NFT platform Sorare under investigation by UK gambling commission October 12, 2021 Sorare, a platform where users buy and trade NFT football cards to build a fantasy team, is under investigation by the UK’s Gambling Commission. In a statement the Commission said that “any activity completed on the site by consumers in Great Britain is outside of the gambling regulations that a licensed operator should comply with.” [...]
Covid fear-mongering will slash through business confidence December 14, 2021 Businesses need confidence even more than they need good policy. Whispers from government over the need for Plan C and the possibility of a Plan D, before MPs have even voted on Plan B, are just the latest in a long line of public utterances that undermine business confidence – with very real results. Business [...]
Bank of England’s reputation is at stake in the interest rate tragicomedy September 22, 2021 Misplaced expectations often lead to wasted time. Pip, Vladimir and Estragon waiting for Godot, and even England fans crying out for the arrival of Jack Grealish during Euro 2020. These stories teach us that banking on something to happen can lead to opportunities going amiss. The Bank of England could be lumped into that group [...]
City’s top economists toast end of plan B Covid-19 curbs January 19, 2022 The City’s top economists today toasted the government’s decision to scrap plan B Covid-19 curbs, hailing the move as a sign that Britain’s economy is getting back to being fully operational. Hope was ignited among experts that the influence Covid-19 and accompanying restrictions on daily life has exerted on the health of the British economy [...]
Government unveils biggest ever renewable power auction round September 13, 2021 The government today unveiled the biggest ever funding round for its flagship renewable energy scheme as it seeks to accelerate investment into green energy sources. Under the fourth round of the Contract-for-Difference programme, £200m will be made available to support the development of offshore wind farms. By the end of the decade, ministers have set [...]
Central banks face tough journey to ‘Goldilocks’ policy setting June 19, 2022 Goldilocks found the perfect bowl of porridge through trial and error. The US Federal Reserve, Bank of England and the rest of the central banking elite are following a similar rationale right now. They are grasping for that “just-right” policy setting which allows an economy to reach its full potential without knowing what that setting [...]
Investors pile £12bn into UK-listed companies, hoisting the market above pre-pandemic levels August 5, 2021 UK listed companies have raised more than £12bn in fresh capital from investors in the first half of this year, building the market back above pre-pandemic levels. The pandemic caused a resurgence in UK capital markets activity last year, with funds raised by listed companies peaking at its highest level in over a decade. Investors [...]
A hammer blow to the industry: Business travel body slams new restrictions December 5, 2021 The travel industry has reacted with fury following the re-introduction of pre-departure mandatory tests for those travelling to England. Clive Wratten, chief executive of the UK Business Travel Association (BTA), has slammed the government’s decision, calling it a “hammer blow to the business travel industry.” “Public safety is a priority, but businesses will fail, travellers [...]
Interview: Former rate setter Andrew Sentance on Governor Bailey’s ‘off the cuff’ remarks and where the BoE went wrong March 16, 2022 It is often a mark of how dire an economy’s situation is when incremental rises in interest rates hit the front pages. The worst cost of living crunch in a generation has, however, sent the Bank of England to the front of many households’ minds. Those outside of the City care less about the vagaries [...]
Business and professional services boosts UK economic output in May May 30, 2021 The City of London’s dominant business and professional services industry put rockets under the UK’s private sector business activity in the three months to May, according to the latest CBI monthly gorwth survey. Business and professional services activity grew at a survey record pace, gorwing at a rate of 50 per cent, up from a [...]