemic. The UK Government borrowed £303.1bn in the last year, an increase of £246bn on the previous year, according to figures from the Office of National Statistics (ONS). As a ratio of [...]
Government leaking Covid economic policy erodes public trust, think tank warns April 23, 2021 Treasury’s leaking of Covid-19 recovery policies to some media outlets weeks in advance, while keeping tight lipped on important details, risks eroding public trust, a leading economic think tank has warned. A new report by the National Institute of Economic and Social Research (Niesr) said the current method has led to serious fiscal failures and [...]
Set the tone: Central bankers can move markets or ease volatility based on their vocal pitch April 21, 2021 When it comes to absorbing shocks, boosting stocks or reducing volatility markets take their cues from the tone of voice central bankers use
Netflix catches a chill while inflation is knocking at the door April 21, 2021 When you see American Airlines fall 8 per cent because it announced a bigger-than-expected loss in the first quarter, you are fine with that information. But when you see Netflix plunge 10 per cent after-market because it missed estimates, that’s a shocker. Netflix surprised to the downside yesterday, according to Ipek Ozkardeskaya, a senior analyst [...]
Cabinet ministers back Tory push against Sunak for lower taxes post-Covid April 21, 2021 Some of Boris Johnson’s highest profile cabinet members are among 46 Tory MPs that today backed a new campaign group aiming to push Rishi Sunak to adopt a more low-tax agenda post-Covid. The Free Market Forum, run by the Institute of Economic Affairs think tank, will look to “refocus the political debate” toward “free enterprise [...]
Treasury Select Committee chair calls out UK banks for treatment of SMEs during Covid crisis April 20, 2021 Treasury Select Committee chair calls out UK banks for treatment of SME during Covid crisis
Four keys to better decision making – Daniel Kahneman April 20, 2021 | City Talk CFA Institute has transformed its annual conference for 2021, with a binge-worthy digital format and an exciting slate of speakers. Join us for the Alpha Summit on 18 May 2021. Daniel Kahneman delivered a captivating mini seminar on some of the key ideas that have driven his scholarship, exploring intuition, expertise, bias, noise, how optimism and overconfidence influence [...]
Before the Bell: UK remains steady as economy slowly starts to reopen April 20, 2021 European stocks started the week in a subdued fashion, with the FTSE100 only just managing to close above the 7,000 level, while the DAX also slipped back from its record highs of last week. US markets also finished the day on the back foot, weighed down largely by weakness in tech stocks, which may well [...]
Sterling rises to highest levels for a month April 19, 2021 The pound rose to its highest levels against the dollar for a month as the UK’s recovery from the Covid-19 downturn continues. Sterling was up 1.1 per cent at $1.39 as of 9:00pm, the highest it has traded against the greenback since mid-March. Against the Euro, it was 0.7 per cent higher at €0.86. The [...]