US Federal Reserve hikes rates for first time since 2018 as lift off begins March 16, 2022 The US Federal Reserve today hiked the world’s most important interest rate for the first time since 2018 in what is expected to be the first step in one of the fastest tightening cycles in recent history. Fed Chair Jerome Powell and the Federal Open Market Committee (FOMC) raised rates 25 basis points to between [...]
First person: How I built a legal firm out of the team defending the ‘Tuna Bonds’ dealmakers January 8, 2024 The Credit Suisse 'Tuna Bonds' scandal combined fisheries, kickbacks and global legal battles. Rupert Butler - the City lawyer who represented the defendants - tells City A.M. how the drama unfolded
Boris Johnson’s political life getting more difficult by the hour as letters of no confidence from Tory MPs pile up fast May 31, 2022 Tory whips are said to be discussing how to fight back if rebels trigger an all-important confidence vote as letters of no confidence in prime minister Boris Johnson are piling up fast. A steady stream of Tories have backed a ballot to decide the PM’s future, or called for Mr Johnson to step down, with [...]
Exclusive: Zooming in on the billions of pounds in criminal cash flowing through the City December 3, 2022 Going back more than a decade, in the summer of 2012, HSBC was fined $1.9bn for inadequate compliance and anti-money laundering control processes. The banking giant was found guilty of providing money laundering services to drug cartels as well as terrorist groups in the Middle East. Ten years on, money laundering is still a serious problem. Less [...]
Germany turns to coal as Russia puts pressure on gas supplies June 20, 2022 Germany will ramp up coal supplies and offer heavy subsidies to gas giants to ensure it can meet its energy needs this winter.
Fund manager Abrdn struggles to offload Rosneft stake February 28, 2022 FTSE 100 fund manager Abrdn has reportedly been unable to offload its £5m stake in Russian state-backed oil firm Rosneft, as Western firms scramble to divest from state-backed russian companies.
UK inflation to trend higher as firms hoist prices amid cost barrage February 28, 2022 Inflation will trend even higher in the coming months driven by UK businesses lifting prices to cope with intensifying wage pressures, reveals a fresh survey published today. Nearly half of firms are expecting to hike pay at least one per cent over the coming year, leading to them raising prices to protect margins, according to [...]
Markets roll over as Putin lays down the gauntlet: ‘Ball is now firmly in NATO’s court’ February 22, 2022 Reports of a possible summit between US President Biden, and Russian President Vladimir Putin saw European markets get off to a decent start to the week initially. Unfortunately, the early optimism didn’t last, and the France inspired initiative soon went the way of every previous initiative in trying to understand exactly what it is Russia [...]
What are the big political events coming up in 2024? December 30, 2023 From the US presidential race to the London mayoral contests, there’s a lot on the horizon to keep politicos busy in 2024.
We must end our dependency on Russia’s gas and embrace renewable opportunities February 18, 2022 Our energy bills are up by 54 per cent this year. It’s not just gas – the cost of fuel, food, and furniture is ticking up too. The Bank of England now expects inflation to surge past 7 per cent by the end of this year. That’s going to price many of us out of [...]