Bank of England tells insurers to brace for persistent ‘claims inflation’ June 23, 2023 Insurers must rigorously assess the impact on their solvency of the rising cost of settling car, property and other claims and ensure they have sufficient reserves, the Bank of England told the sector on Friday.
London money managers bet on UK debt as interest rate hike threatens recession June 23, 2023 Money managers in London are scrambling to rejig their portfolios as they brace for a period of longer interest rate pain following the Bank of England’s move to hike rates again yesterday.
FTSE 100: London markets dip as investors fret over interest rate pain June 23, 2023 London’s premier FTSE 100 index has tumbled at the open this morning as investors grapple with the Bank of England’s move to hike rates to their highest level in 15 years yesterday.
There may be mortgage pain, but these bankers say rates hikes could boost the City June 22, 2023 Numis says the higher cost of capital could scupper private equity takeovers and boost the IPO market
Government ‘penalising’ investors with ‘baffling’ stamp duty on shares, says Interactive Investor June 22, 2023 Ministers are “penalising” the UK’s investors by levying “baffling” taxes on holding British stocks, one of the UK’s top investment platforms said today.
Rishi Sunak: Canada will be ‘engine room’ of UK investment in rebuilding Ukraine June 21, 2023 Ukraine is set to receive £3bn in World Bank loan guarantees as Prime Minister Rishi Sunak confirmed the UK would continue to support the nation for “as long as it takes” in the fight against Russia. Sunak will also announce a major financial support package for the eastern European country as it mounts its long-awaited [...]
UK must have a ‘Goldilocks’ approach to crypto rules or risk scaring firms off, warns minister Griffith June 20, 2023 The UK must strike a “goldilocks” approach to crypto rules and not scare off a crop of fintech firms with an overly “hot” regulatory clampdown, the City minister has warned.
Abrdn: Why shareholders could be set for a payday after £337m HDFC sale June 20, 2023 Abrdn has offloaded its entire stake in Indian asset manager HDFC and could now be set to ramp up share buybacks as it looks to put cash back in shareholders' pockets.
Andreessen Horowitz leads $19m injection into London ‘voice AI’ firm June 20, 2023 Heavyweight Silicon Valley investor Andreessen Horowitz (a16z) has led a $19m funding injection into London-based AI firm ElevenLabs to help accelerate a new wave of “voice AI research”, the firm announced today.
Damp squib? Private equity frenzy fails to materialise as interest rate pain scuppers deals June 20, 2023 A much anticipated take-private frenzy from dealmakers in Europe has failed to materialise this year as rising interest rates dampen the appetite for debt-fuelled takeovers, analysts have said.