Pound reverses all damage done during Liz Truss premiership November 24, 2022 The pound has strengthened to its highest level against the US dollar in three months, reversing all the damage done to the currency since Liz Truss’s ill-fated premiership. Sterling today climbed 0.7 per cent against the greenback, hitting $1.21. A combination of the US Federal Reserve signalling it will slow its aggressive interest rate hike [...]
London investment will come roaring back after drop-off, says British Business Bank November 24, 2022 London’s firms will be forced to weather a sharp drop-off in deals in the coming months before they rebound in full force, a top official at the British Business Bank has warned.
Energy bill support to cost billions as Ofgem unveils monster £4,279 price cap November 24, 2022 The energy price cap will rise by a further £700 in the new year, Ofgem has announced - a 20 per cent hike to its current record rates.
FTSE 100 closes higher despite yet more recession signals November 23, 2022 London’s FTSE 100 finished higher today despite yet more data signalling the UK is on a one ticket to recession. The capital’s premier index climbed 0.17 per cent to 7,465.24 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped 0.4 per cent to 19,500.5 [...]
Taxman grabs 30 per cent more from Brits over last five years November 23, 2022 The amount of money the taxman takes away from Brits has climbed 30 per cent over the last five years, Morning Wire analysis of official figures shows. In the year to 31 October this year, HMRC collected £757bn in taxes, up from £584bn in 2015/16, stats out this week reveal. The rise in tax revenues [...]
UK healthcare: three changes I’d be thankful for November 23, 2022 | Sponsored The festive season here in the UK has not quite begun, but within American businesses like ours it’s traditional at this time of year for people to reflect and celebrate Thanksgiving Day to give thanks for our health and happiness, for our friends and family. Like many people across the UK, one thing I’m incredibly [...]
UK economy arrests decline but recession still coming November 23, 2022 The UK economy has arrested a decline, but it still looks likely to tip into a long recession, a closely watched survey out today has unveiled. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) flash purchasing managers’ index (PMI) for November inched up to 48.3 points from 48.2 in October. It is [...]
City job losses loom amid government tax grab and recession November 22, 2022 Square Mile banks, brokers and insurers will shed jobs to alleviate pressure on their balance sheets from the government hiking taxes, the new Lord Mayor of Canada has warned. Nicholas Lyons, the freshly minted 694th Mayor of the City, told Bloomberg today he expected “there will be some job losses” after chancellor [...]
L&G chiefs lay blame for LDI pension crisis at Truss’s door November 22, 2022 Legal & General chiefs said no one could have predicted the “extraordinary instability” that rocked pension funds in the wake of Liz Truss’s ’mini-budget’ today, as they pointed the finger squarely at the government for the scale of the crisis.
Dealmaker’s Spotlight: Hannam & Partners November 22, 2022 | City Talk Datasite recently spoke with Sam Merlin, Partner at Hannam & Partners, to hear his thoughts and insights on the energy sector and what lies ahead for the market and dealmaking. Hannam & Partners is a leading independent investment bank with expertise across the energy, mining, and financial services sectors. Owned by its partners, Hannam & Partners [...]