Summer holidays plans? Expect higher ticket prices and endless airport queues, warns Ryanair’s boss May 16, 2022 Ryanair chief executive Michael O’Leary warned this morning that flight prices will be higher this summer due to the high demand for European holiday destinations. He told BBC Radio 4’s Today Programme earlier today: ”I think capacity, generally, across the summer will be down 10 per cent, 15 per cent.” “Prices will be up by, [...]
Boost for the City as UK trading venues regain top spot for Sterling swaps with even greater share than before Brexit May 16, 2022 UK trading venues have recovered their position as the biggest location for on-venue execution of GBP interest rate swaps (IRS), giving them a greater market share than pre-Brexit. In fact, a third of all GBP swaps and 57 per cent of on-venue GBP swaps are now executed in UK venues, the highest ever recorded share, [...]
Exclusive: Ukraine war puts major dent in derivative margin costs May 15, 2022 The war in Ukraine has caused huge increases in margin across derivatives markets, with firms having to find new sources of financing or reducing their positions in order to meet the collateral requirements from brokers, The margin rate for Brent Crude futures on Intercontinental Exchange (ICE) now stands at over $10,00 per lot. With the [...]
Bank of England chief Bailey set for toughest spell since taking reins from Carney May 15, 2022 Bank of England chief Andrew Bailey is this week set for one of his toughest spells since taking over from Canadian Mark Carney two years ago as head of the UK’s monetary authority. Bailey, 63, will tomorrow have to defend the Bank’s performance in taming a cost of living squeeze that risks plunging the UK [...]
Millions of Brits’ tax bills set to soar as fiscal drag bites May 15, 2022 Millions of Brits’ tax bills are set to soar due to chancellor Rishi Sunak freezing the thresholds at which people start paying the taxman, revealed research published yesterday. Around 6.7m people will be hit by higher rates by 2024, the year the next general election is scheduled, according to consultancy Lane Clark and Peacock (LCP). [...]
Week ahead: City eyes potentially ‘staggering’ inflation figures May 15, 2022 The City will turn its gaze to what is likely to be another tranche of “staggering” inflation data in a week bulging with economic and corporate updates. London’s premier FTSE 100 index whipsawed last week, dropping sharply on Monday before finishing the week up 0.41 per cent at 7,418.15 points. The mid-cap domestically-focused FTSE 250 [...]
‘Friday 13th horror show’: Musk’s announcement that his Twitter buyout is on hold sends stock plummeting by 20 per cent May 13, 2022 Elon Musk’s decision to put his $44bn takeover of Twitter on hold has sent the social media giant’s stock plummeting by almost 20 per cent. The billionaire Tesla owner took to Twitter this morning announcing the deal was off, citing concerns over the amount of fake users. He wrote: “Twitter deal temporarily on hold pending [...]
Crypto winter: Bitcoin in ‘something of a recovery’ amid fears worst yet to come May 13, 2022 Bitcoin has seen “something of a recovery” as cryptocurrency investors have been left counting their losses after a crash this week. Cryptocurrencies including Bitcoin and Ethereum hit historic lows on Thursday in a major price meltdown that wiped out previous gains. Over the past week, the price of Bitcoin has plunged more than a fifth [...]
Elon Musk says $44bn mega takeover of Twitter is ‘on hold’ May 13, 2022 Elon Musk wrote on Twitter that the mega takeover of Twitter is on hold. Twitter recently accepted a $44bn bid from Musk to acquire the social media company. The billionaire posted a link to a Reuters article which outlined a Twitter filing stating fake and spam accounts made up less than five per cent of [...]
Championing hidden talents, powering purpose, benefiting society May 13, 2022 | Sponsored Genuis Within celebrated its 10-year anniversary last September by publishing a report on its decade of progress. Founded by Dr Nancy Doyle, an Occupational Psychologist and now Genius Within’s Chief Research Officer, it’s a social enterprise dedicated to facilitating neurodiversity inclusion through consultancy, talent assessment, workshops and coaching for businesses. It works with government, business, [...]