Revealed: KPMG slashes UK bonuses as dealmaking drought hits fees May 31, 2023 KPMG has slashed the bonus pool of its UK workforce and reined in commission for salespeople as its profits falter amid a slowdown in the dealmaking environment this year, Morning Wire has learned.
FTSE 100 close: Debt ceiling breakthrough fails to lift London index as recession fears reignite May 30, 2023 London’s FTSE 100 dropped sharply today as recession fears outweighed US lawmakers closing in a deal to end the debt ceiling deadlock. The capital’s premier index slid 1.38 per cent to 7,522.08 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly flat, closing [...]
FTSE 100: Ocado set to be chucked from the trolley in London index reshuffle May 30, 2023 Ocado is set to be rubbed off many investors’ shopping lists this week as it faces a relegation from the FTSE 100 following a troubled period of slowing sales and a tumbling share price.
Biden and McCarthy hope to sell Congress on vital debt ceiling deal May 30, 2023 US President Joe Biden and senior Republican Kevin McCarthy will spend this week attempting to convince Capitol Hill legislators to pass a deal to raise the US debt ceiling, which was agreed by the two men over the weekend. One investor hailed the deal as “great news,” minimising the chance of the US government defaulting, but Congress [...]
Analysis: Why US debt ceiling deal might not be good news for global markets May 28, 2023 Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Saturday reached a tentative deal to raise the federal government’s $31.4 trillion debt ceiling, two sources familiar with the negotiations said, potentially averting [...]
UBS number-crunchers predict pound to hit recent high against the dollar May 27, 2023 UBS wonks believe the pound could be trading as high as 1.30 against the US dollar by the end of the year, as the currency continues to recover from Liz Truss and Kwasi Kwarteng’s mini-budget last year. The pound currently trades at 1.23 against the dollar, a far cry from the 2:1 days of yore. [...]
FTSE 100 close: A stable end to a miserable week May 26, 2023 London’s FTSE 100 showed tentative signs of recovery on Friday, after a turbulent week that saw numbers from the Office for National Statistics reveal far higher levels of inflation, all but sealing further interest rate hikes. The blue-chip index started higher before settling in flat, and then closing at 7,627, up 0.74 per cent, helping [...]
FTSE 100 close: London index extends losses as pound slides and bond yields soar May 25, 2023 London’s FTSE 100 continued yesterday’s wobble today driven by investors fretting over how high the Bank of England will have to send interest rates to tame sticky inflation. The capital’s premier index slipped 0.74 per cent to 7,570.88 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Monzo founder Blomfield fires parting shot at London as he packs bags for San Francisco May 25, 2023 Monzo founder Tom Blomfield has warned there are no quick fixes for London’s "very real" listings problem, in a parting blow to the capital as he packs his bags for the US.
Blackrock shrugs off climate activists at shareholder meeting May 24, 2023 The world’s biggest fund manager Blackrock has comfortably seen off a potential rebellion over its environmental, social and governance (ESG) policies today as the firm looks to take a passive role on climate issues.