UK coronavirus: Which retailers are open under lockdown rules? March 25, 2020 The government announced a UK coronavirus lockdown on Monday evening, putting limits on work, socialising and going outside. Addressing the nation, the prime minister said “I must give the British people a very simple instruction – you must stay at home”. Boris Johnson said police will break up public gatherings of more than two people, [...]
FTSE 100 breaks 6,000 and US stocks rise amid economic optimism August 3, 2020 The FTSE 100 rose sharply, surpassing 6,000 points, as investors looked past rising coronavirus cases and cheered positive economic data. London’s blue-chip index was 2.2 per cent higher in afternoon trading at 6,028 points. The mid-cap FTSE 250 was up 1.2 per cent. Read more: HSBC profit plummets due to coronavirus pandemic On Wall Street, [...]
FCA introduces credit card and loan freeze to help consumers through coronavirus April 9, 2020 The Financial Conduct Authority (FCA) announced a package of measures today to help customers with credit cards and loans during the coronavirus lockdown. The City watchdog said the measures would help provide temporary financial relief to people with commonly used consumer credit products. Firms are expected to offer customers a temporary payment freeze on loans [...]
Nearly half of UK companies have scrapped dividend payments April 9, 2020 Nearly half of UK companies have scrapped dividend payouts as the coronavirus crisis batters business. The pace of dividend cuts has accelerated since the FTSE 100 slumped to its lowest point in over 25 years last month. Link Group’s UK dividend monitor shows 45 per cent of UK companies have scrapped payments, worth £28.2bn. It [...]
Lloyd’s of London boss calls for end to daytime drinking in wake of damning harassment survey September 24, 2019 The boss of Lloyd’s of London’s warned insurers today to curb their daytime drinking habits or face being expelled from the insurance community. Chief executive John Neal told City A.M. that he did not think it was sensible for workers to drink a pint at lunchtime, calling on the industry to put an end to [...]
Blackrock wins £30bn investment contract from Scottish Widows as owner Lloyds walks away from Standard Life Aberdeen October 12, 2018 Blackrock today won a £30bn investment contract in Lloyds Banking Group-owned Scottish Widows. The asset manager will invest the pension company’s funds in index strategies while also seeking to establish a strategic partnership to collaborate in risk management, alternative asset classes and innovative investment technology, Lloyds said. The money forms part of a £110bn pot [...]
City A.M.’s shadow monetary policy committee votes to hold interest rates amid peak Brexit uncertainty and global slowdown February 6, 2019 The Bank of England must hold interest rates when its monetary policy committee meets tomorrow amid peak Brexit uncertainty and a global economic slowdown, City economists have warned. The Bank’s rate-setting monetary policy committee (MPC) will announce its decision at midday but is expected to leave rates unchanged at 0.75 per cent. Read more: Household [...]
Wage subsidy scheme opens as start-ups get new £1.25bn package April 20, 2020 Applications open today for the government’s coronavirus wage subsidy scheme as the Treasury also announces a further £1.25bn package for start-ups and research and development firms. The job retention scheme will see the government pay 80 per cent of wages, up to £2,500 a month, to furloughed employees unable to work because of the coronavirus [...]
BoE: UK lenders can withstand disastrous recession December 16, 2019 The UK’s biggest lenders are strong enough to withstand a financial earthquake stronger than the one that rocked the City in 2008, the Bank of England’s annual stress test has found. Britain’s seven biggest banks could keep lending even if UK national income slumped 4.7 per cent, unemployment surged to 9.2 per cent, and world [...]
FTSE 100 rises as countries emerge from coronavirus lockdowns June 2, 2020 The FTSE 100 and global stocks have risen for the second day this week as investors cheer the reopening of economies around the world. London’s blue-chip index was up 0.9 per cent in early-afternoon trading at 6,220. It rose 1.4 per cent yesterday after US President Donald Trump stopped short of reigniting his trade war [...]