UK in Recession: an Overview of What Could Happen & How You Can Take Advantage November 1, 2022 | City Talk Recently, the Bank of England has issued a warning about a slowdown in economic growth towards the end of 2022, with similar worries persisting into 2023. Overall, the upcoming emergence of a recession has been fuelled by a mix of several detrimental dynamics for the UK. Uncovering the Dynamics that Lead to Recession The United [...]
The impact of higher interest rates on markets. What is ahead for the crypto market? November 1, 2022 | City Talk Higher interest rates generally mean a lower appetite for high-risk/high-return assets such as cryptocurrencies, hence we’ve seen the crypto market decline in recent months. With the stock market also reacting badly to recent rate hike and the crypto market becoming increasingly correlated to stocks, crypto could be in for a continued bearish year because of [...]
UK factories in ‘survival mode’ as output tumbles to 29-month low November 1, 2022 UK factories are in “survival mode” amid a demand slump, rising interest rates and swelling costs, a closely watched survey out today shows. The S&P Global and Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for October tumbled to 46.2, the weakest reading in 29 months when the country was grappling [...]
UK’s £50bn black hole: Brits face a long, cold winter full of spending cuts and fresh tax hikes November 1, 2022 After barely a week in office, Rishi Sunak, the new Prime Minister, and his equally new Chancellor, Jeremy Hunt, are expected to move ahead with tax rises for millions of Brits. As early as next week, Sunak and Hunt will most likely extend a freeze on the thresholds at which people start to pay the [...]
Exclusive: 832,000 businesses face fines and missed VAT returns as new digital tax deadline is today November 1, 2022 UK VAT registered businesses who are yet to sign up for the so-called Making Tax Digital (MTD) by today will fall foul to non-compliance, penalties and an inability to file their VAT returns. The amount of businesses facing a default surcharge penalty is expected to significantly increase in November as a result of businesses being [...]
UK should ‘future proof’ economy via cutting-edge green tech, says Kemi Badenoch November 1, 2022 International Trade Secretary Kemi Badenoch thinks the UK must “future-proof” its economy by investing in cutting-edge green technologies In a speech to the green trade and investment expo in Gateshead, Tyne and Wear, later today, Badenoch will say new technologies to combat climate change are creating high-paying skilled jobs while providing a route to future [...]
Hunt and Sunak face £89bn fiscal hole without tax rises or spending cuts November 1, 2022 Without spending cuts or tax rises, prime minister Rishi Sunak and chancellor Jeremy Hunt will burn a £89bn hole in the public finances in a few years time, a new report out today reveals. A combination of former prime minister Liz Truss’s tax cuts in the shambolic 23 September mini-budget still lingering and a flatlining [...]
London’s FTSE 100 gains tamed by traders dumping house builders on property price jitters October 31, 2022 London’s FTSE 100 was tamed today by traders ditching the UK’s largest house builders on fears the property is headed for a sharp slowdown. The capital’s premier index’s gains were held to 0.66 per cent, finishing at 7,094.53 points. The domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Apollo strikes crypto deal with Anchorage in digital asset push October 31, 2022 Asset management giant Apollo has begun holding crypto on behalf of its clients after striking a deal with digital asset bank Anchorage Digital, in a vote of confidence in the future of crypto after a rocky few months in the market.
Libor rigging special: Calls grow to review all convictions of City traders as ‘UK’s position is absurd’ October 31, 2022 A major City scandal that most bankers in London had left behind years ago seems to be coming back with a vengeance. In a new twist in one of the Square Mile’s biggest-ever scandals, the Libor rate-fixing case, British former trader Tom Hayes has had the long-running case against him in the United States thrown out. As [...]