Governor Bailey: Nothing different BoE could have done to prevent double-digit inflation May 16, 2022 Bank of England chief Andrew Bailey today defended his performance in overseeing “the biggest test” in the monetary authority’s 25 years of independence. Bailey, 63, said there was nothing else the Bank could have done to prevent inflation surging to more than five times its two per cent target in response to a grilling by [...]
Storegga closes £51.3m funding round as foreign cash pours into UK renewables May 16, 2022 UK carbon capture firm Storegga announced a £51.3m funding boost from a host of international backers today, as foreign capital continues to pour into UK ‘cleantech’ and renewable energy firms.
Levelling south: Most of UK’s top 10 fastest-growing city economies are in the South or East of England May 16, 2022 Most of the top 10 fastest-growing city economies by the end of next year will be in the South or East of England, new research suggests. The Government’s levelling up agenda will fail to take off unless more is done to help local economies in other parts of the UK. The dominance of London and [...]
Russia-Ukraine war generates new headwinds for European economy May 16, 2022 Russia’s invasion of Ukraine is generating fresh headwinds that will choke the European economy, reveal official forecasts published today. Surging energy prices caused by concerns over supply security following Moscow sending troops into Ukraine are set to strain households and businesses on the Continent. High input prices are likely to weigh on production, while elevated [...]
London is back: Influx of new residents picks up as 1 in 3 homes are let to tenants from outside the capital May 16, 2022 It has been revealed that nearly three in every 10 homes let in London so far this year have gone to people who were previously living outside the capital. Some 30 per cent of these properties have gone to tenants who were previously living elsewhere, according to research from sales and letting agent Hamptons, shared [...]
Bitcoin has no future in payments, warns top crypto boss May 16, 2022 Crypto billionaire Sam Bankman-Fried has warned bitcoin will never function as a payments network due to its inefficiency, as the crypto world scrambles to steady the market after a sell-off frenzy in the past week.
Trade war fears grow as Boris Johnson issues final Brexit warning to EU: If Brussels does not give in Britain ‘will act’ May 16, 2022 As Boris Johnson prepares for a visit to Northern Ireland later today, the Prime Minister has warned the EU the UK will have a “necessity to act” if the Brussels is unwilling to reach a compromise in the deepening crisis over the Northern Ireland Protocol. The Prime Minister – who travels to Belfast today for [...]
1 Minute Market Rundown – 16th May 2022 May 16, 2022 | City Talk Trade the ExtremesUSD on the Rise AgainCrypto Unable to Sustain a RallyDeleveraging Continues Whilst Friday the 13th is unlucky for some it wasn’t the case for equity bulls. Last week had seen markets get battered, especially crypto, as it seemed no one had a positive outlook on the economy. We have been saying for a [...]
From Boxpark to Punch Pubs: Cash influx for leisure sector as UK private equity deals double in just one year May 16, 2022 The number of UK private equity deals for companies in the leisure sector has more than doubled from 12 to 26 in the past year, according to research by one of the City’s biggest law firms. Private equity funds are taking the opportunity to pick up assets at comparatively low prices ahead of the leisure [...]
Banks across the UK are ‘pulling the drawbridge’ as lending to small businesses hits all-time low May 16, 2022 The UK’s largest business group is warning that banks “pulling up the drawbridge” to small firms will further stifle economic growth as a new SBI study showed that successful finance applications plunged over the first quarter of this year. Fewer than one in ten (9 per cent) small firms applied for finance in the [...]